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Exato Technologies IPO
Exato Technologies Ltd
₹2,66,000 /1000 sharesMinimum Investment
Exato Technologies IPO Details
| Bidding dates | Minimum investment | Lot size | Price range |
|---|---|---|---|
| 28 Nov ‘25 - 2 Dec ‘25 | ₹2,66,000 | 1,000 | ₹133 - ₹140 |
| Issue size | IPO doc | Tentative allotment date | Tentative listing date |
|---|---|---|---|
| 37.45 Cr | RHP PDF | 03 Dec ‘25 | 05 Dec ‘25 |
| Face value |
|---|
| 10 |
About Exato Technologies
Founded in
2016
MD/CEO
Mr Appuorv K Sinha
Parent organisation
Exato Technologies Ltd
Strengths & Risks of Exato Technologies
Strengths
Risks
Exato Technologies claims to operate an integrated delivery framework that combines CXaaS with AI orchestration, supported by proprietary tools such as autopilot, copilot, and an orchestrator. These components work together to automate workflows, assist agents in real time, and connect processes across channels. The company states that this unified system enables faster deployment, streamlined execution, and measurable operational improvements for clients.
The company claims to be the Platinum Partner of NICE Ltd. in South Asia and the Middle East and has been recognised as Partner of the Year from 2021 to 2024. Its partnerships with NICE, Mitel, and Acumatica reportedly offer early access to technology updates and specialised training, supporting deployments in CCaaS, conversational AI, automation, and cloud transformation. These collaborations strengthen its ability to deliver industry-specific customer experience solutions.
Exato Technologies claims to derive a significant share of its business from long-term service contracts, typically spanning around 60 months, contributing to predictable recurring income. Annual recurring revenue (ARR) reportedly increased from 48 percent in 2023 and 2024 to 57 percent in 2025. The company also claims an independently certified order book of over Rs 348 crore in 2025, reflecting its ability to secure and execute large-scale engagements across sectors.
The company works across multiple verticals such as banking, financial services, and insurance (BFSI), healthcare, retail, telecom, manufacturing, and information technology/information technology-enabled services (IT/ITeS), reducing dependence on any single industry. It claims to have developed tailored CX and analytics solutions, including fraud prevention models, AI-powered patient engagement systems, churn prediction tools, and supply chain optimisation models. This spread across high-growth sectors provides a diversified revenue base and the ability to address varied market opportunities.
The company has witnessed a consistent increase in its revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 72.76 crore in FY23 to Rs 113.91 crore in FY24 and Rs 124.23 crore in FY25. PAT increased from Rs 5.06 crore in FY23 to Rs 5.30 crore in FY24 and Rs 9.75 crore in FY25.
The top five customers accounted for Rs 47.23 crore (66.47 percent) of the company’s revenue for the period ended September 30, 2025; Rs 84.78 crore (68.25 percent) in FY25; Rs 81.67 crore (71.70 percent) in FY24; and Rs 48.31 crore (66.40 percent) in FY23. The company does not have exclusive arrangements with these customers, meaning competitors may attract them with better pricing or incentives. Any inability to retain these customers or replace lost business could adversely impact the company’s revenue, financial condition, and cash flows.
Maharashtra accounted for Rs 23.41 crore (32.95 percent) of the company’s revenue for the period ended September 30, 2025; Rs 23.53 crore (18.94 percent) in FY25; Rs 58.91 crore (51.72 percent) in FY24; and Rs 35.75 crore (49.13 percent) in FY23. Any political, social, economic, or environmental disruptions in this region could adversely affect the company’s financial results.
The top 10 suppliers accounted for Rs 47.52 crore (97.65 percent) of the company’s total purchases for the period ended September 30, 2025; Rs 81.51 crore (93.66 percent) in FY25; Rs 85.23 crore (91.81 percent) in FY24; and Rs 51.94 crore (88.45 percent) in FY23. Any loss of key vendors, delay in obtaining software licenses, or cost escalations that cannot be passed on to customers may adversely impact the company’s margins, operations, and financial position.
Exato Technologies derives most of its revenue from the BFSI, IT/ITeS and business process outsourcing/knowledge process outsourcing (BPO/KPO) sectors. BFSI accounted for Rs 31.16 crore (43.85 percent) of the company’s revenue for the period ended September 30, 2025; Rs 45.98 crore (37.01 percent) in FY25; Rs 56.13 crore (49.28 percent) in FY24; and Rs 32.47 crore (44.63 percent) in FY23. IT/ITeS and BPO/KPO accounted for Rs 37.15 crore (52.28 percent) of the company’s revenue for the period ended September 30, 2025; Rs 69.17 crore (55.68 percent) in FY25; Rs 46.47 crore (40.79 percent) in FY24; and Rs 34.58 crore (47.52 percent) in FY23. Any downturn, reduced spending, or loss of clients within these concentrated industries may adversely impact the company’s business, revenue, and financial condition.
The company reported negative cash flow from operating activities amounting to Rs 11.36 crore for the period ended September 30, 2025, and Rs 14.12 crore in FY24. Fluctuations in operating cash generation indicate variability in the company’s ability to convert revenue into liquid funds. Any continuation of negative cash flows may adversely affect its operations, financial condition, and liquidity position.
The company and its directors are involved in certain ongoing legal proceedings. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
Exato Technologies faces currency-related risks due to foreign exchange exposure of Rs 17.92 crore for the period ended September 30, 2025, Rs 29.68 crore in FY25, Rs 6.84 crore in FY24, and Rs 5.02 crore in FY23. Volatility in the exchange rate between the Indian rupee and the US dollar can affect the company’s revenue, profitability, and cash flows, especially where exposures are unhedged or insufficiently hedged. Any adverse movement in foreign exchange rates may impact the company’s financial condition, even if hedging contracts are in place, as such instruments carry their own risks and may not fully mitigate losses.
As of September 30, 2025, the company had outstanding financial indebtedness of Rs 27.98 crore. Any failure to service or repay these loans can harm the company’s operations and financial position.
Exato Technologies Financials
*All values are in Rs. Cr
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Application Details of Exato Technologies IPO
| Apply as | Price band | Apply Range | Lot size |
|---|---|---|---|
| Individual investor | ₹133 - 140 | ₹2 - 5 Lakh | 1000 |
For Exato Technologies IPO, eligible investors can apply as Individual investor.