Quadpro ITeS Management Discussions


The Managements views on the Companys Performance and outlook are discussed below:

Overview of the Industry

In the year 2022-23, the Information Technology (IT) and IT-enabled Services (ITeS) industry in the country witnessed significant growth and evolution. The sector demonstrated remarkable adaptability in response to changing global dynamics, leading to an expansion in its market share and economic contribution. Compared to previous years, the industry experienced a substantial increase in export revenue, driven by the continued demand for software development, digital transformation services, and remote work solutions. The rise of emerging technologies such as artificial intelligence, cloud computing, and blockchain further bolstered the industrys capabilities, attracting both domestic and foreign investments. This growth was also supported by government initiatives to promote digital literacy and innovation. Overall, the IT and ITeS industry in the country maintained its upward trajectory, reinforcing its position as a vital driver of economic progress and technological innovation.

Our Business

In the fiscal year 2022-23, Quadpro ITeS Limited experienced remarkable growth and expansion. As specialists in Banking back-end processing and Check Truncation System (CTS) solutions, weve solidified our position within the consortium of banks in South India. This year, we broadened our territorial reach and welcomed new clients, enhancing our presence in the sector. Our expertise covers the Banking, Insurance, and Telecom sectors. Collaborations with top hardware and software solution providers have further enriched our portfolio, which now includes advanced desktops, servers, and scanners. In addition to extending services to new clients, weve introduced new verticals within transaction processing, diversifying our offerings. Our esteemed client base, including names like ICICI Bank Ltd, Citibank NA, and Deutsche Bank, speaks volumes about the trust and quality weve established over time. Compared to last year, this period signifies both growth in numbers and depth in value. With a dedicated team and our partners support, were poised for continued success and innovation in the upcoming years.

Opportunities and Threats

In the fiscal year 2022-23, Quadpro ITeS Limited has continued to ride the wave of opportunities, building on our momentous achievements from the previous year. Following our successful Initial Public Offering (IPO) in 2021-22, which saw an overwhelming investor response on the NSE Emerge Platform, weve further fortified our market position. Our expansion endeavors have been multi-pronged. Weve launched innovative services while also extending our tried-and-tested offerings to a broader clientele. This year, our portfolio was enriched with enhancements in CTS Processing, amplified CMS support for banks, robust doorstep banking solutions, and advanced Software as a Service (SaaS) offerings. Weve also made notable inroads in the realms of software development and E-commerce support services, meeting the evolving needs of our customers. While we celebrate our milestones, we remain cognizant of the ever-evolving global landscape. Economic fluctuations, regulatory adjustments, geopolitical shifts, and other unpredictable factors persist as potential challenges. Such externalities can sway our operations, affect our cost structures, and influence stock valuations. However, with the experience garnered over the years, we are more equipped than ever to address these challenges. Our commitment remains unwavering: to tackle uncertainties with agility and ensure our strategies remain aligned with our overarching objectives.

Internal Controls and Their Adequacies

The internal control system is intended to increase transparency and accountability in an organizations process of designing and implementing a system of internal control. They have been designed to provide reasonable assurance with regard to recording and providing reliable financial and operational information, complying with applicable statutes, safeguarding assets from unauthorized use, executing transaction with proper authorization and ensuring compliance of corporate policies.

Human Resources/ Industrial Relations

In the new fiscal year, Quadpro continues to recognize that our employees are the cornerstone of our success and the driving force behind our sustained growth and innovation. Building on our previous commitments, weve amplified our investments in our team through enhanced initiatives and programs. Their unwavering dedication, skill sets, and collaborative spirit across all domains remain integral to our achievements. Now, more than ever, we emphasize the significance of cultivating a work culture that encourages teamwork, innovation, and offers robust avenues for professional advancement.

Ratio Analysis

PARTICULARS F.Y 2020-21 F.Y 2021-22 F.Y. 2022-23
Revenue 1,034.95 1,004.22 938.55
EBIT 113.77 138.47 120.81
PAT 72.72 96.51 85.56
NETWORTH 285.58 1,754.11 1,839.67
CAPITAL EMPLOYED 325.83 1768.25 1852.1
ROCE 34.92% 7.83% 6.52%


For and on behalf of the Board For and on behalf of the Board
Sd/- Sd/-
Date : August 25, 2023 Sandeepkumar Vishwanath Agrawal Abhishek Sandeepkumar Agrawal
Place : Bangalore Director Director
(DIN : 02566480) (DIN : 07613943)