In 2023, Micropro Software garnered approximately 61.34% of its revenues from repeat customers, while in 2022, this figure was 70.01%.
The company's net profit rose from Rs. 129.50 lakhs in 2021 to Rs. 267.141 lakhs in 2022. Furthermore, in 2023, the net profit increased to ₹ 591.79 lakhs, indicating a gain of Rs. 324.65 lakhs.
Micropro Software plans to expand its presence geographically, focusing on key clients in closer proximity.
Total revenue increased by Rs. 462.03 lakhs or 26.32%, rising from Rs. 1755.17 lakhs in 2022 to Rs. 2217.20 lakhs in 2023.
Micropro Software offers various manpower services across domains, including project-based staffing and experience.
They provide Angular development services for creating modern, interactive web applications. Skilled developers use Angular frameworks to build responsive interfaces, robust features, and seamless backend integration, catering to diverse client needs.
Micropro Software offers Java development services, including the design, development, and maintenance of Java-based applications. Their experienced team creates scalable and secure solutions tailored to specific client requirements.
They specialize in Jasper Report development, delivering customized reporting solutions with visually appealing and data-rich reports that empower data-driven decision-making.
Their comprehensive database services encompass all aspects of database management, from design to optimization to security.
Micropro Software's PHP development services offer robust and scalable web application solutions tailored to clients' business requirements
Micropro Software's business and financial performance rely on the contracts it establishes with its customers. Any violation of these contract terms could have a detrimental impact on their business and financial results.
Fluctuations in exchange rates across different currencies used in their business operations may adversely affect their business, financial stability, and operational outcomes.
Micropro Software could face legal liability for any system failures, disclosure of confidential information, or breaches in data security, potentially harming their reputation, damaging client relationships, and leading to client attrition.
The company's international sales and operations carry additional risks that can negatively affect its operational performance. A substantial portion of its revenue- approximately 25.21%, 21.74%, and 24.27% in 2023, 2022, and 2021, respectively- is generated from operations outside India.
Micropro Software might encounter difficulties extending client contracts, necessitating periodic renegotiations. Clients may terminate contracts prematurely, demand unfavorable terms, or choose not to renew, significantly impacting their business, financial condition, and operational results.
Their software products and services may contain coding errors, configuration issues, or other defects that could harm their reputation, incur substantial correction costs, delay revenues, and expose them to potential litigation.
Engaging in sales to government departments and agencies exposes Micropro Software to business volatility and risks influenced by government budgeting cycles and appropriations.
The potential loss of licenses for third-party software or the absence of support and enhancements for such software could negatively affect their business and operations.
Micropro Software has invested in other companies, which presents an opportunity for substantial returns but also carries a high level of risk that could lead to significant losses.
As of May 31, 2023, their outstanding borrowings, including current and non-current borrowings, amounted to Rs. 338.03 lakhs, which is a significant financial obligation.
The company's contingent liabilities, as disclosed in their Restated Financial Information, have the potential to negatively impact their financial condition.
In the past, Micropro Software has experienced negative cash flows from financing activities and cannot guarantee that they won't face similar challenges in the future. Negative cash flows can adversely affect their financial condition, operational results, and prospects.