[Dilip Davda] The company is engaged in providing customer centric cyber security solutions. It is operating in a highly competitive and fragmented segment. The company hopes to post higher earnings from rising export revenue that will rise to around 40-50% post expansion from current level of 10%. Based on FY24 annualized earnings, the issue appears fully priced. Small equity post-IPO indicates longer gestation for migration. Well-informed investors may park funds for the medium to long term. Read detail review...

Sattrix IPO Peer Comparison

Sattrix Information Security Limited peer comparison with similar listed entities. (As on March 31, 2023)

Company Name	EPS (Basic)	NAV (per share) (Rs)	P/E (x)	RoNW (%)	P/BV Ratio	Financial statements
Sattrix Information Security Limited	8.00	23.88	15.12	40.61	5.07	Consolidated
Systango Technologies Limited	12.76	42.02	19.79	22.70	6.01	Consolidated
Dev Information Technology Limited	4.08	18.78	29.41	21.71	6.39	Consolidated
Tac Infosec Limited	6.63	10.04	71.70	66.05	47.35	Standalone

Notes:

The figures of Sattrix Information Security Ltd. are based on Consolidated Financial Statements as restated as on March 31, 2023.
Current Market Price (CMP) is the closing price of peer group scripts as on May 28, 2024.
The figures for the peer group are based on the consolidated audited financials for the year ended March 31, 2023.
Source - Annual report of the company for the year 2023 and as per Restated Financial Statements included in offer document (prospectus). P/E Ratio is based on the closing CMP of the respective scrip's divided by the basic EPS.
NAV per share is computed as the closing net worth divided by the closing outstanding number of paid up equity shares as adjusted with the effect of Bonus Issue. (vi) RONW has been computed as net profit after tax divided by closing net worth.

Sattrix Information Security IPO Review by Members

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