Orient Technologies Limited, founded in 1997, is a fast-growing IT solutions provider headquartered in Mumbai, Maharashtra. It specialises in developing tailored products and solutions across various business verticals, including IT Infrastructure, IT-enabled services (IteS), and Cloud and Data Management Services.
With deep expertise in technology, Orient Technologies collaborates with leading partners like Dell, Fortinet, and Nutanix to design and innovate products that meet specific customer requirements. This collaboration enhances the company's ability to deliver customised solutions to its diverse client base.
Focused on building long-term relationships, Orient Technologies engages closely with customers across industries such as BFSI, IT, and healthcare, understanding their needs and identifying new opportunities for collaboration.
Industry Outlook:
- The Indian IT Services sector represented 52.4% of the total IT revenue in FY23, indicating its critical role in the country's technology landscape.
- The ITeS industry grew at a 4.8% CAGR from 2019 to 2022, driven by digital transformation and financial inclusion, especially in BFSI and government services.
Orient Technologies Limited IPO Objectives
The company plans to allocate the net proceeds from the issue for the following purposes:
- Acquisition of office space at Plutonium Business Park, Navi Mumbai (units 1201-1204, Turbhe MIDC, Thane District).
- Funding capital expenditures for:
- Setting up a Network Operating Centre (NOC) and Security Operation Centre (SOC) at the Navi Mumbai office.
- Purchasing equipment and devices to support Device-as-a-Service (DaaS) offerings.
- General corporate purposes.
Peer Details
The following are the listed peers of Orient Technologies Limited:
- Dynacons Systems & Solutions Limited
- HCL Technologies Limited
- Wipro Limited
- LTI Mindtree Limited
- Allied Digital Services Limited
- Dev Information Technology Limited
- Tech Mahindra Limited
- Silicon Rental Solutions Limited
How to Check the Allotment Status of the Orient Technologies Limited 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 Orient Technologies Limited IPO
- Registered office: Off No-502, 5th Floor, Akruti Star, Central Road, MIDC, Opp. Akruti Point Central, Andheri (East), Mumbai –400093
- Phone: +91 22 4292 877
- E-mail:complianceofficer@orientindia.net
IPO Financials
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 |
|---|---|---|
| Revenue from Operation (in ₹ million) | 6,028.93 | 5,351.02 |
| Profit After Tax (PAT) (in ₹ million) | 414.48 | 382.98 |
| Current Ratio (x) | 2.24 | 2.21 |
| Net Worth (in ₹ million) | 1,753.07 | 1,288.24 |
| Net Debt (in ₹ million) | 48.17 | 128.57 |
| Return on Equity (%) | 27.26% | 34.36% |
| Return on Capital Employed (RoCE) (%) | 28.42% | 31.45% |
| EPS (in ₹) | 11.80 | 10.94 |
Know before investing
Strengths
7Established in 1997, a strong reputation in quality products and services.
Diverse customer base across BFSI, ITeS, and healthcare sectors.
Partnerships with Dell, Fortinet, and Nutanix enhance product innovation.
Revenue from operations grew at a 13.57% CAGR (FY22-FY24).
Robust financial performance with ₹6,028.93 million in revenue in FY24.
Strong leadership with 1,482 employees across 7 Indian offices.
Risks
7Heavy reliance on top 10 customers for 38.11% revenue.
Dependent on few vendors for 71.35% of total expenses.
Significant outstanding receivables at 26.14% of FY24 revenue.
Large workforce with 21.84% attrition rate in FY24.
Negative net cash flows from investing activities in FY24.
High outstanding receivables: 26.14% of FY24 revenue is due.
Employee benefit expenses constitute 14.37% of total FY24 expenses.
