Plada Infotech has a wide-reaching distribution network, spanning across 12 office locations in different Indian cities. They extend their services to even more cities through a network of resident engineers. This extensive coverage allows them to cater to a diverse clientele, serving banks, corporates, SMEs, and various other businesses.
Their after-tax profits increased from Rs. 66.71 lakhs in 2021 to Rs. 109.86 lakhs in 2022 and further to Rs. 233.82 lakhs in 2023. Meanwhile, their total income rose from Rs. 4,460.86 lakhs in 2021 to Rs. 4,887.39 lakhs in 2022 and then to Rs. 6,275.12 lakhs in 2023.
Plada Infotech helps businesses identify and onboard new merchants through a bank referral model and open market strategy.
They offer guidance to merchants in setting up essential infrastructure for accepting customer payments. This involves point-of-sale (POS) systems, payment gateways, and other payment processing technologies, ensuring a smooth transition.
Plada Infotech faces significant government regulations, potentially limiting its service offerings and increasing costs, impacting its earnings. Delays or denials in obtaining required licenses and approvals may disrupt company operations.
The company hasn't set aside funds for gratuity according to AS 15 - Employee Benefits by ICAI for some employees, as they have an arrangement with clients for gratuity reimbursement alongside employee compensation.
During the COVID-19 pandemic, Plada Infotech used moratorium facilities provided by specific banks and financial institutions.
Due to the nature of their staffing services, the company may encounter risks, claims, and losses related to employees, which could harm their reputation and business.
There is an ongoing legal matter involving the company, and an unfavorable outcome could significantly impact its financial condition and operations.
Plada Infotech has previously experienced negative cash flow and may continue to do so, potentially affecting its business, financial health, and results.
The company has taken unsecured loans, with Rs. 182.35 lakhs outstanding as of July 31, 2023, which may be subject to recall at any time.