Niks Technology Management Discussions


Company Overview

Niks Technology Application development Company offers a range of services from outsourced application development and managed services to professional services that are enabled by experience, knowledge, proven methodologies, global talent and innovation. Niks Software Technology delivers products and solutions with increased levels of service and improved quality of outputs. We Offer IT Services, IT Security Services and Training on Ethical Hacking/Embedded System & Robotics/Software Development/Networking & Communication. The Company has also engaged in sale of Services like AMC Charges (Annual Mainteanance Charges), sale of Drone Spray Service and sale of traded goods like Drone Parts, Lifts Parts.

Our Mission

Our sole motive is to achieve business and revenue goals and promotion of the company, the company works diligently to match the expectations of the clients. We make sure to accomplish our goals through creativity and innovation. Niks Technology caters customize services to the clients in a systematic manner.

Our Vision

Niks Technology offers superior information technology services in a timely and affordable manner with emphasis on responsiveness and integrity while promoting long-term, seamless partnerships for mutual benefit.

The purpose of this discussion is to provide an understanding of financial statements and a composite summary of performance of our business. Management Discussion and Analysis (MDA) is structured as follows:

• Industry Overview

•Business Overview

• Result of Operation

•Business Outlook

•Opportunities And Threat

• Risk and Concerns

• Internal Control Systems and adequacy

• Material Development in Human Resources

IT Industry Overview

India has demonstrated resilience over the past year and continues to be the worlds fastest-growing major economy. Similarly, the countrys technology industry continues to experience revenue growth despite global headwinds and is projected to grow by double digits in constant currency terms by F.Y. 2022-23. The COVID-19 pandemic has affected every industry, and has disrupted trade, supply chains, work and business models, employment and consumer behaviours. During the pandemic, companies across the world accelerated their digital transformation initiatives to address these disruptions and secure their businesses. While some companies have now set up advanced business continuity measures, others have embarked on new innovative services and products. As companies focused on protecting employees from the pandemic, technology enabled a seamless transition to remote working by shifting to digital channels and digital customer engagement models. Various stay at home orders resulted in large scale adoption of models such as buy-online-pick up in-store in retail, tele-medicine and virtual care in healthcare, touchless experiences in finance and virtual solutions for online learning. Global IT service providers offer a range of end–to-end software development, digital services, IT business solutions, research and development services, technology infrastructure services, business process services, consulting and related support functions.

The conditions caused by the COVID-19 pandemic continue to evolve as new variants of the virus are emerging in some of our markets, leaving the recovery outlook varied and uncertain. Despite demand stability being high and ongoing large-scale vaccination drives, economic outlook remains uncertain. However, companies will continue to invest in digital transformation to address new pandemic driven consumer behaviours with the support of technology.

Business Overview

We started our operations way back in the year 2014 in the name of Niks Technology Private Limited. We are a IT solution services enabling company implementing standard practices and maintaining quality services across all verticals; we are committed to deliver high quality services like Digital Marketing, Software development, mobile app development, website development, moreover we provide classroom training and certification courses to students during their summer and winter breaks. This training is been provided through online and offline mode. We continuously evolve our services and customize our offerings as per the need of our clients. Our evaluation team ensures adaptation of the best-of-breed tools and technologies for effective Service to our clients. In todays digital Business world, you need a partner who can help you take advantage of marketing opportunities across a variety of channels in real-time. Niks Technology combines a data-driven approach with knowledge gained from years in digital marketing to deliver outstanding results to our clients. Niks with its foundation pillars as Innovation, Information and Intelligence is exploring indefinitely as a Technology Service Provider and as a Training Organization. Innovator of Technologies. Our company believes in the phrase "Innovation as key to future" and we have been keeping pace with modernization in all spheres of development, and marketing, emphasis on quality & client satisfaction. A professional approach and constant interaction ensure client requirement is met with high standard within the agreed guideline of time and cost. Its impressive growth has been largely due to confidence in its own capability and impressive infrastructure it has created over the years. Our company has been steadily diversifying as well as adding new products to its portfolio, besides adding additional infrastructure. We have a diversified product portfolio, which primarily caters to growing IT services sector but not limiting to it. We carter the need of students through our skill enhancement and value addition courses. We provide the courses at our education centres. We provide an improved product mix to our customers and their preferences thereby targeting a wider customer base. Our growth is further driven by our ability to make available an assortment of quality products under trusted brands built by our Company. A failure to maintain quality standard can prove to be extremely detrimental to the business of our Company. We give quality the utmost priority at all stages, to ensure our customers are thoroughly satisfied. Our office facilities are well equipped with streamlined process to ensure quality of services and timely fulfilment of our assignment. We provide the best in class solutions to our esteemed customers spread over all the sectors. We believe that we offer best to all our customers which makes us possible by understanding our clients needs and strive to deliver beyond their expectations. We are always committed to fulfil the requirements of our clientele according to their needs. In order to meet these requirements, we have adapted to best measure in the industry for quality management systems. We are providing quality that ensures customer satisfaction. We believe that we have long-term and stable relationships developed over the years with our key suppliers and our key customers through the quality of services we provide.

Our revenue model is summarized as below:

Revenue from Operation:

1. DIGITAL MARKETING: Digital marketing in its simplest term is the process leveraging on modern digital technology to market goods or services or the process of pulling website traffic or attention through social media sites; they achieve this by creating content that attracts attention and encourages readers to share it across their social network platforms. One of the major purposes of leveraging Social Media in marketing is that it covers a wide range of target market compared to other marketing tools. Digital marketing is a general term used for the marketing of products or services using digital technology platforms, mainly on the internet, but also including mobile phones, display advertising, and any other digital medium.

Digital marketing activities that we provide are:

•Search engine optimization (SEO)

•Search engine marketing (SEM)

•Content marketing

•Influencer marketing

• Content automation

•Campaign marketing

• e-commerce marketing

•Social media marketing

• Social media optimization• email direct marketing

•Display advertising

• e–books, optical disks and games, and all other forms of digital media.

•It also extends to non-Internet channels that provide digital media, such as mobile phones (SMS and MMS).

Digital marketing agencies industry creates advertising campaigns and places the advertisements across digital media outlets. Through in-house capabilities or subcontracting, the agencies provide advice, creative services, account management, production of advertising material, and media planning and buying.

2. ONLINE & OFFLINE COURSE: Skills Training is one of the most important aspects for a student especially. This helps the student to gain industrial exposure and also get familiar with the environment of the corporate. We provide the training sessions on the various technologies through which students can practice further and show their creative talents and use their own innovative ideas and enhance their skills. Courses we offer:

• Ethical hacking & cyber security

•Embedded system & robotics

•Digital marketing

•Android application development

• Internet of things (IOT)

• Machine learning

•Artificial intelligence

• Data science

•PLC-SCADA

•Web development

•Software development

• Programming language (C, C++, JAVA, PHP, PYTHON ETC.)

• Server administrator

•VLSI designing

• Networking

•Software testing

3. SOFTWARE DEVELOPMENT: We offer complete business application software & related services to section of Small & Medium Enterprises (SME). Niks Technology custom software development company provides complete end to end software solution for standalone outlets to sequence of a store.

NET Development; .NET is a general-purpose development platform. It can be used for any kind of app type or workload where general purpose solutions are used. It has several key features that are attractive to many developers, including automatic memory management and modern programming languages, that make it easier to efficiently build high-quality apps. Multiple implementations of. NET are available, based on open .NET Standards that specify the fundamentals of the platform.

MySQL Development: MySQL is known to be one of the best open source database management systems that supports almost all programming languages and operating systems. It is amongst the popular database databases for application development in the web application development and has a clear and detailed documentation along with a strong support community. This database is best used in conjunction with applications developed in PHP and is a part of the LAMP stack.

PHP Development: PHP Programmer have dedicated team of professional PHP developers dedicatedly to satisfy our client with the requirement. We assure to provide PHP developers with effective solutions. PHP developers are well versed in PHP web development, custom PHP development, PHP software development and source development

AJAX Development: AJAX stands for Asynchronous JavaScript and XML. AJAX is a new technique for creating better, faster, and more interactive web applications with the help of XML, HTML, CSS, and Java Script. AJAX web development, Custom AJAX development, AJAX software development and Source development.

Joomla Development: Joomla is an open source platform on which Web sites and applications can be created. It is a content management system (CMS) which connects your site to a MySQLi, MySQL, or PostgreSQL database in order to make content management and delivery easier on both the site manager and visitor. Joomla web development, Custom Joomla development, Joomla software development and Source development

.• Database Design & Consulting: Database Design. Databases have long been core to our consulting practice, as most of our solutions and applications have a database behind them. Whether its a library management system, an archive, a collection of photographs, or one of popular music, underlying the information is usually a database of some sort.

J2EE: J2EE is a platform-independent, Java-centric environment from Sun for developing, building and deploying Web-based enterprise applications online. The J2EE platform consists of a set of services, APIs, and protocols that provide the functionality for developing multitier, Web-based applications.

SharePoint Development: SharePoint is a web-based collaborative platform that integrates with Microsoft Office. Launched in 2001, SharePoint is primarily sold as a document management and storage system, but the product is highly configurable and usage varies substantially among organizations.

4. WEB DEVELOPMENT: Website Development refers to making a website for internet as well as internet website can be simple and can be complex one. A website should have a proper content on it so that the reader could know about the company. Website development is basically optimal for publicizing a company, a website should have a proper content on it so that a reader could know about the company. For any website you required a Content Management System so that you could develop a plan for it. Our spectrum of Web development services includes:

•Website design

• Custom web designing

•Responsive website design

•SEO friendly web designing

•PHP design & application development

•Website hosting

•E-commerce web design

•Website support and Maintenance

• Website redesigning

•Complete satisfactory solutions

Our Company is being promoted by Mr. Manish Dixit having experience of more than a decade and he is the guiding force behind all the strategic decisions of our Company. Promoter himself handles the sales, Execution plan for projects, spearheading digital marketing team and he manages day to day activity at office. Our entire range of services is being provided with the assistance of our experienced and talented team of employees. We believe that we are a trustworthy brand in the city of Patna and providing services by improvement in the quality of our services and customer interaction. Since the early days of our inception, we have gathered the industry knowledge, market awareness and also possess the infrastructure to support our services. Our services can be applied in array of vary industries etc. We have the capability and flexibility to meet the exact specifications of the services as per the requirements of our customers. We have our facilities and team of motivated and experienced staff in providing services as expected by our customers.

Result of Operations:

During the financial year 2022-23 the total revenue has been increased to Rs 207.70/- Lakhs as compared to the previous year i.e Rs 71.61/- Lakhs. The Companys net profit after tax for the current financial year is Rs 25.89/- Lakhs as compared to Rs 0.15/- Lakhs to the previous year.

Details of significant changes in Key Financial Ratio

PARTCULARS

2023 2022 CHANGE MORE THAN 25%
Debtors Turnover (in times) 5.51 11.85 Yes
Inventory Turnover (in times) 10.59 0.00 Yes
Current Ratio (Times) 1.24 1.63 Yes
Debt Equity Ratio (Times) - - N.A
Operating Profit Margin (%) 17.21 2.45 Yes
Net Profit Margin % 12.46 0.21 Yes
Return on Net Worth (%) 28.47 1.76 Yes

Notes: The details of financial ratio is disclosed in the notes to the financial statements of the company

Disclosure Of Accounting Treatment

The financial statements of the Company have been prepared in accordance with the Accounting Standards comply with the Accounting Standards notified under Section 133 of the Companies Act, 2013 ("the 2013 Act") and the relevant provisions of the 2013 Act, as applicable. The financial statements have been prepared on going concern basis under the historical cost convention on accrual basis. The Company has follows to continue with the period of 1st day of April to 31st day of March, each year as its financial year for the purpose of preparation of financial statements under the provisions of Section 2(41) of the Companies Act, 2013.

OUR COMPETITIVE STRENGTHS:

Rich Management Experience

Our Promoter have substantial experience in IT industry of approximately a decade. Our Company is managed by a team of experienced and professional personnel, exclusively focused on different aspects of the industry. The team comprises of personnel having operational experience and they are capable of creating and facing the challenges of growth within our Company. We believe that our management teams experience and their understanding of our industry and will enable us to continue to take advantage of both current and future market opportunities. Our Managements experience and knowledge enables us in addressing and mitigating various risks inherent in our business, including competition, the global economic crisis related effects and fluctuations in the prices.

Domain expertise and technical excellence:

Our Company have a dedicated work force, who are the strength and power of our organization. Our workforce is doing their individual bit in achieving our cumulative goals successfully.

Quality Service

We believe in providing quality and timely service to our customers. We have a set of standards for ourselves when it comes to timeliness and quality of service we provide to our customers. The stringent systems ensure that all the products reach our customers on stipulated time and there are minimum errors to ensure reduced product rejection. We believe that our quality service for the last 6 years has earned us a goodwill from our customers, which has resulted in customer retention and order repetition. It has also helped us to add to our existing customer base. We have developed internal procedure of checking the client orders at each stage from customer order to closer of the service. Our company focuses on maintaining the level of consistently in our service, thereby building customer loyalty for our Brand.

Continue develop new course content with market scenario:

Our Company is continuing developing new course content according requirement of the market. As per the market scenario we have launched courses like Ethical hacking & cyber security, embedded system & robotics, Digital marketing, Android application development, Internet of things (IOT), Machine learning.

Progressive Employer

Niks is continuously focused on creating an engaging atmosphere for our Employees to learn, contribute and grow. There is an active FUN team that creates opportunities for enjoyment even while working. We believe in timely compliance of all statutory payments especially related to employees. Our company ensures a safe environment, dignity and respect for all our employees irrespective of gender, religion, caste etc.

Quality Assurance and Standards

We are committed to designing process based on customer insights, team wisdom and continuous improvement. Additionally, there is an audit process to check for adherence to process. Last but not the least, the results are monitored to ensure that ROI is achieved both for external and internal Clients.

Needs of Customers

We have a system in place which has attained high level of knowledge about the needs of our customers, resulting from continuous two-way communication between our representatives and customers. We have a team of individuals who are constantly analyzing the market scenario and study our customers requirements. We try to cater to our customers requirements by offering them a vast basket of product range. Our experience combined with our professionalism and capacity to deliver has helped us to grow at a steady rate in the last 7 years. Our aim is to earn customers trust and confidence through personal attention, passion for what we do and commitment to long-lasting relationship. We are prepared to go an extra mile to deliver to our customers a measurable business value and help them adopt and succeed in the industry.

BUSINESS STRATEGY

Increase Brand awareness

We believe that its critical for success of direct sales to have strong brand recognition and recall value. We intend to enhance the brand recognition of our services through our presence in major cities. We also intend to focus on use of targeted marketing initiatives such as digital and print advertisements, as well as marketing through traditional channels such as outdoor advertising. Our marketing and advertising initiatives shall be directed to increase brand awareness, acquire new customers, drive customer traffic across our retail channels and strengthen our brand recall value.

Capitalize growth demand in Industry we serve

We believe that IT sector shall observe a rapid growth in the coming years. Also we believe that demand for services like digital marketing, software development, mobile app development, website development, shall be increased in near future and we intend to capitalize on such growth opportunities. We believe that we are well positioned to cater to demand of such sector with our Services and competitive pricing structure.

Building-up as a Professional Organisation

We believe for a business to grow beyond a certain size, it needs to be run as a professional organisation. No organisation run in a promoter-centric or an unorganised structure can become a large business. We believe in transparency, commitment and coordination in our work, with all our stakeholders. We have the right blend of experienced and dynamic team and staff which takes care of our day-to-day operations. We also consult with external agencies on a case to case basis on technical and financial aspects of our business.

Expanding Our Clientele Network by Geographic expansion:

We believe that our growth in other states in the country can fetch us new business expansion and opportunities. Presently, our Training units in Patna we need to expand either directly or through Franchise. Going forward we intend to establish our presence in few locations in the country. Our emphasis is on scaling up of our operations in other markets which will provide us with attractive opportunities to grow our client base and revenues.

Upgrade our services in line with the students requirement:

Whatever the requirement of our client is, we abide to carry it with full responsibility and dedication and deliver what our client expect from us. We are bound to provide services which are up to date and full proof in current business scenario.

Strengthen human capital

Our employees and management team are our most valuable asset. Investing in human capital by training, and retaining our key people has been and will remain critical to our success. To achieve this, we intend to remain committed to provide our personnel with opportunities to expand our business within their areas of expertise. We will also continue to provide our personnel with personal and professional growth opportunities, including training and performance-based incentives.

Strategic Acquisition and Alliance Opportunities

We intend to explore and evaluate strategic acquisition and technology alliance opportunities to gain access to new clients and sectors, add new technology capabilities to our offerings that drive synergies with our existing business ventures.

Opportunities And Threat

The growth of the Company is subject to opportunities and threats as are applicable to the industry from time to time.

Risks and Concerns

Risk is an inherent part of any business. There are various types of risks, which threat the existence of a company like Credit Risk, Market Risk, Operational Risk, Liquidity Risk, Interest Rate Risk, Strategic Risk, Regulation Risk etc. Your Company aims at enhancing and maximizing shareholders value by achieving appropriate trade-off between risk & returns.

Internal Control System & Adequacy

Internal Control Systems has been designed to provide reasonable assurance that assets are safeguarded, transactions are executed in accordances with managements authorization and properly recorded and accounting records are adequate for preparation of financial statements and other financial information. Internal check is conducted on a periodical basis to ascertain the adequacy and effectiveness of internal control systems

Disclaimer

Statements in the management discussion and analysis report describing the Companys outlook may differ from the actual situation. Important factors that would make a difference to the Companys operations include market factors, government regulations, and developments within the country and abroad. We are under no obligation to publicly amend, modify or revise any forward looking statement on the basis of any subsequent developments, information or events and assume no liability for any action taken by anyone on the basis of any information contained herein.