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India News Alpha

@_IndiaWire

Jun 8

Segment Focus: Enterprise Commerce & GIFT City Offshore Delivery The non-defense software wing acts as the high-margin cash engine: Sourceved Technologies (51% stake): Operates as a certified Sitecore Solution Partner, delivering premium enterprise content systems (CMS) and e-commerce architectures to retail, fintech, and healthcare clients. Applie Infosol (51% stake): Positioned in the GIFT City SEZ, this entity acts as the offshore delivery hub, allowing the company to scale globally with tax-efficient operating costs. (6/11)

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India News Alpha

India News Alpha

@_IndiaWire

Jun 8

The Core Metamorphosis Founded in 2013 as a localized partnership named Oceans Technologies, Sahana Systems has undergone a major strategic transformation. After its SME IPO in June 2023, the group executed a series of programmatic acquisitions (Softvan, Sourceved, Applie Infosol) to shift from simple IT services to complex deep-tech systems integration, clearing the path for its migration to the NSE Main Board. (2/11)

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STR

STR

@sachprat07

17 Nov 2025

#SME #Sahana #SahanaSystems Sahana Systems H1 FY26 Concall Highlights: 👉FY 2026 & Future Outlook : ▫️FY26 expected revenues ~210-220cr on conservative basis 💠~₹20cr closed in exports, ₹16-17cr collected, with recurrent revenue. 60% revenue from government, 40% enterprise (30% overseas) 💠Long-term target: Targeting ₹350cr in FY27 and ₹500cr in FY28 💠Opportunity lies across segments like defense (₹1,000-2,000cr), marine system integration (₹500-600cr), and government IT services (₹1,000cr) ▫️EBITDA margin: Expected to remain in the ~33% range seen in H1 💠PAT margin: Projected to increase slightly from H1, with overall PAT margins expected to rise modestly over the next three years due to higher-margin projects in defense and system integration ▫️Investor Engagement: Commitment to increase earnings call frequency (quarterly from FY27 probably near to migration) 👉Projects and pipeline: ▫️Indian Navy: Upgrading RF testing and chip point-of-contact design facility at Jamnagar (falls under electronic warfare) 💠Dredging Corporation of India: IoT and AI upgrades for vintage dredgers (marquee marine/shipping customer) 💠IPRCL (for Tuticorin Port): Large-scale digital twin project for operational efficiency, cargo handling, vessel traffic management, computer vision, and generative AI automation 💠Ministry of Information and Broadcasting: Samvad media monitoring tool for 58 cabinet ministries, PMO, and PIB (covers print, digital, and social media; daily reports by 7:45-8:00 AM). ▫️Revenue mix: Sahana standalone (76% from existing customers, 24% new); Softvan (defense/deep tech; 65% existing, 35% new); SourceVed (12-15% new customer growth) ▫️Order Book: Confirmation for next 1-1.5 years' revenue execution; vendor status in tenders with >80% win probability; MOUs with Defence PSUs and central PSUs for recurring revenue ▫️Future Pipeline: Gestation period of 3-4 years for government projects; current work positions the company for FY27-28 revenue 💠Includes couple of ₹1,000cr-scale projects (shortlisted among few vendors) 💠Patents: 12 applied last year, 6 under positive process, 2 awarded (enabling product resale in system integration) 👉 Others : ▫️Business Diversification and Expansion: Focus on defense (anti-drone, radar, electronic warfare), fintech (UPI platforms, core/digital banking), edutech (AR/VR, smart/virtual classrooms), healthtech (HIMS, AI diagnostics), and port/marine (IoT integration, predictive analytics, digital twins) 💠Entering EV charging in Andhra Pradesh via OEM tie-up for manufacturing, IoT/embedded enhancements, and CMS 💠Revenue model is revenue-share (recurring but not high-margin; includes cybersecurity R&D for stations) 💠No strong seasonality, but H2 can be bulkier due to government budget exhaustion and mobilization advances 💠Opportunities in Southeast Asia (e.g.,Thai Government meetings), Africa, and Latin America for fintech/defense/deep tech ▫️Operational and Strategic Updates: Asset-light model; DPIIT-recognized startup with certifications. Strengthening leadership/R&D via hiring (first-, second-, and third-level roles) 💠No formal decision on separate listing of Sahana Defense (subsidiary) ▫️Cash Flow and Funding: Negative cash flow tied to working capital in service-driven projects; mitigated by milestone-based government tenders 💠Potential for OD/CC facilities or equity/debt if large projects accelerate ▫️Risks: Strategic challenges from early large-order wins requiring cash flow scaling, but management views projections as conservative with execution exceeding

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Nilesh Kurhade

Nilesh Kurhade

@nileshkurhade

6 Oct 2024

📌 Sahana System Ltd informed the exchange about acquiring a 51.003% equity stake in SourceVed Technology Private Ltd for a total value of ₹15,00,87,421/-. The acquisition will be completed via a share swap agreement, making SourceVed a subsidiary of Sahana. #SME #SAHANA 🔄💻