Analysis of Proxgy Share Price, Valuations, Funding & Revenue Growth
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Unlisted Shares

Proxgy Essentials

In this research report, you will get a complete analysis of Proxgy's Unlisted Shares

- Proxgy IPO Details
- Proxgy Upcoming IPO Details
- Expected Proxgy IPO Date
- Expected Price Band
- Management Details (Ownership)
- Business Model
- Key Ratios
- Peer Comparisons
- Complete financial reports (Profit and Loss Statements, Balance Sheets, Results, Growth, Valuations, Funding Rounds)
- Articles and Latest News Videos
- Upcoming and Past Events Details
- Rating and recommendations for the Company's shares (Whether to Buy/Sell/Hold)


- Proxgy Share Price (Latest update market shares to buy )

Face Value

₹ 10

Total Share

1,86,719

Total Income

₹ 35.78 undefined

Profit After Tax

₹ ****

P/E

****

Market Capitalisation

₹ 242.73 Cr

Enterprise Value

₹ ****

Sector

Information Technology

Sub-sector

Technology Hardware

Category

Start up Funding

Proxgy Growth

Compounded Sales Growth

1 Year

3 Year

5 Year

Return On Equity

2022

2024

2026

Highlights

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About

Everywhere as a Service Pvt Ltd (Proxgy) is a trailblazing deep-tech startup specializing in IoT and AI/MI-driven hardware solutions dedicated to enhancing the well-being of blue-collar workers. Through a fusion of state-of-the-art innovation and extensive research and development endeavours, the company has established an ecosystem that encompasses a stratified framework, including the Industrial IoT Layer, Software Middle Layer, and SaaS Subscription Layer.

Proxgy empowers blue-collar workers with two primary lines of smart devices:

  • IoT-based hardware:
    • Audio Cube: This multilingual payment alert system speaks your language, announcing transactions and integrating seamlessly with fintech platforms. Think of it as an ad-powered translator for your money.
    • Lockator: Secure your valuables from the container to the delivery truck. Lockator tracks location, monitors conditions, and protects cargo with real-time alerts and satellite backup.
  • AI/MI-based Wearables:
    • Smart Hat: This robust helmet goes beyond head protection. It monitors vitals, detects gas leaks, and provides 360-degree video communication, keeping you safe and connected in even the harshest environments.
    • Sleefe: Transform any cap into a smart safety hub. Sleefe adds emergency calls, camera and scanner access, and communication tools without weighing you down.

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Strength

  • First Mover Advantage: Gurugram-based start-up, which began with its service of human proxies, has received patent rights for almost 26 patent headgears across the United States, India, and Europe.
  • Order Book Value: Proxgy has an order worth ₹ 80 Cr. (primarily from Bank of Baroda worth ₹ 21.5 Cr, Bank of India worth ₹ 10.2 Cr, Innovative India worth ₹ 1.2 Cr, Millennials Insurance Brokers worth ₹ 0.9 Cr, and so on such as Adani Electricity, Bharat Pe, Free Charge, Google Pay, KhataBook, etc).
  • Traction: Proxgy has been seizing the market by mass-producing IoT-based products like Audiobox and Lockator. They have curated customized audio boxes for Airtel, Bharat Pay, and Bank of Baroda and are in the process of further customization.
  • Additionally, their AI/MI-based wearables, Smart Hat, and Sleefe, designed to enhance margins, are slated to concentrate on expanding POCs with prominent industry players. They have recently initiated a demo with the multiple subsidiaries of the Adani group and Vedanta group. The Proxgy’s product has moats such as Hitech, IoT enabled, Gas detection, SOS, Alarm enabled, and Bio monitor.
  • Production Capacity: Proxgy, the forefront of IoT hardware innovation, specializes in custom solutions that democratize IoT. With 1 dedicated R&D unit, it aims to meet the escalating demand by operating 4 manufacturing plants.
  • Market Strategy: With the RBI regulation, the fintech companies are banned from procuring services from Chinese players creating a supply-demand gap. As per RBI directive, banks and payment system providers have to ensure that all the payment data should be handled and stored solely in India. Hence, by encouraging local production, India seeks to reduce dependency on Chinese imports and provides Proxgy, an opportunity to seize a significant market share, witnessed by expanding order book value.
  • Market Penetration: Proxgy has been seizing the market from mass-producing IoT-based industrial devices like Audiobox and Lockator to AI/MI-based wearables, Smart Hat, and Sleefe. This move aims to establish a niche and replace Chinese products by emphasizing data security and cost efficiency, aligning with the 'Make in India' initiative. Proxgy’s upcoming products, "Air Hat" and "Birdbox," are poised to disrupt the future market for IoT-based hardware, making them potential game-changers in the industry.
  • Applauds: Proxgy has won “League of 10” at Emerge 50 Awards 2023, won the supernova challenge and a cash prize of $ 50,000 at GITEX Africa, the African continent's biggest tech and startup event, and also won the Entrepreneur of the Year award in the Security category from MSME India. The list is endless but can’t be completed without mentioning Pulkit Ahuja, the founder of Proxgy, who was felicitated with the 40 under 40 awards at Times Group. The company has been featured by all the prominent publications such as Your Story, Economic Times, and CRN and the list is endless. The company was featured in Season 1 of Shark Tank and secured funding from 2 prominent Sharks. Till now, Proxgy has raised cumulatively Rs. 26 Cr + in 5 rounds from notable investors like Planify Capital, Piyush Bansal, Suhail Sameer, Anchal Mittal, etc.

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Financial Projection

  • In FY24, the company has booked ₹ 5 Cr of top line in the first 8 months and is expected to close the books with ₹ 15 Cr worth of top line.
  • In FY25, the company anticipates achieving top line within a range of ₹60 Cr to ₹80 Cr with the ₹ 7 Cr - ₹ 8 Cr profitability.
  • Moving forward in FY26, the company expects to generate revenue between ₹180 Cr and ₹220 Cr, alongside an anticipated net profit ranging from ₹25 Cr to ₹35 Cr.

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Investment Thesis

  • Deep Expertise and Innovation: Proxgy has honed a niche skillset in designing, deploying, and managing complex IoT systems, culminating in specialized expertise. The company has already received 26 patents which makes it impossible to relicate the products and ultimately open great avenues for the company. They are now spearheading the development of next-generation wearable IoT devices infused with AI and ML capabilities.
  • Market Domination through Innovation: Proxgy has secured a strong domestic market presence by leveraging its mass production capabilities to deliver innovative and highly demanded products like Audiobox and Lockator. Their emphasis on data security and alignment with the "Make in India" initiative has established them as a viable alternative to Chinese imports, solidifying their market leadership.
  • Capitalizing on a Booming Market: The exponential growth of IoT, with an estimated installed base of 75.44 billion devices by 2025, presents a significant opportunity for Proxgy. Their strategic focus and signed ₹80.0 Cr book value in the first year of launch proves the company’s strength to capitalize on this burgeoning market, potentially becoming the dominant force in the domestic IoT landscape.
  • Projected Growth and Valuation: Considering a conservative approach, Proxgy is expected to achieve a turnover of approximately ₹400 Cr. by FY27, with a projected PAT margin of 18%. This translates to potential profits of around ₹72 Cr.
  • Considering the sector’s forward P/E of 30x, Proxgy's valuation could reach ₹2,160 Cr which would result in 10x growth in valuation within 4 years. Hence, today’s investment ₹1 Cr would result in a return of ~10 Cr in the next 4 years. This undervalued counter creates once in lifetime multi-bagger opportunity in the IoT-based next-gen tech sector creating potential for huge wealth creation for shareholders.

Traction

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0.36 Cr

20 %

Sales

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0.34 Cr

-42.37 %

Expenses

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0.02 Cr

-106.9 %

EBIT

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0.02 Cr

-106.9 %

PAT

Business Rating

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Managment

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Accounting Practice

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Profatibility

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Solvency

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Growth

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Valuation

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Overall Ratings

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Recommendation

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Our Team

Quantity

Invest

, Min. Investment: ₹