rajpanda Dragonpass and Priority Pass are coving most of the world and their customers are lets say mostly from developed countries (banks).
Simply put, I live in UAE, Where banks pay many times approx. 10000rs to customer (as points,cashback etc.)
Now once customer is on board, they have simply have 3 to 4 times revenues then per customer in India due to currency, exchange rate etc.
Many cards charge approx. 15000 rs. per year to credit card holders, so they are in better shape to pay to priority pass and dragon pass.
Disclosure: Invested and adding in correction.

Dead Company Walking: Unraveling Vakrangee’s Struggles Amidst Evolutionary Shifts
Vakrangee Limited, a technology-focused entity, serves as a provider of an extensive range of financial and non-financial services to the rural population across India. However, recent trends in the company’s performance have sparked concerns regarding its ongoing viability, prompting speculation that it may be traversing a path toward becoming a “dead company walking.”

A pivotal factor contributing significantly to Vakrangee’s current struggles comes from its outdated business model. This model, unfortunately, has triggered a noticeable decline in the company’s customer base. At its core, Vakrangee’s operations revolve around delivering financial services to rural clients. Regrettably, this particular market segment is experiencing contraction due to the expanding accessibility of formalized banking services in rural regions of India. Consequently, Vakrangee’s incapability to swiftly adjust and align itself with this ever-evolving landscape has precipitated a consistent erosion of its customer numbers over time.

Concurrently, the company finds itself grappling with a challenging financial scenario, compounded by two concurrent pressures: the diminishing count of customers availing its services and the escalating competition from alternative service providers.

Considering the amalgamation of these formidable challenges, the prospects of Vakrangee achieving sustained profitability and generating substantial shareholder wealth appears to be bleak.

Hi StageInvesting,

Can you please share chart analysis of Subros

Shivalik Bimetal Controls included in MSCI Small Cap Index.

The street expects all banks to significantly grow their Retail book. Within retail the expectation is that yields will improve. That is where Credit Cards play a big role. With the surge in UPI which is essentially a competition to CC, banks are under tremendous pressure to protect and grow their CC. In such a scenario, they will only have higher budgets to meet the objectives going forward.

Coming to the point on permanent damage to Margins. Will it be possible for banks to get a competitor to hit margins of Dreamfolks and negotiate better ? We know that Dreamfolks is getting access to card specific details from banks and any breach can have regulatory implications. So will banks trust this to a new player to save some margin ? Would doubt it.

In fact basis multiple new Airports coming up and Lounges becoming a possibility in many Railway stations, the growth opportunity is significant. The YoY growth of 60% confirms that. As long as the topline keeps growing, I would not be worried.

Disc : Invested with average acquisition price lower than current levels