Infibeam Avenues Ltd Share Price – NSE  / BSE

IT - Software, Small Cap

The company said that the Phronetic.AI, the Artificial Intelligence arm of India’s leading publicly listed fintech company, Infibeam Avenues secures two major contracts that will bring its cutting-edge Theia Vision AI technology to leading regional hospitals and an international gas station chain.

The Theia Vision AI contracts represent a significant milestone in Phronetic.AI’s growth strategy. The company continues to expand its portfolio of AI solutions, with Vision AI playing a critical role in sectors where precision, safety, and efficiency are paramount.

The total value is expected to be $1 million per annum. The total tenure for each contract with five hospitals in India and the UAE-based gas station chain is five years with optionality to extend further.

The company’s contracts with the five leading hospitals for its Phronetic.AI’s Theia Vision AI technology product ‘AI Facility Manager’, will be integrated across multiple facilities within the hospital. This aims to revolutionize patient care, streamline operations, and enhance safety protocols through advanced visual data analysis.

The proprietary Theia Vision AI technology will enable hospitals to improve diagnostics, monitor patient conditions in real-time, and optimize resource allocation, setting a new standard for healthcare innovation.

Simultaneously, Phronetic.AI has also secured a global contract with a UAE-headquartered gas station chain, a leading name in the energy sector. The deployment of Vision AI product – ‘AI Facility Manager’ across the chain's gas stations will focus on enhancing security, improving customer service, and optimizing operational workflows.

The ‘AI Facility Manager’ also has added a feature for ‘Women Safety’, where with a hand gesture towards CCTVs, a woman can send a SOS signal, which gets immediately captured by Phronetic.AI’s proprietary Theia Vision AI technology, ensuring greater safety for women in public and workplace environments, while also driving operational efficiencies for corporates and organisations.

Infibeam Avenues is one of the leading global financial technology (fintech) company offering comprehensive digital payment solutions and enterprise software platforms to businesses and governments across industry verticals. The company's payment infrastructure solution includes acquiring and issuing solutions and offering infrastructure for banks.

The company’s consolidated net profit surged 59.49% to Rs 50.4 crore in Q1 FY25 as compared with Rs 31.6 crore in Q1 FY24. In the quarter ending 30 June 2024, the company reported a 1.40% YoY increase in gross revenue to Rs 752.8 crore. Additionally, net revenue jumped by 19.93% to Rs 118.5 crore in June 2024 quarter as compared to Rs 98.8 crore recorded in the corresponding quarter of the previous year.

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Infibeam Avenues announced that the company is in receipt of Contract(s) with a leading chain of Hospitals and Gas-Station chain for its first AI product- 'AI Facility Manager'.

Phronetic.AI, the Artificial Intelligence arm of Infibeam Avenues has secured two major contracts that will bring its cutting-edge Theia Vision AI technology to leading regional hospitals and an international gas station chain.

Theia Vision AI contracts represent a significant milestone in Phronetic.AI's growth strategy. The company continues to expand its portfolio of AI solutions, with Vision AI playing a critical role in sectors where precision, safety, and efficiency are paramount. The total value is expected to be USD 1 million per annum. The total tenure for each contract with five hospitals in India and the UAE-based gas station chain is five years with optionality to extend further.

The company's contracts with the five leading hospitals for its Phronetic.AI's Theia Vision AI technology product 'AI Facility Manager', will be integrated across multiple facilities within the hospital. This aims to revolutionize patient care, streamline operations, and enhance safety protocols through advanced visual data analysis. The proprietary Theia Vision AI technology will enable hospitals to improve diagnostics, monitor patient conditions in real-time, and optimize resource allocation, setting a new standard for healthcare innovation.

Simultaneously, Phronetic.AI has also secured a global contract with a UAE-headquartered gas station chain, a leading name in the energy sector. The deployment of Vision AI product - 'AI Facility Manager' across the chain's gas stations will focus on enhancing security, improving customer service, and optimizing operational workflows. With capabilities such as real-time threat detection, automated transaction monitoring, and customer behaviour analysis, Vision AI is set to transform the way this global energy player operates its retail outlets.

The 'AI Facility Manager' also has added a feature for 'Women Safety', where with a hand gesture towards CCTVs, a woman can send a SOS signal, which gets immediately captured by Phronetic.AI's proprietary Theia Vision AI technology, ensuring greater safety for women in public and workplace environments, while also driving operational efficiencies for corporates and organisations.

The 'AI Facility Manager' is an AI product built over Phronetic.AI's proprietary Theia Vision AI technology. One of the key aspects of this technology is that it fits into any existing CCTV infrastructure and can be deployed within just five minutes. Thus, onboarding of clients is extremely simple and requires no changes to the client's existing CCTV infrastructure.

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Infibeam Avenues announced that it has entered into a definitive agreement for a 54% stake in Rediff.com India, one of India's oldest and most renowned internet businesses. This internally funded acquisition marks a significant milestone for Infibeam Avenues, marking the beginning of its consumer facing digital financial service as an aggregator backed by a mainstream news, cloud based enterprise email storage, and collaboration platform.

Currently, Infibeam Avenues provides digital payment gateway (CCAvenue), enterprise software platforms, and AI solutions to various businesses and government entities.

Rediff.com, with its diverse services including cloud based enterprise email storage, content distribution and related commerce services offering a broad digital platforms. Infibeam plans to synergize its various digital payment services, platform business offerings, and AI solutions with Rediff.com's services, creating a comprehensive digital environment where financial transactions and content consumption coexist. This integration is expected to enhance user engagement and open new revenue streams.

Rediff has a substantial user base and data assets and ranks amongst the top 1000 sites globally in traffic with more than 55 million monthly visitors, providing valuable insights into user behaviour, preferences, and spending patterns. Rediff.com's user base offers fertile ground for cross-selling financial products using artificial intelligence such as loans, insurance, and investment products. RediffMONEY can use the platform to promote these services, increasing product uptake and offer customer lifetime value.

Infibeam plans to diversity its portfolio offering by synergizing with Rediff.com's portfolio - enterprise email to merchants, consumer financial services and content businesses, which will open up new revenue stream for the company. This will also enhance footprint in the digital economy for the company, backed by its regulatory capabilities.

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In the quarter ending 30 June 2024, the company reported a 1.40% YoY increase in gross revenue to Rs 752.8 crore. Additionally, net revenue jumped by 19.93% to Rs 118.5 crore in June 2024 quarter as compared to Rs 98.8 crore recorded in the corresponding quarter of the previous year.

Profit before tax zoomed to Rs 83.36 crore in first quarter of FY25 as against 35.16 crore reported in same quarter last year.

For Q1, EBITDA jumped 25.08% to Rs 69.8 crore as against Rs 55.8 crore posted in corresponding quarter previous fiscal. EBITDA margin improved to 59% in Q1 FY25 as against 57% in Q1 FY24.

During the quarter, TPV surged 67% to Rs 19,769.1 crore, largely due to rising use of digital payments and also surge in company’s merchant base due to increase use of digital POS product– CCAvenue TapPay amongst merchants. CCAvenue’s deep integrations across thousands of third-party merchant systems, fostered continued growth and success.

In the Jun’24 quarter, the company observed an increase in the take rate, rising from 8.4 basis points (bps) in Q1 FY24 to 11.2 bps in Q1 FY25. This improvement is attributed to the disciplined execution, optimization and reimagining digital payments from teams across Infibeam.

In Q1FY25, there has been substantial addition in merchants registering at a daily average of more than 2,550 merchant accounts to company’s total merchant base.

Vishwas Patel, joint managing director of Infibeam Avenues said, “We have worked hard in optimizing every layer of our payment infrastructure stack to ensure increase in our net take rate to double digits and pleased to report that our net take rate has increased to 11.2 bps in Q1FY25. Our international business especially in UAE has also picked up scale processing AED 1.5bn per month with double digit take rates. We are pleased to report that our subsidiary in Saudi has been granted a Payment Technical Service Provider (PTSP) certification from the Saudi Central Bank (formerly Saudi Arabian Monetary Authority, SAMA).

This certification allows Infibeam's flagship payment platform, CCAvenue, to operate as a payment processor in the country. This makes Infibeam the first Indian fintech company to achieve such a milestone in Saudi Arabia, positioning CCAvenue as a major player in the digital payments market in Saudi Arabia.”

Vishal Mehta, chairman and managing director, Infibeam Avenues, said, We have a good beginning for the financial year FY25 as we have registered good growth in the first quarter. We continue to scale high with our payments and platform business vertical. With addition of emerging technologies and investment in innovation, especially in Artificial Intelligence, we expect to further accelerate our company’s growth in coming quarters in this fiscal year. Our new business vertical in AI will play a crucial role in recalibrating the growth trajectory of the company and expect to deliver value to all stakeholders.”

Meanwhile, the board has approved an investment to acquire a 54% stake in Rediff.com. This acquisition will be financed through internal accruals, and following the investment, Rediff.com will become a subsidiary of Infibeam Avenues. This strategic move represents the company's expansion into the cloud infrastructure and financial aggregator sectors, where it plans to provide financial services and products to both merchants and consumers. The cost of acquisition will not be exceeding Rs 25 crore and it will be completed within 90 days.

Infibeam Avenues is one of the leading global financial technology (fintech) company offering comprehensive digital payment solutions and enterprise software platforms to businesses and governments across industry verticals. The company's payment infrastructure solution includes acquiring and issuing solutions and offering infrastructure for banks.

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