Saksoft Ltd Share Price – NSE  /  BSE

IT - Software, Small Cap

Founded in 2019, Augmento Labs has established itself as a niche player in the Digital Engineering space offering innovative solutions across various industries including Hi-Tech, automotive, healthcare, and industrial domains. The company has recorded turnover of nearly Rs 45 crore for FY2023-24.

Saksoft has acquired 100% stake in Augmento Labs for a total cash consideration of upto Rs 100 crore, with an upfront cash consideration of Rs 35 crore. The balance as earnout consideration based on performance over two financial years. The company expects to finalize the transaction by the end of the current quarter, pending customary closing conditions.

This acquisition will signiϐicantly enhance Saksoft's ability to offer comprehensive solutions across digital engineering spectrum across our focus verticals,” the company said in a statement.

Aditya Krishna, chairman & managing director, Saksoft, said: “We believe that acquiring Augmento Labs will significantly strengthen Saksoft’s position in the dynamic and rapidly growing digital engineering market.

Augmento Labs robust engineering expertise and domain knowledge will complement Saksoft’s broad scale and digital prowess, providing Augmento Labs esteemed client base access to our cutting-edge AI, cloud, and data technologies.

Saksoft is leading digital transformation solution partner for fintech, transportation & logistics, telecom & utilities, retail e-commerce and healthcare customers worldwide.

The company had reported 3.1% rise in net profit to Rs 23.2 crore on a 1.1% increase in operating income to Rs 194.9 crore in Q4 FY24 over Q3 FY24.

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Saksoft has executed a Share Purchase Agreement (Agreement) to acquire 100% equity interest in Augmento Labs subject to the terms and conditions set out in the Agreement. Augmento Labs will become a wholly owned subsidiary of the Company on closure of the transaction.

This acquisition will strengthen Saksoft's capability in the digital engineering space and will also provide access to enterprise clients.

The cost of acquisition includes cash consideration of up to Rs 100 crore with an upfront cash consideration of Rs 35 crore and the balance as earnout consideration based on performance over two financial years.

Turnover of Augmento Labs for the year ended 31 March 2024 was around Rs. 45 crore.

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Net profit of Saksoft declined 7.16% to Rs 23.20 crore in the quarter ended March 2024 as against Rs 24.99 crore during the previous quarter ended March 2023. Sales rose 7.05% to Rs 194.90 crore in the quarter ended March 2024 as against Rs 182.06 crore during the previous quarter ended March 2023.

For the full year,net profit rose 17.31% to Rs 96.17 crore in the year ended March 2024 as against Rs 81.98 crore during the previous year ended March 2023. Sales rose 14.43% to Rs 761.63 crore in the year ended March 2024 as against Rs 665.60 crore during the previous year ended March 2023.

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Saksoft announced that the 25th Annual General Meeting(AGM) of the company will be held on 7 August 2024.

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