🧾 1. Purpose of the IPO
Offer for Sale: Entirely by Promoter Hiren Rajendra Mehta.
No fresh proceeds to the company – the objective is to achieve listing benefits and provide exit/liquidity to the promoter.
💡 2. Business Overview
Unified Data-Tech Solutions Ltd is a technology-driven company offering:
Data Center Infrastructure
Network & Cybersecurity
Cloud & SaaS Products
IT Services & AMC
The company provides tailored IT solutions with strong implementation and post-sales service capabilities across India.
📈 3. Financial Performance (₹ in Lakhs)
| Metric | FY22 | FY23 | FY24 | Feb 2025* |
|---|---|---|---|---|
| Revenue from Operations | 9,330.45 | 11,048.66 | 26,037.87 | 19,458.77 |
| EBITDA | 1,114.96 | 1,246.90 | 2,786.61 | 3,316.92 |
| EBITDA Margin | 11.95% | 11.29% | 10.70% | 17.05% |
| PAT | 970.88 | 1,040.09 | 2,512.59 | 3,168.31 |
| PAT Margin | 10.41% | 9.41% | 9.65% | 16.28% |
| RoE | 41.03% | 30.85% | 48.81% | 39.66% |
| RoCE | 46.07% | 35.82% | 52.55% | 43.66% |
| Net Worth | 2,851.76 | 3,891.86 | 6,404.45 | 9,572.75 |
📌 *February 2025 figures are unaudited & not annualized.
📊 4. KPI & Valuation Metrics
EPS (FY24): ₹12.51
RoNW: 39.23%
Book Value: ₹31.88
PE (Post IPO at ₹273): ~21.83x
Price to Book (P/BV): ~8.57x
🔬 5. Industry Outlook
Unified operates in the IT Infrastructure and System Integration sector – benefiting from:
Digital transformation in SMEs and corporates
Rising demand for data security, cloud solutions, and virtualization
Strong push for Make in India and local IT procurement policies
The company competes with players like Dynacons, Orient Technologies, and Silver Touch, showing better margins but operates at a smaller scale.
🔄 6. Peer Comparison
| Company | CMP (₹) | EPS | PE | RoNW | Revenue (₹ Cr) |
|---|---|---|---|---|---|
| Unified Data-Tech | NA | ₹12.51 | ~21.8x* | 39.23% | ₹260.38 |
| Dynacons | ₹1018.5 | ₹42.41 | 24.02x | 34.25% | ₹1028.85 |
| Orient Tech | ₹328.65 | ₹11.80 | 27.85x | 23.64% | ₹606.86 |
| Silver Touch | ₹693.45 | ₹12.67 | 54.73x | 14.52% | ₹209.25 |
*Implied at upper band ₹273
🏦 7. Shareholding Pattern
| Shareholder | Pre-IPO | Post-IPO |
|---|---|---|
| Promoters (Hiren Mehta & Family) | 86.73% | 60.39% |
| Public | 13.27% | 39.61% |
Promoter selling 52.92 lakh shares (~26.34% stake) in Offer for Sale.
✅ 8. Strengths
🔹 Strong EBITDA & PAT Margin expansion
🔹 High RoE & RoCE with zero debt
🔹 Award-winning presence and top-tier OEM partnerships
🔹 Strong repeat business model and customer retention
⚠️ 9. Risks & Concerns
❗ 100% Offer for Sale – no fund inflow to company
❗ Limited scale compared to large peers
❗ Operates in a highly competitive and rapidly evolving IT industry
📌 10. Market Sentiment & Underwriter
Listing Exchange: BSE SME
Lead Manager: Hem Securities – reputed in SME IPOs
Registrar: KFin Technologies
📢 Final Thoughts: Should You Invest?
✅ Unified Data-Tech presents a compelling growth story with strong profitability, consistent revenue expansion, and industry relevance in a tech-driven world.
❌ However, being a 100% OFS, investors must evaluate long-term sustainability and post-listing performance.
🎯 Ideal for investors looking for high-growth SME exposure with reasonable valuation and strong return ratios.
⚠️ Disclaimer:
This blog is for educational purposes only. It is not a recommendation to buy/sell any security. Please consult your financial advisor before investing.
