Saksoft Ltd – Value buy in an exploding mobile and tablet market

Hi @onliabhishek company acquired ThreeSixtyLogica in Dec 2014. ThreeSixtyLogica earned revenue of INR 275.58mn during financial year 2014-15 compared to INR 147.02mn during financial year 2013-14, a growth of 87.44%. The PBT of ThreeSixtyLogica grew by 161% on consolidated basis and increased to INR 75.60mn during financial year 2014-15 compared to INR 28.92mn during financial year 2013-14. Of the above the proportionate amounts pertaining to the quarter ending March 2015 have been used for consolidation purposes.

Takeaway –
1. ThreeSixtyLogica at no growth rate will safely contribute 7.5 crs. to PBT. So we are looking at ~INR 22crs FY2016E PAT
2. SQS India BFSI – another listed IT company in testing is trading at ~38x P/E. Saksoft is very cheap in that regard

P.S. not yet invested. Evaluating between Allsec Technology, Kellton and Saksoft
Allsec and Saksoft have similar market cap. But growth of Allsec numbers will be stronger in case closure of Mortgage business.