Systango Technologies Ltd - Stock Valuation and Financial Performance

Systango Technologies was originally incorporated as “Bushcare Overseas Private Limited” on September 17, 2004 under the provisions of the Companies Act, 1956 with the Registrar of Companies, Madhya Pradesh and Chattisgarh. Further, pursuant to Special Resolution passed by the shareholders at the Extra Ordinary General Meeting held on August 11, 2006, the name of the company was changed from “Bushcare Overseas Private Limited” to “Systematix Technocrates Private Limited” and a fresh certificate of incorporation consequent upon change of name was issued by the Registrar of Companies, Madhya Pradesh and Chattisgarh vide letter dated August 18, 2006. Further, pursuant to Special Resolution passed by the shareholders at the Extra Ordinary General Meeting held on May 05, 2016, the name of the company was changed from “Systematix Technocrates Private Limited” to “Systango Technologies Private Limited” and a fresh certificate of incorporation consequent upon change of name was issued by the Registrar of Companies, Gwalior vide letter dated May 18, 2016. Subsequently, pursuant to Special Resolution passed by the Shareholders at the Extra Ordinary General Meeting, held on December 13, 2022 the company was converted into a Public Limited Company and consequently the name of the company was changed from “Systango Technologies Private Limited” to “Systango Technologies Limited” vide a fresh certificate of incorporation consequent upon conversion from private company to public company dated December 27, 2022 issued by the Registrar of Companies.

The company is engaged in the business of providing software solutions that enables companies to design, implement and manage their own customized digital platforms including Web2, Web3 and mobile applications with strong emphasis on data and analytics. It provides range of software solution services including like: website development, mobile app development (both for iOS and Android applications), web3 development, DeFi (Decentralized finance), data engineering, implementation of blockchain, cloud computing, digital marketing etc for companies across sectors such as Financial Services (FinTech), Hospitality, Fantasy Sports, Property Tech etc. Through its software solutions it combines the functionality, flexibility and customer software development for its customers with the Cost effective, speed of implementation and other operational benefits of outsourcing.

Over the years the company has evolved as professional and technical service provider by offering end-to-end technology solutions and support. Its clients range from entrepreneurs and start-up enterprises to established companies, engaged in business of Fantasy Sports, transportation and logistics, Financial Services (FinTech) and various other industries including clients like Sila Inc, Urbansoft Sa(Pty) Ltd, Youtility Ltd, Ulster University, Ireland and others. The company’s revenue is primarily generated from exports sales and it is providing its services along with its subsidiaries to various clients spread across 10 countries.

The company is headquartered in Special Economic Zone (SEZs) of Indore that allows it to avail tax benefits as per SEZ norms. Its operations are further facilitated through its wholly owned subsidiary Companies i.e. Isystango Ltd. in UK and Systango LLC in USA. It benefits from the expertise and experience of its Promoters Nilesh Rathi and Vinita Rathi, who have more than 15 years of experience individually in the associated industry.

Business area of the company

The company is engaged in the business of providing software solutions that enables companies to design, implement and manage their own customized digital platforms including Web2, Web3 and mobile applications with strong emphasis on data and analytics.

Service of the company

• Full Cycle Product Development
• Data Engineering and Machine Learning Services
• Web3 and Blockchain Solutions
• DevOps
• Digital Marketing
• Product Architecture and design
• Cloud Services

Awards, accreditations or recognition

• ISO 9001:2015 for Quality Management Systems.
• ISO 27001:2018 for Information Security Management Systems.
• Great Place to Work-Certified (Mid-Size Organization) for 2022-23 from Great Place to Work Institute, India.
• Madhya Pradesh Best Employer Brand Award for 2018-19 and 2021-22-from Employer Branding Institute, India.
• Crown Commercial Service Framework, approved UK G-Cloud 13 Supplier.
• Emerging Company for the year for 2019-20 form Dream Companies to work for 9th Edition.
• Women at work leadership Award to its Promoter and Managing Director, Vinita Rathi for 2018-19 from Employer Branding Institute, India.
• 25 Fastest Growing Women Entrepreneur to Watch in- 2017 as a ‘Company Spotlight’ to its Promoter and Managing Director, Vinita Rathi from The CEO Magazine, Delhi.

History and milestones

• 2006: All the shares of the company were purchased by its promoter, Vinita Rathi and Nilesh Rathi
• 2006: Change in the name of the company from “Bushcare Overseas Private Limited” to ‘Systematix TechnocratesPrivate Limited’.
• 2016: Change in the name of the company from “Systematix Technocrates Private Limited” to “Systango Technologies Private Limited”.
• 2018: Won Madhya Pradesh Best Employer Branding awards by the Employer Branding Institute India.
• 2018-19: Crossed Revenue of Rs 10 crore
• 2020: Incorporated wholly owned subsidiary in USA i.e. Systango LLC.
• 2021: Won Madhya Pradesh Best Employer Branding awards by the Employer Branding Institute India.
• 2020-21: Crossed Revenue of Rs 20 crore.
• 2020-21: Incorporated wholly owned Subsidiary Company i.e. “Systango Account Aggregator Services Private Limited”.
• 2022: Conversion of the Company from Private Limited to Public Limited Company.
• 2022-23: Won Great Place to Work Category- Mid Size Organization by the Great Place to Work Institute, India.
• 2022-23: Acquired 100% stake in Isystango Ltd, UK and formed it as its wholly owned Subsidiary Company.