| Establish track record of Operations and Experienced management in Geo Spatial Solutions:
IICT has more than 25 years of experience in providing geospatial solutions and services, with capabilities in marine charting, land mapping and software design solutions to reputed government clientele and corporations engaged in oil and gas, transportation, infrastructure and Utility sectors. Company has its corporate office in Hyderabad and branch office at Vizag SEZ for providing data processing services for overseas clientele. Company has subsidiaries in US and Canada named IIC Technologies Inc.(US) and IIC Technologies Inc. (Canada) both established in 2001 for providing GIS services in US and Canada. IIC Technologies Pty Ltd (Australia) was formed in 2006 for providing digital mapping services to Australian clientele and IIC Technologies Ltd(UK) was formed in 2010 for providing digital mapping services for European clientele and company has recently established an office in New Zealand for service New Zealand based clientele. IIC technologies Pvt ltd(India) is holding company of all its subsidiaries.
Engaged in providing end-to-end geo spatial solutions
IICT is engaged in providing end-to-end geo spatial solutions this involve collection of data and processing data as per requirement of clients. Data collection is done either through aerial surveys using aircrafts or manual surveys involving ground vehicles and surveying equipment’s, for performing aerial surveying IICT owns two aircrafts. IICT’s corporate office in Hyderabad provides services of both collection and processing of data, branch office at Vizag SEZ provides only processing services for its subsidiaries and overseas clientele. IICT’s subsidiaries at US, Canada, UK and Australia has their own independent marketing, data processing teams and performs data collection services by hiring aircrafts and other required equipment.
Reputed Clientele in both government and private sector
The company has established relationship with its customers across different nations; which helped them in getting the repeated orders from client and also with the companies established track record of operations and experience of promoters and qualified management has helped the company in getting the government orders from Survey of India, various state government departments and public sector undertakings. The company also caters to private company like BOSCH, UKHO, SHOM, Digital globe etc. Company receives government orders through participation in tendering process, historically company undertook both state and central government projects but due to delay in receivables from various state governments; now company is majorly focusing on central government and private company projects.
|
| Working capital Intensive Operations
The working capital operations of the company are intensive with GCA days of 232 days as on March 31, 2022 as against 271 days as on March 31, 2021. This is on account of stretched debtor days. The debtor days stood at 167 days as on March 31, 2022 as against 175 days as on March 31, 2021. The stretched debtor days are on account of delay in collection from state governments and government agencies; the receivables for FY2022 further delayed owing to 50 percent of revenue proportion caters to last quarter of FY2022. The working capital limits of the company remained utilized at 65 percent for the last twelve months ended August 2022.
Exposed to foreign Exchange Risk
The company is exposed to currency fluctuations for its foreign currency receivables and adverse movement in exchange rate. However, it has reported positive gains on foreign currency variation in last two years due to sizable export revenue and favorable movement in exchange rate.
|
