SecMark Consultancy Limited is a specialized, technology-driven professional services firm providing integrated solutions to the Indian financial services industry. Operating as a "one-stop shop," the company delivers a trifecta of **Consulting, Technology, and Outsourcing** solutions. With a client base exceeding **400 financial market participants**, SecMark has transitioned from an investment-heavy growth phase into a profitable, high-growth entity listed on the **Main Boards of both the NSE and BSE**. --- ### **Strategic Market Position & Service Ecosystem** SecMark operates a single primary business segment, **Software Consultancy Services**, leveraging a multidisciplinary team of **Chartered Accountants, CISAs, Engineers, and Advocates**. The company’s value proposition lies in its ability to handle the entire lifecycle of a financial intermediary—from initial setup to ongoing regulatory compliance and core technological operations. #### **Core Service Pillars** * **Consulting & Auditing:** Specialized advisory for setting up financial services businesses in India, including **RERA compliance**, Insurance sector regulations, and Capital Market norms. Audit services include **System Audits, Cyber Security, and Forensic Audits**. * **Technology:** Development and licensing of proprietary platforms for client onboarding, transaction monitoring, and back-office management. * **Outsourcing:** Managing critical operational processes, risk management, and back-office functions, allowing clients to focus on core trading and advisory activities. --- ### **Proprietary Technology Stack & Product Portfolio** The company has aggressively expanded its Intellectual Property (IP) through a mix of in-house development and strategic acquisitions. It is currently working toward filling the final gap in its suite: **Trading and Risk Management Software**. | Product Category | Brand / Platform | Description | | :--- | :--- | :--- | | **Back Office** | **i-Beats / BusyWin** | Flagship solutions for stock and commodity brokers; **i-Beats** was recently migrated to **.net 4.8** for enhanced performance. | | **RegTech** | **Compliance Sutra** | A cloud-based platform for managing regulatory activities; seeing high adoption among leading market participants. | | **AML/PMLA** | **AML Sutra** | Anti-Money Laundering software for screening and transaction monitoring; recently revamped to reduce long-term support costs. | | **Onboarding** | **smartkyc.in** | A digital E-KYC platform for online client registration and onboarding. | | **Education** | **E-Learning** | Specialized products utilized by the National Center for Financial Education. | --- ### **Strategic Acquisitions & Asset Integration** SecMark’s growth is underpinned by a disciplined acquisition strategy designed to onboard both technology and established client bases. * **Codifi Finserv (Dec 2025):** Acquired trading web/mobile platforms and middleware to expand into front-end trading technology. * **Comtek Software Systems LLP (Mar 2024):** Acquired the **BusyWin** suite (Backoffice, CDSL, PFA, Sign, SMS) for **Rs. 50 Lakhs**, adding significant arbitrage and sub-broker software capabilities. * **Comtek Bizsoft Pvt. Ltd. (Mar 2023):** Acquired the **iBeats** product suite for **Rs. 6.20 Crores**, which added over **70** financial market participants to the client roster. * **Integration Model:** To ensure seamless knowledge transfer, the company enters into long-term consultancy agreements with the founders of acquired entities (e.g., a **3-year** term with Comtek directors with a marketing commission cap of **Rs. 15 Crores**). --- ### **Financial Performance & Turnaround Metrics** After a period of accounting losses driven by high acquisition costs and technology transfer fees, SecMark achieved a significant financial turnaround in **FY 2024-25**. #### **Key Financial Indicators** | Metric (₹ in Crore) | FY 2024-25 | FY 2023-24 | FY 2022-23 | | :--- | :---: | :---: | :---: | | **Operating Revenue** | **35.96** | **25.29** | **18.27** | | **Net Profit / (Loss)** | **4.25** | **(2.36)** | **(5.26)** | | **Revenue Growth (YoY)** | **42.2%** | **38.0%** | **20.4%** | | **Net Debt** | **6.55** | **11.05** | - | | **Capital Gearing Ratio** | **31.91%** | **89.42%** | - | #### **Financial Notes & Capital Allocation** * **Profitability Drivers:** The **282% growth** in bottom-line performance in FY25 reflects the stabilization of acquired assets and the conclusion of heavy one-time consultancy payouts (which totaled **₹8.12 Cr** in FY23 and **₹5.36 Cr** in FY24). * **Depreciation:** Software acquisition led to an increased amortization charge of **₹3.80 Crores** in FY24, up from **₹2.11 Crores**. * **Debt Management:** Net debt was reduced by **40%** year-on-year, significantly improving the company's solvency profile. * **Dividend Policy:** Management maintains a **conservative dividend policy**, prioritizing resource retention for technology integration and future acquisitions. --- ### **Corporate Structure & Governance** * **Listing Status:** Migrated from the BSE SME platform to the **Main Board of NSE and BSE** on **October 16, 2023**. * **Subsidiaries:** Operates through two wholly-owned subsidiaries: **Sutra Software Services Private Limited** and **Markets on Cloud Private Limited**. * **Divestments:** Successfully exited associate company **Trakiot Solutions Private Limited** in **June 2025** for **Rs. 25.10 Lakhs**. * **Human Capital:** Employs an **ESOP 2019** scheme with an option pool of **12,50,000 shares** to retain top talent. **Mr. Sagar Mansukhbhai Thanki** serves as Executive Director through **August 31, 2027**. --- ### **Risk Profile & Mitigation Framework** The company manages risks through a dedicated **Risk Management Committee** that reviews policies every two years, covering ESG, sectoral, and information security concerns. * **Cybersecurity:** As a holder of sensitive financial data, the company faces risks of data breaches. Mitigation includes continuous investment in secure cloud-based infrastructure. * **Technological Obsolescence:** The rapid pace of FinTech requires constant R&D. SecMark mitigates this by acquiring modern stacks (e.g., Codifi) and upgrading legacy systems to **.net 4.8**. * **Regulatory Shifts:** While India’s new **four labour codes** (effective **Nov 2025**) currently have a non-material impact, the company monitors pending state rules closely. * **Concentration Risk:** While focused on financial services, the company has diversified across **Stock Brokers, NBFCs, Banks, Insurance, and Wealth Managers** to reduce reliance on any single sub-sector.