Sattrix Information Security Limited (SISL), a leading cybersecurity solutions provider, has announced a significant new contract win, further solidifying its position in the financial services sector.

Contract Details

SISL has secured an order worth Rs 10.88 crore for the supply of license services to one of India's leading private sector banks. The contract, which is purely domestic in nature, involves providing licenses for a 12-month period. The payment terms stipulate that 100% of the amount will be paid within 30 days post-delivery of the licenses.

Strategic Importance

This contract win underscores SISL's growing presence in the banking sector, which faces increasingly complex cybersecurity challenges. By partnering with a leading private bank, Sattrix demonstrates its capability to meet the stringent security requirements of financial institutions.

Company Disclosure

In line with regulatory requirements, SISL has confirmed that there is no promoter group interest in the entity awarding the contract. Additionally, the company has clarified that this transaction does not fall under the category of related party transactions, ensuring transparency in its business dealings.

Market Position

This latest contract adds to Sattrix's growing portfolio of clients in the financial sector. The company's ability to secure high-value contracts from major banks highlights its strong market position and the trust it has built in delivering critical cybersecurity solutions.

Financial Impact

While specific financial projections were not disclosed, this Rs 10.88 crore order is expected to have a positive impact on SISL's revenue. The contract's value represents a significant boost to the company's order book.

Looking Ahead

As cyber threats continue to evolve, particularly in the financial sector, Sattrix Information Security Limited is well-positioned to capitalize on the growing demand for robust cybersecurity solutions. This contract win not only provides immediate financial benefits but also strengthens the company's credentials in the banking sector, potentially paving the way for similar high-value contracts in the future.

Investors and industry observers will likely keep a close watch on how Sattrix leverages this opportunity to further expand its presence in the financial services cybersecurity market.

Sattrix Information Security Limited , a leading cybersecurity solutions provider, has reported robust financial performance for the fiscal year 2024-25 and secured a significant new contract.

Financial Highlights

• Revenue Growth: Consolidated revenue from operations increased by 11% year-over-year to ₹4,463.17 lakhs in FY 2024-25, up from ₹4,037.09 lakhs in the previous year.

• Profit Surge: The company's consolidated profit after tax (PAT) more than doubled, reaching ₹404.61 lakhs, compared to ₹180.31 lakhs in FY 2023-24, marking a substantial 124% increase.

• Improved Profitability: Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) saw a significant jump of 111%, rising from ₹346.77 lakhs to ₹733.03 lakhs.

• Earnings Per Share: Basic and diluted EPS improved to ₹6.27, up from ₹3.61 in the previous year.

New Contract Win

Sattrix Information Security has secured a notable contract worth ₹13.65 crore for managed security services. The two-year domestic contract involves device management and operations for a leading payment gateway service provider in India. This agreement underscores the company's strong position in the cybersecurity market and its ability to attract high-profile clients in the financial technology sector.

Operational Highlights

• The company completed its initial public offering (IPO) in June 2024, listing on the BSE SME platform.
• Sattrix expanded its global footprint by establishing a joint venture in Malaysia and planning expansion into Spain.
• The company moved to a new 10,000 sq. ft. corporate office with a 40-seat Security Operations Center (SOC), enhancing its operational capabilities.
• New partnerships were formed with XM Cyber, Group-IB, and Tenable, broadening Sattrix's technology ecosystem.

Management Commentary

Sachhin Gajjaer, Managing Director of Sattrix Information Security, stated, "Our strong financial performance in FY 2024-25 reflects the growing demand for our cybersecurity solutions and our team's ability to deliver high-quality services. The new contract with a leading payment gateway provider further validates our expertise in the fintech security domain. We remain committed to innovation and expanding our global presence to capitalize on the increasing need for robust cybersecurity measures."

As Sattrix Information Security continues to strengthen its market position and expand its service offerings, the company appears well-positioned for sustained growth in the dynamic cybersecurity landscape.