ROX Hi-Tech Limited is a Chennai-headquartered IT solutions provider with over **24 years** of experience in digital transformation and technology innovation. Originally established as an **IBM Business Partner** in **2002**, the company has evolved into a comprehensive system integrator and technology partner. Following its successful listing on the **NSE Emerge** platform in **November 2023**, the company is transitioning into a next-generation **Managed Services Provider (MSP)**, focusing on **Agentic AI**, **Cloud solutions**, and **Medical Automation**. --- ### **Core Technology Verticals & "Edge to AI" Solutions** The company operates through a unified business segment providing converged architecture across several key technology domains: | Segment | Key Offerings & Capabilities | Strategic Partners | | :--- | :--- | :--- | | **Enterprise Applications** | **SAP S/4HANA**, **RISE/GROW with SAP**, **SAP BTP**, and **Ariba**. Includes L1-L3 support and Application Managed Services (**AMS**). | **SAP**, **IBM** | | **Cybersecurity** | **IT/OT Security**, **Zero Trust**, **XDR/EDR**, and **SIEM**. Features a fully operational **Security Operations Center (SOC)**. | **Cisco (Talos)** | | **Network & Collaboration** | **SD-WAN**, **Software-Defined Networking (SDN)**, **Wi-Fi 6/6E**, and **Unified Communications**. Supported by a **NOC**. | **Cisco** | | **Infrastructure & Cloud** | **Hyper-Converged Infrastructure (HCI)**, **Hybrid/Multi-cloud** (AWS, Azure, GCP), and **IBM Power VS**. | **IBM**, **Google Cloud**, **AWS** | | **Intelligent Automation** | **Robotic Process Automation (RPA)**, **Generative AI**, and **BPM** via the **Chorus** suite. | **SS&C Blue Prism** | | **Smart Solutions (IoT)** | End-to-end **IoT** stacks, **Smart Infrastructure**, and **Integrated Building Management Systems**. | Various Industrial OEMs | | **Endpoint Solutions** | **Device as a Service (DaaS)**, **VDI** (VMware/Citrix), and **Enterprise Mobility Management (EMM)**. | **Lenovo** | --- ### **Strategic Alliances & Tier-Partner Roadmap** ROX maintains high-level certifications with global Original Equipment Manufacturers (OEMs), which serve as a significant barrier to entry: * **IBM:** **Platinum Partner**; established a dedicated **Center of Excellence (COE) for IBM Power VS**. * **SAP:** **Gold Partner** (transitioning to **Platinum**); first partner to win **RISE with SAP** deals in its territory. * **Cisco:** **Premier Partner** (elevating to **Gold** status) with specializations in Datacenter, Security, and Hybrid Work. * **Lenovo:** **Platinum Partner** status. * **Google:** Strategic partner for **Vertex AI**, **GCP**, and **Google Workspace (GWS)**. * **SS&C Blue Prism:** Strategic alliance for **Agentic AI** and **Intelligent Automation** across India and South Asia. --- ### **Global Footprint & Operational Expansion** To support international delivery and capture high-value markets, ROX has aggressively expanded its geographic presence through new subsidiaries established in **2024-2025**: * **Domestic Hubs:** Headquarters in **Chennai** with offices in **Bangalore, Hyderabad, Ahmedabad, Noida, Mumbai, and Puducherry**. A new **50-seater unit** was recently opened in the **ELCOT SEZ, Trichy** to enhance export capabilities. * **Singapore (ROX Hi-Tech Pte. Ltd.):** Strategic hub for Southeast Asia sales and hardware distribution. * **USA (ROX Hi-Tech Inc.):** California-based onshore presence for North American clients, partnering with **IBM Services**. * **Europe (ROX Hi-Tech ApS):** Denmark-based entry point for the Nordic market. * **Mauritius (ROX Hi-Tech Mauritius Ltd.):** Hub for Africa and international IT consulting. --- ### **Client Portfolio & Project Execution** ROX serves a diverse base of **350+ customers**, including **Fortune 1,000** companies across BFSI, Healthcare, Manufacturing, and Education. * **Retention & Concentration:** Maintains a **90% Customer Retention Ratio (CRR)**. The **Top 10 clients** contributed **45% of revenue** in **FY 2023-24**. * **Order Book:** Total order book stands at **₹150 crore** (as of May 2025), including **₹40 crore** in active digital transformation pipelines. * **Key Recent Wins:** **GROW with SAP** implementations for **Everrenew** and **Indocool Composites**; AI solutions for **Ashok Leyland’s EV division (Switch Mobility)**. Other major clients include **Micron, Vestas, and Waters Corporation**. --- ### **Financial Performance & Capital Structure** The company has demonstrated a trend of revenue growth and significant deleveraging since its IPO. **Consolidated Financial Summary:** | Particulars | FY25 | FY24 | Variance | | :--- | :--- | :--- | :--- | | **Total Income** | **₹190.14 Cr** | **₹176.50 Cr** | **+7.7%** | | **EBITDA** | **₹31.82 Cr** | **₹32.23 Cr** | **-1.3%** | | **PAT (Net Profit)** | **₹19.93 Cr** | **₹21.24 Cr** | **-6.2%** | | **EBITDA Margin** | **16.74%** | **16.49%** | **+25 bps** | | **Net Worth** | **₹110.15 Cr** | **₹92.52 Cr** | **+19.1%** | | **Debt-to-Equity** | **0.43** | **0.23** | **N/A** | **Capital Raising & Liquidity:** * **IPO:** Raised **₹54.49 Cr** in **November 2023** (oversubscribed **214.44x**) at **₹83/share**. * **Warrants:** Issued **30,92,782 Fully Convertible Warrants** to Promoters at **₹48.50** (totaling **₹14.99 Cr**) to fund expansion. * **Bonus Issue:** Executed a **5:4 bonus issue** in July 2023. * **Cash Position:** Healthy cash balance of **₹27.45 Cr** as of March 2025. --- ### **Future Growth Catalysts: AI & Medical Automation** ROX is pivoting toward high-margin proprietary and specialized AI solutions: * **Medical Automation Platform:** Developing an AI-driven assist system for surgeons via a dedicated **COE**. The platform utilizes **Meta’s LAMA Model** for clinical documentation and diagnostics (currently in final stages/Beta). * **Agentic AI:** Utilizing **Digital Workers** (AI software robots) to target **25-40% reductions** in client operational costs. * **Campus-to-Corporate:** Over **60%** of the workforce consists of fresh graduates, managed through a structured training program to mitigate high lateral hiring costs. --- ### **Risk Management & Mitigation** The company operates under a formal risk management policy (effective **July 2023**) to address the following: * **Macroeconomic Pressures:** Navigating **U.S. tariffs** (March 2025) on hardware and global growth stabilization at **2.8%-3.0%**. * **Talent & Obsolescence:** Mitigated by the **ROX ESOP Plan 2024** (covering **5,63,200 shares**) and continuous upskilling to prevent technology lag. * **Operational Concentration:** High reliance on the **core promoter group** and a few key global OEMs. * **Cybersecurity:** Proactive monitoring via the **ISO/IEC 27001:2022** certified SOC to prevent loss of client IP or digital assets. **Workforce Distribution (Total: 114):** * **ERP Implementation:** **47** * **Technical/Network/Security:** **33** * **Sales/BD:** **16** * **Support/Admin/Mgmt:** **18**