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Canarys Automations IPO
Canarys Automations Limited
₹1,16,000 /4000 sharesMinimum Investment
Canarys Automations IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 27 Sep ‘23 - 3 Oct ‘23 | ₹1,16,000 | 4,000 | ₹29 - ₹31 |
| Issue Size | IPO Doc |
|---|---|
| 47.03Cr | RHP PDF |
About Canarys Automations
Founded in
1991
Managing director
Mr. Metikurke Ramaswamy Raman Subbarao
Parent organisation
Canarys Automations Limited
Strengths & Financials of Canarys Automations
Strengths
Risks
Canarys Automations has been providing business applications to around 1000 customers for over three decades. They've served clients not only in India but also in more than ten countries, including the USA, UK, Canada, Germany, Singapore, Malaysia, Brunei, Australia, Sri Lanka, and Indonesia.
During the fiscal years 2021 to 2023, their total revenue increased at a rate of 43%, and their profit after tax saw a growth of 59.49%.
Canarys Automations has developed advanced DevOps solutions, frameworks, and processes to assist customers in smoothly transitioning to the DevOps platform, covering all aspects of transformation and consolidation.
They have also created industry-specific and technology-specific solutions that demonstrate their technological capabilities to both current and potential clients.
With a strong focus on digital transformation, Canarys Automations empowers businesses to optimize their operations, improve customer experiences, and maintain a competitive edge.
Their commitment to excellence has earned them recognition and accolades from various customers, alliance partners, and OEMs.
Canarys Automations relies heavily on customers in the United States for its revenue. In 2023, 2022, and 2021, US customers accounted for 23.52%, 17.39%, and 24.82% of its revenue, with a single US customer contributing 6.00%, 3.72%, and 7.27% in the same periods.
Canarys Automations lacks long-term commitments with customers, making it vulnerable to contract terminations, unfavorable terms, or non-renewals, which could negatively affect its financial stability.
The company's revenue heavily relies on specific industry sectors, such as BFSI, healthcare, manufacturing, pharmaceuticals, and insurance. If demand for services in these sectors drops, the company's financial standing could be harmed.
Canarys Automations uses third-party open-source software in its customer deliverables, and not complying with the open-source software licenses could lead to customer issues and potential legal liabilities.
The company has a history of losses, and future losses could impact its operations, financial condition, and stock price.
There is no suitable location identified for a new delivery center in Karnataka, India.
The company has taken unsecured loans, with an outstanding amount of Rs. 543.70 Lakh as of March 31, 2023.
Subsidiaries and joint ventures of the company have incurred losses in the past.
There are ongoing legal proceedings involving the company, and unfavorable outcomes could materially affect its business and financial condition.
For the past three financial years, the company has experienced negative cash flow in its operating activities.
Canarys Automations Financials
*All values are in Rs. Cr
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Application Details of Canarys Automations IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹29 - 31 | ₹2 - 5 Lakh |
| High Networth Individual | ₹29 - 31 | ₹2 - 5 Lakh |
For Canarys Automations IPO, eligible investors can apply as Regular.