Orient Technologies Limited, founded in July 1997 and headquartered in Mumbai, is a leading IT solutions provider. The company specializes in IT infrastructure, IT-enabled services (IteS), and cloud and data management services. It serves a diverse clientele across industries such as banking, finance, insurance, IT, and healthcare. The company operates mainly in 3 verticals.

• IT Infrastructure: Data Centre Solutions, End-User Computing.
• IteS: Managed Services, Multi-Vendor Support, IT Facility Management, Network Operations Centre, Security, Renewals.
• Cloud and Data Management: Workload migration to cloud.

The company has a strong national presence with offices in major cities like Navi Mumbai, Pune, Ahmedabad, New Delhi, Bengaluru, and Chennai. It has a workforce of 1,482 employees as of June 30, 2024.

Orient Technologies has achieved several significant certifications, including ISO 27001:2013, ISO 20000-1:2018, ISO 9001:2015, ISO/IEC 27001:2013, ISO 22301:2012, and CMMI Maturity Level 3, reflecting its commitment to quality, security, and process excellence.

For the year/period ended (Rs. in Cr.)

For year/ period ended ( in Cr.)

• Strong Promoters and Experienced Management
• Comprehensive Service Offerings
• Vast Geographical Reach
• Good Financial Performance
• Partnerships and Technical Expertise with Renowned Brands

• Acquisition of Office Premises: Purchasing office space at Navi Mumbai to expand their physical infrastructure.
• Funding Capital Expenditure:
  • Setting up a Network Operating Centre (NOC) and a Security Operations Centre (SOC) at the new premises.
  • Acquiring equipment and devices to launch a Device-as-a-Service (DaaS) offering.
• General Corporate Purposes: This includes a range of strategic initiatives, growth opportunities, marketing, and other corporate needs​​.

Valuation & View: The Company operates in a highly competitive and fragmented market where there are leading companies present. The stock is expected to be listed at a PE ratio of 17.46 and a P/BV ratio of 4.21 considering upper price. The company’s EBITDA margin has remained stagnant, and the PAT margin has shrunk by 30bps in the last two financial years. Due to these factors, we maintain a neutral outlook for the stock. For investors looking to invest, we suggest to review the results of the last two quarters to understand the margin and revenue visibility better.