Vakrangee Announces Excellent Q3 FY2017-18 Results

Vakrangee Q3 FY2017-18

• Net Sales stood at Rs. 1,802.42 Crore, YoY growth of 84.13%

• PAT stood at Rs. 246.66 Crore, YoY growth of 87.50%

• Vakrangee Market cap at Rs. 50,000 crore

• BSE Code: 511431 & NSE Code: VAKRANGEE
  

Vakrangee is a unique technology driven company focused on building Indias largest network of last-mile retail outlets to deliver real-time Banking, Insurance, ATM, e-Governance, e-Commerce and Logistics services. The Company has crossed Rs. 50,000 crore in market capitalization.

Vakrangee Kendra outlet

Vakrangee Announced excellent Q3 FY2017-18 results with net sales witnessing a growth of 84.13% stood at Rs. 1,802.42 crore in Q3FY2017-18 as against Rs. 978.86 crore for the corresponding quarter last year, while PAT increase by 87.5 per cent to Rs. 246.66 crore. EPS (basic) for the face value of Rs. 1 stood at Rs. 2.33 in Q3FY2017-18 as against Rs. 1.25 in Q3FY2016-17.

The company is one of the main beneficiary of the governments financial inclusion drive. It runs around +44,200 Vakrangee Kendras across 17+ states. "We forecast that its store or "kendra" revenue and EBITDA will triple over FY 2017-20E, from a doubling of kendras to 75,461; Amazons activation of services in 58 per cent of its kendras; and an increase in mature stores to 75 per cent from 45 per cent" said Neerav Dalal, Analyst, MayBank Kim Eng Securities.

The company offers assisted e-commerce services offering strong platform for buying/collecting/delivering large variety of products; alliance with Netmeds Marketplace Limited to offer medicines and other health products; the Company has also alliance with RedBus for offering bus ticketing services and with Mahindra eMarket Limited, a subsidiary of M&M for promoting and booking automobile products using the last-mile distribution network of Vakrangee Kendra outlets.

The Company has alliance with Indian Railway Catering and Tourism Corporation Limited (IRCTC) for offering Railway E-Tickets booking through Vakrangee Kendras and has also alliance with IndusInd Bank Limited for Bharat Bill Payment System platform to deliver wide range of bill payment services from Vakrangee Kendra outlets.

The Company has alliance with Vasco Worldwide, an avant-garde travel service enterprise, to provide Travel Concierge & Visa support services and has also tie-up with DMI Finance Private Limited (DMI) to act as a Lead generator for offering its various loan products and collection of EMIs to citizens across Pan India.

The Company has corporate agency tie-up for Life, General and Health insurance with Life Insurance Corporation of India (LIC), HDFC Life Insurance Company Limited, Bajaj Allianz Life Insurance Company Limited and other Insurance Companies.

The Company has also alliance with FedEx Express, Aramex India Private Limited, Delhivery Private Limited and First Flight Couriers Limited for courier and logistics services (Forward Delivery as well as Reverse Pick Up services) using the last-mile distribution network of Vakrangee Kendra outlets.

Vakrangee moves towards its vision 2020 has strategic tie-up with Indian Oil Corporation Limited (IOCL), Indias largest commercial enterprise and Vakrangee Kendra shall be set up in about 20,000 plus IOC Retail Outlets (Filling/Gas Station) located PAN India.