**NSE Emerge: YUDIZ** Yudiz Solutions Limited is an Indian-listed technology services and consulting firm transitioning from a traditional IT service provider into an **IP-driven technology powerhouse**. The company specializes in high-growth sectors including **Artificial Intelligence (AI)**, **Blockchain**, **GameTech**, and **FinTech**. Originally incorporated in **2011**, the company listed on the **NSE Emerge Platform** on **August 17, 2023**, raising **₹44.84 crore** to fuel its next phase of digital evolution. --- ### Corporate Structure and Strategic Ownership Yudiz operates as a subsidiary of **Ability Games Limited**, which maintains a controlling **50.12%** equity stake. The company utilizes a mix of organic growth and strategic equity participation to scale its technical capabilities. | Entity | Relationship | Stake | Purpose/Status | | :--- | :--- | :--- | :--- | | **Ability Games Limited** | Holding Company | **50.12%** | Parent entity and strategic anchor. | | **Insightly Dataworks Pvt Ltd** | Wholly-Owned Subsidiary | **100%** | Acquired remaining **49%** in **Jan 2026** to bolster India market presence. | | **Yudiz Solutions (Dubai)** | Wholly-Owned Subsidiary | **100%** | Incorporated **Sept 2024** to spearhead **GCC region** expansion. | | **ABCM App Pvt Ltd** | Associate | **49.88%** | Reclassified from subsidiary in **Nov 2025** following equity dilution. | | **Trulot Technologies Pvt Ltd** | Strategic Investment | **5.00%** | Equity stake acquired in **March 2025**. | --- ### Pivot to Product-Led Growth: The AI Ecosystem The company is aggressively shifting toward a **product-first mindset**, focusing on generative AI solutions that simplify complex creative workflows for the fashion and e-commerce sectors. #### **Flagship Product: Adiz** **Adiz** is an AI-powered visual creation platform designed to eliminate the need for traditional physical photoshoots. * **AI Cloth Change:** Uses **Generative AI** to instantly apply new outfits to uploaded photos. * **Product-to-Model Mapping:** Converts static product images into professional visuals featuring human models. * **Scene Generation:** Produces automated studio-style or lifestyle backgrounds and diverse poses. * **Ad Creative Generation:** Delivers marketing-ready promotional images in seconds. **Adiz Performance Metrics (as of December 2025):** * **Total Downloads:** Over **100,000+** * **Availability:** **Android (Google Play)** and **iOS (App Store)** * **Target Verticals:** Fashion, E-commerce, and Digital Marketing. --- ### Strategic Diversification into Regulated FinTech In **March 2026**, Yudiz expanded its business objects to enter the regulated financial services space, seeking **RBI approval** to operate as a **Payment Aggregator**. **New Service Verticals:** * **Payment Gateway Services:** Enabling merchants to accept multi-instrument digital payments. * **Transaction Routing:** Technology-driven optimization for processing via multiple aggregators. * **Fund Transfer Services:** Facilitating business transfers via **NEFT, RTGS, IMPS, and UPI**. * **Blockchain Consulting:** Developing scalable **AI + Blockchain** use cases for **HealthTech** and **EduTech**. --- ### Financial Performance and Capital Allocation While the company faced a revenue decline in **FY 2024-25**, it demonstrated improved operational efficiency by significantly narrowing its standalone net losses. **Consolidated vs. Standalone Financial Summary (₹ in Lakhs):** | Particulars | Standalone FY25 | Standalone FY24 | Consolidated FY25 | | :--- | :--- | :--- | :--- | | **Revenue from Operations** | **2,095.36** | **2,615.59** | **2,100.72** | | **Other Income** | **302.06** | **180.25** | **303.53** | | **Total Revenue** | **2,397.42** | **2,795.83** | **2,404.25** | | **Profit / (Loss) After Tax** | **(56.06)** | **(287.36)** | **(171.56)** | **Geographical Revenue Distribution (₹ in Lakhs):** | Region | FY 2024-25 (Consolidated) | FY 2023-24 (Standalone) | | :--- | :--- | :--- | | **Outside India** | **1,434.07** | **1,756.43** | | **India** | **666.65** | **859.15** | #### **IPO Fund Reallocation** Due to shifting market conditions, the company altered its **₹44.84 crore** IPO fund utilization plan in **December 2025**. * **Unutilized Portion:** **₹29.25 crore** (currently held in fixed deposits). * **New Strategy:** Reallocated for strategic investments in emerging tech entities (**AI/ML, IoT, AR/VR**) through **December 2029**. * **Investment Limit:** Up to **₹50 crore** for inter-corporate loans, guarantees, or acquisitions. --- ### Risk Profile and Mitigation Strategies Investors should note several critical risk factors currently impacting the company’s operational landscape. #### **1. Capital and Regulatory Risks** * **Deployment Delays:** The **₹29.25 crore** in unutilized IPO funds has not been deployed according to the original schedule. Management has not yet proposed revised timelines to **SEBI/NSE**, leading to potential regulatory scrutiny. * **Banking Restrictions:** In **May 2024**, the company issued a legal notice to **HDFC Bank** regarding the freezing of an account containing IPO proceeds due to internal bank standards. #### **2. Operational and Market Risks** * **Technological Disruption:** The rapid rise of AI threatens traditional manpower-heavy IT models, requiring Yudiz to pivot quickly to its new product-led strategy. * **Gaming Regulation:** To mitigate Indian regulatory changes in **Real Money Gaming (RMG)**, the company is shifting focus toward **skill-based gaming** and international markets. * **Promoter Risk:** The Managing Director of the parent company, **Ability Games Limited**, was released on bail in **August 2025** following prior judicial custody under the **PMLA (2002)**. #### **3. Financial Exposure** * **Foreign Currency:** The company has a net USD exposure of **$6.25 Lakhs (₹456.54 Lakhs)**. While forward contracts are used, not all exposures are hedged. * **Deferred Tax Assets:** The company recognized **₹255.59 Lakhs** in deferred tax assets as of March 2025, based on projections of future profitability. * **Gratuity Liabilities:** Defined benefit plans are sensitive to **discount rate fluctuations** and potential regulatory changes to the **Payment of Gratuity Act** ceiling (currently **₹20,00,000**).