RATING

RECOMMENDATION

Buy

  • ROFR Required
  • Available in Depository:

  • NSDL

  • CDSL

  • Available for Investment:

  • Primary

  • Secondary

RATING

RECOMMENDATION

Buy

Business Type

Dominant Leader

RATING

RECOMMENDATION

Buy

Business Type

Dominant Leader

Discover and get a complete analysis on AGS Transact Pre IPO - Management, Business Model, Financials, Growth, Valuations, Funding Rounds, News and get latest updates on AGS Transact Financial Statements.

ISIN

INE583L01014

Face Value

₹10.00

Total Share

11,85,80,576

Total Income

₹1,797.15 Cr

Profit After Tax

₹54.79 Cr

EPS

₹4.62

P/E

16.15

P/B

1.67

Market Capitalisation

₹884.61 Cr

Enterprise Value

₹1,812.74 Cr

Book Value

₹44.59

Intrinsic Value

₹154.94

Dividend Yield

1.34 %

Earnings Yield

6.19 %

Sector

Technology

Sub-sector

Technology Hardware

Category

Listed

Cashflow - Operations

₹416.00 Cr

Cashflow - Financing

₹320.49 Cr

AGS Transact Growth

Compounded Sales Growth

  • -2.30%

    1 Year

  • 5.89%

    3 Year

  • 7.13%

    4 Year

Pro Only

Compounded Profit Growth

  • -34.00%

    1 Year

  • 143.78%

    3 Year

  • NA

    4 Year

Pro Only

Return On Equity

  • 10.36%

    2021

  • 17.17%

    2019

  • 0.95%

    2018

Pro Only

About AGS Transact

  • AGS Transact Technologies Limited (AGSTTL), together with its subsidiaries, provides cash and digital payment solutions, and automation technology products for the banking, retail, toll and transit, cash management, and fintech sectors in India and internationally.
  • AGSTTL offers offers payment solutions, such as automated teller machine (ATM) outsourcing and managed, cash management, transaction switching and digital payment, merchant, automatic vehicle fueling, agency banking, and electronic payment services, as well as intelligent cash deposit machines.
  • It also provides ATM machines, voice recognition and video teller machines, cash recyclers, and banking transaction terminals; currency technology solutions and note sorters; and other banking services that include annual maintenance, hardware and software upgrade, and spare parts for the repair of ATMs and other automated banking hardware products.
  • AGS Transact Technologies was founded by Mr. Ravi B. Goyal in 2002. The company services more than 4 lakh touch points.
  • In 2019, AGS Transact Technologies Limited, was recognized amongst Fortune India Next 500 companies. 

  • AGS Transact IPO Details

AGS Transact Technologies Limited has filed its DRHP on 18th August 2021. According to the DRHP the company is looking to raise INR 680 Cr from offer for sale of shares by their promoter. The company has set a price band of ₹166 - ₹175 per share. 


Open Date

19 Jan 2022 at

Closed Date

21 Jan 2022 at

Listing Date

31 Jan 2022 at

AGS Transact
Offer for Sale

₹ 680.00 Cr

AGS Transact
Total IPO Size

₹ 680.00 Cr

AGS Transact
Price Brand

₹ 166 - ₹ 175

AGS Transact
Grey Market Premium

₹ 3 - ₹ 5

AGS Transact Retail Subscription Status

3.08x

AGS Transact QIB Subscription Status

2.68x

AGS Transact Non-Institutional Subscription Status

25.61x

  • AGS Transact Funding

Funded By Funding Amount Funding Round Fund Name
Kotak Special Situations Fund ₹ 350 Cr 1 Private Equity Round
  • AGS Transact Subsidiaries

  • India Transact Services Limited
  • Securevalue India Limited
  • Global Transact Services Pte. Ltd.
  • Novus Technologies Pte. Ltd.
  • Novus Technologies (Cambodia) Company Limited
  • Novus Transact Philippines Corporation
  • Novustech Transact Lanka (Private) Limited
  • AGS Community Foundation

AGS Transact Business Model

  • India Transact Services Limited(ITSL) is engaged in the business of, inter-alia, creating and dealing with electronic payment systems in India or abroad. 
  • Securevalue India Limited(SVIL) is engaged in the business of, inter-alia, providing cash management services, including cash in transit, cash in vault, note sorting and processing and cash pick-up services. 
  • Global Transact Services Pte. Ltd(GTSL) is an investment holding company and is not engaged in any business activity.
  • Novus Technologies Pte. Ltd.(Novus SGP) is engaged in the business of, inter-alia, designing and supplying computer software solutions to corporate customers.
  • Novus Cambodia is engaged in the business of inter-alia, providing services in relation to building, installing, supplying, managing, maintaining and repairing ATM and POS machines and sites as authorized under the objects clause of its memorandum of association.
  • Novus Philippines is engaged in the business of, inter-alia, sourcing, building, deploying and maintaining ATMs and cash dispensers and sites and provision of POS solutions.
  • Novus Lanka is engaged in the business of inter-alia, supplying, building, deploying, maintaining and providing outsourced managed services pertaining to ATMs, POS Machines, Cash Dispensers and IT hardware.
  • AGS Community Foundation is engaged in, inter-alia, promoting healthcare, education, gender equality, environmental sustainability, etc.
  • AGS Transact Revenue Segmentation

  • Payment Solutions
  • Banking Automation Solutions
  • Asian countries
  • Others
  • AGS Transact Product & Services

  • Payment Solutions 
  • Banking Automation Solutions
  • Automation solutions for Retail, Petroleum and Color sectors.

  • AGS Transact Assets

Manufacturing and Warehouse facility: 

  • The company has a 47000+ square feet facility for production staging and testing of their ATMs and other products. This facility has the capactity to produce about 1500 ATMs per month.


AGS House, Navi Mumbai:

  • The company has a separate structure for housing their technical support, operation teams, monitoring centre and software lab which has an area of about 8000 square meters.
  • AGS Transact Industry Overview

Industry Statistics

Introduction: 

  • An automated teller machine (ATM) is an electronic banking machine that enables consumers to perform basic transactions using credit or debit cards. It is a specialized computer that manages money and performs functions such as cash withdrawal, cash deposit and fund transfer.
  • Digital payment services are the entities that provide transactions via digital or online modes, with no physical exchange of money involved. This means that both parties, the payer and the payee, use electronic mediums to exchange money.
  • In India, the number of ATMs (excluding white label ATMs) installed increased from 199,099 as of March 31, 2016, to 213,575 as of March 31, 2021. The number of ATMs (including white label ATMs) operating in India’s ATMs market increased from 212,061 as of March 31, 2016, to 238,588 as of March 31, 2021, at a CAGR of 2.39%.
  • There has been a considerable growth in the branch-less channels of banking, which has further explored into digital payments in both rural and urban regions in Indian payment industry. Digital payments industry is expected to reach $700 billion in India by 2022 in terms of value of transactions.
  • Trends in industry: The ATM industry in India, in terms of number of ATM transactions and revenues for MSP, was negatively influenced by the COVID-19 pandemic. The ATM managed services market declined by approximately 7% from financial year 2020 to financial year 2021 in terms of revenues. The number of ATMs in India has been increasing, due to the ease in setting up ATMs under the managed services and brown-label management models. The number of ATMs being managed by banks has been continually decreasing due to the advantages offered by other ATM management models.
  • The Covid-19 pandemic has fast-tracked digital transformation of the payments ecosystem in India. The pandemic has fueled the proliferation of digital modes of payment, propelling the country towards ‘less-cash’ alternatives. This will benefit the digital payment solution providers as people have considerably increased their usage of digital payment modes.


Market size: 

  • The global ATM industry market size has increased to $18 billion at a CAGR of 7.7 percent and is anticipated to reach $ 30 billion by 2025 at a CAGR of 7.9 percent. 
  • APAC is the fastest growing market in the ATM services industry with an annual growth rate of 10.6 percent until 2020.
  • Between 2012 and 2020, ATMs in India grew at an average annual rate of 10%.

Future Prospects

  • India ATM Managed Services market is expected to register positive CAGR of around 6.7% during the period FY’2018-FY’2023 in terms of revenue. ATM repair and maintenance along with cash management services will expect to have positive impact on overall revenue generation for the India ATM Managed Services market.
  • Indian digital payments industry is expected to reach $700 billion by 2022 in terms of value of transactions. It is expected that more than 80% of the urban population in India will adopt digital payments as a part of their routine by 2022, and 70% of the retail chains will adopt the same.

Government Initiatives

  • The Digital India programme is a flagship programme of Government of India with a vision to transform India into a digitally empowered society and a digital economy. Under this programme, Government targets to promote digital payments and support development of low cost and easy to use digital payment solutions for all sections of the society.
  • Administration is coordinating with banks, NGOs, government officials and public representatives to spread awareness about digital payments by organising different programs, camps, rallies, gram sabhas, Digi Melas, Garib Kalyan Melas, Nukkad Natak, bike rallies, digital marathon etc.
  • Digital literacy centres are opening and Digi Dhan Melas are being organized at State and District level to educate people about digital payments.
  • Incentive schemes like install BHIM and get 50 is used to promote digital payments. Fair price shops and fertiliser shops are offering discounts to customers on digital payments. Local festivals are used to promote digital payments by setting up demo stalls where knowledge about digital payment modes are provided.
  • Administration is providing free Wi-Fi services at prime locations, tourist spots and market areas to promote digital payments. Internet is provided at panchayats through Baratnet so that promoting digital payments in rural areas will not be a challenge.
  • The Digital India initiative of the government has got a boost with the Reserve Bank of India announcing measures to secure digital payment channels via the proposed Digital Payment Security Controls Directions to make India a less cash society in a safer way.
  • To give a further boost to digital transactions, INR 1,500 Cr. was allocated for a proposed scheme that will provide financial incentive to promote digital mode of payment by the finance minister while presenting the Budget for 2021-22

AGS Transact Awards & Achievements

AGS Transact Technologies became a Fortune India Next 500 Company; ranked 111 by revenue under Top Midsize Companies in 2019.

AGS Transact Technologies was awarded ‘India’s Greatest Brands 2018-2019’ by AsiaOne Magazine.

AGS Transact Technologies has won the award for its QR-Cash Solution under Technology - Category at 2nd edition BFSI InnoTribe Summit & Awards.

AGS Transact Technologies bagged the National Enterprise Leadership Award 2021 in the category Best Use of Technology (Financial Services) for its solution AGS QR Cash.

AGS Transact Technologies was recognized as The Economic Times 'Iconic Brands of India 2021'


AGS Transact Strengths

Strengths:

  • AGS have a strong market position in the ATM managed services industry and have long term contracts (of about 8 – 10 years) with both private and public sector banks.
  • AGS’s market position is underpinned by its established relationships with leading financial institutions, retail players as well as paint and petroleum majors. 
  • To capture the growing demand in digital payments space and improve the mix between cash and digital payments, the company has recently diversified into digital payments solutions (through fully owned subsidiary, ITSL) providing services like switching software, merchant solutions (POS machines), and other electronic payment solutions. 

AGS Transact Shortcomings

  • The company is deriving most of its revenues from customers belonging to the banking sectors in India, hence it is dependent on this particular sector to perform well in order to earn profits. This lack of diversification may harm the company in the long run. 
  • Company have moderate liquidity and can improve it.

AGS Transact Opportunities

  • India continues to be among the countries with the lowest penetration of ATMs. While India has 650,000 villages, there is one ATM for 10 villages. AGS can target the rural area and increase its penetration in rural areas.

AGS Transact Threats

  • Due to COVID many people are moving to cashless transaction and this may be a major treat for company.
  • Increase in other contactless transactions like UPI, for which a number of competitors have entered the market, can be a threat for the company

AGS Transact Rating

  • RECOMMENDATION

    Buy

  • AGS Transact Detail Info

Industry Statistics

PUBLIC LIMITED

Registered In

India

Registered Date

12/11/2002

Planify Ticker

Ags

Reg Office: 601-602, B-Wing, Trade World Kamala City, Senapati Bapat Marg, Lower Parel (West) Mumbai, 400 013

Visit Website

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