In an interaction with Mridul Maheshwari, Senior Manager, Corporate Development, InfoBeans Technologies Ltd

Armaan Madhani
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In an interaction with Mridul Maheshwari, Senior Manager, Corporate Development, InfoBeans Technologies Ltd

We continue to strongly focus on winning opportunities in the USA as it is one of the biggest IT markets in the world, emphasizes Mridul Maheshwari, Senior Manager, Corporate Development, InfoBeans Technologies Ltd

What is your outlook on the global IT industry? What are the emerging trends that you are witnessing post-pandemic?  

Post-pandemic, the world realised that the adoption of IT must be accelerated. It has created a huge demand for digital transformation services the world over. It is clearly seen in the kind of talent crunch that India is witnessing as it is the world capital of IT offshoring. 

All new projects are implemented over the cloud while demand for automation of business processes is on the rise.  

With an increasing number of Unicorns churning out of India, the talent demand is endless for now and it is expected to continue in the next couple of quarters.  

 

InfoBeans Technologies’ revenue and PAT for FY22 stood at Rs 289 crore & Rs 57 crore; demonstrating robust YoY growth of 47 per cent and 54 per cent, respectively. What factors have contributed the most to help you outperform?  

There are two key factors contributing to our revenue growth: 

  1. Our ability to land into new clients and win new opportunities 
  2. And, our liability to expand into existing clients by delivering value and cross-selling our wide range of services under digital transformation & product engineering.   

We now serve six unicorns and have ten Fortune 500 companies as our active clients. Regarding PAT, certainly, our higher client satisfaction has helped us win better opportunities and profitable projects. On top of it, we also saved certain costs on the account of COVID-19. We expect our PAT margins to normalise to 15 per cent, going forward.  

 

In FY22, the USA accounted for approximately 80 per cent of InfoBeans Technologies' revenues. What are your plans for further diversifying your geography-wise revenue mix?  

Our diversification this year is largely due to Indian clients like Ola. India, as geography, currently forms 10 per cent of our revenue. Given the accelerated need for digital transformation post-pandemic, we are able to win good opportunities.   

We continue to strongly focus on winning opportunities in the USA as it is one of the biggest IT markets in the world.    

 

What are your key growth triggers?  

Landing and expanding into new/existing enterprise clients with strong balance sheets, who have long-term needs for leading-edge cloud solutions with Salesforce and ServiceNow, Automation, Digital Transformation & AI/ML services.   

Also, we continue to invest in building a very strong engineering team to deliver the best solutions.  

Since the time we went public in May 2017, we have focussed on growing our top line aggressively while sustaining the bottom line too. We have successfully delivered on the mandate of growing both organically and inorganically.  

We expanded in three new geographies i.e. India, UAE, and Germany in the last five years, adding about 20 per cent revenue share while the remaining 80 per cent comes from our core market USA.  

We acquired two companies i.e. Philosophie in 2019, which is a US-based design consulting firm, and Eternus Solutions in 2021 (Pune-based Platinum Consulting Partner to Salesforce).  

 

What are your top three strategic priorities?  

Our top three priorities include:

  • Growing rapidly and sustainably  
  • People First - focus on building and growing talent  
  • Stay on the critical path of our clients' business.
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