Given the large PE expansion, is the stock still attractive at current levels? Please share

Sahana Systems is a deep tech service co. specializing in AI, ML, IoT, BI, and blockchain services.

Co. operates across defence tech, fintech, health tech, edutech, and master system integration.

Vision to be a 5000cr enterprise by 2026

Defence Tech:

Co has developed AI-powered systems for the Indian Army, including anti-drone systems and radar systems. (100% Make in India-except Chips)

Co focuses on electronic warfare (EW), information warfare (IW), and digital product engineering for defence.

Products are cost-effective and customisable – competitive edge over intl. players.

Co in talks with neighboring countries to secure critical locations (King’s Palaces) with their anti-drone & radar systems.

Company has worked with the Indian Army, including delivering a system for the evaluation of marching contingents at the Army Day parade.

They have also supplied anti-drone systems to the 26 PAR regiment and Gujarat Police.

Sahana system Worked along with Gujarat Police during PM’s Shri Narendra Modi september’24 visit and provided Anti Drone System for the rally.

Fintech:

Co manages end-user computing for US banks and has developed a homegrown switch for financial institutions

Co is capable of implementing the entire NPCI stack, including UPI & in talks with several countries to implement their interoperable UPI system.

Co. currently executing a large order for digitizing agriculture credit societies worth 70cr. Timeline – 1 yr. Order recd. June 24.

This order is recieved under govt digitalization scheme of PACs (Primary Agricultural Credit Societies) – with total outlay of scheme at 2516 crs.

Co has a no-code AI platform , Co is delivery partner for 3rd largest smart home company in US, Co is working on solutions for smart infra, using AI.

Co working with govt, including Ministry of Petroleum & Mo Ports, on large-scale projects.

Rev Split:
Govt – 65%
Private – 35%

Financials part:
Company has already achieved 77% of last year sales in H1 2024.

Maintaining a healthy EBITDA of 38% from last 2 quarters.

Disc: Invested

My only concern that is preventing me from advancing in my position is that the promoter, Pratik Ramjibhai Kakadia, sold all his shareholding and completely exited Sharanam Infraproject & Trading Ltd in August 2021.
I tried to find the reason behind this, but was unsuccessful. If any of the forum experts have any insights on this matter, I would appreciate it if you could enlighten us.

This is the reason, with IPCA set to take 51% stake in the near future we can expect things happening:

https://www.business-standard.com/article/companies/krebs-bio-shares-zoom-ahead-of-ipca-labs-open-offer-115041400598_1.html

Hi, is someone still tracking this company? If so, why has the stock been hitting circuits for consecutive?