IT - Software · Founded 1983 · www.igenesys.com · BSE 506109 · NSE GENESYS INT. · ISIN INE727B01026
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Business
Genesys International Corporation Ltd. is a leading Indian company specializing in advanced geospatial solutions and digital mapping services. The company's core business involves capturing, processing, and delivering high-accuracy geospatial data and developing sophisticated Geographic Information System (GIS) solutions. It leverages technologies like LiDAR, aerial photogrammetry, and 3D mapping to create detailed digital representations of the physical world. Genesys makes money through project-based contracts for data acquisition, processing, and the implementation of customized GIS software solutions, as well as recurring revenue from data subscriptions and maintenance services for its various clients across government, public sector undertakings, utilities, infrastructure, e-commerce, and automotive industries.
Revenue Mix
While specific revenue percentages fluctuate and are not always granularly disclosed, Genesys's operations can generally be categorized into two primary areas:
Geospatial Data Acquisition & Processing: This segment involves the collection of high-definition imagery and data using various techniques (e.g., aerial photography, LiDAR, street-level mapping) and subsequent processing to create highly accurate maps, 3D models, and digital twins.
GIS Solutions, Software & Services: This segment focuses on developing and implementing enterprise-grade GIS software platforms, providing geospatial analytics, consulting, and maintenance services to help clients visualize, analyze, and manage location-based information for decision-making.
Industry
Genesys operates within the IT - Software sector, specifically in the niche but rapidly growing geospatial technology and digital mapping industry in India. This industry is characterized by increasing demand for location intelligence, driven by digital transformation, smart city initiatives, infrastructure development, and the emergence of autonomous technologies. Genesys is positioned as a pioneer and one of the largest Indian players in this specialized domain, with significant capabilities in high-accuracy data capture and processing. Its key differentiator often lies in its extensive proprietary data assets for India and its integrated approach from data acquisition to solution delivery, competing with specialized mapping companies and some larger IT service providers with GIS capabilities.
MOAT
Genesys benefits from several potential competitive advantages:
Proprietary Data & Expertise: The company has accumulated a vast and comprehensive library of high-resolution geospatial data for India, which is costly and time-consuming to replicate. Its deep domain expertise in data acquisition (e.g., LiDAR, photogrammetry) and processing acts as a significant barrier to entry.
Specialized Technology & Infrastructure: Investment in advanced equipment and technology for data capture and processing (e.g., airborne LiDAR, mobile mapping systems) provides a lead over generalist IT firms.
Client Relationships & Track Record: Long-standing relationships with government agencies and large enterprises, built on successful project delivery, contribute to repeat business and credibility.
Scale in Niche: Being one of the largest dedicated geospatial players in India allows for economies of scale in data collection and processing that smaller firms cannot match.
Growth Drivers
Government Initiatives: Programs like Smart Cities Mission, National Digital Twin of India, Gati Shakti, and various infrastructure development projects will drive significant demand for geospatial data and solutions.
Digital Transformation: Increasing adoption of location intelligence across various sectors (utilities, telecommunications, e-commerce, logistics) for operational efficiency and planning.
Autonomous Technologies: Growing demand for high-definition maps and 3D data from the automotive sector for autonomous vehicles.
5G Deployment & IoT: The rollout of 5G infrastructure and the proliferation of IoT devices will necessitate precise mapping and location data for network planning and asset management.
Urban Planning & Infrastructure: Continued growth in urban development, resource management, and infrastructure projects requiring detailed spatial data.
Risks
Technological Obsolescence: Rapid advancements in geospatial technology could render existing methods or data less competitive if the company fails to adapt.
Intense Competition: Competition from both domestic and international specialized mapping companies, as well as larger IT service providers diversifying into GIS.
Project Execution & Delays: Large-scale government or enterprise projects can face delays, scope changes, or payment issues, impacting revenue and profitability.
Dependence on Government Spending: A significant portion of its revenue may be linked to government projects, making it susceptible to changes in policy or budget allocations.
Data Security & Privacy: Handling vast amounts of sensitive geospatial data carries risks related to data breaches, regulatory compliance, and public privacy concerns.
Talent Acquisition: Scarcity of skilled professionals in specialized geospatial technologies can impact project delivery and growth.
Management & Ownership
Genesys International Corporation Ltd. is promoted by Mr. Sajid Malik, who has been instrumental in pioneering and leading the company's efforts in geospatial technology in India. The promoter group holds a significant stake in the company, which often indicates strong alignment with long-term shareholder interests. The management team includes professionals with experience in geospatial technology, IT services, and project management.
Outlook
Genesys International is well-positioned to capitalize on India's burgeoning demand for geospatial data and solutions, driven by aggressive infrastructure development and digital transformation initiatives across sectors. The company's established expertise, proprietary data assets, and long-standing client relationships provide a strong foundation for growth. However, the business operates in a dynamic technological environment with increasing competition, necessitating continuous investment in R&D and adaptability. Project-based revenue inherently carries execution risks, and dependence on government expenditure can introduce volatility. While the long-term tailwinds for geospatial technology in India are robust, the company's ability to innovate, manage large projects efficiently, and effectively scale its operations will be crucial in navigating a competitive landscape.
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| #(Fig in Cr.) | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 59 | 71 | 56 | 72 | 89 | 94 | 71 | 77 | 76 | 104 |
| Other Income | 3 | 0 | 1 | 1 | 2 | 0 | 1 | 4 | 11 | 3 |
| Total Income | 62 | 72 | 57 | 73 | 91 | 94 | 72 | 81 | 87 | 108 |
| Total Expenditure | 29 | 35 | 35 | 43 | 47 | 44 | 41 | 47 | 60 | 70 |
| Operating Profit | 33 | 37 | 22 | 30 | 44 | 50 | 31 | 34 | 27 | 38 |
| Interest | 1 | 1 | 1 | 2 | 3 | 3 | 3 | 3 | 3 | 3 |
| Depreciation | 11 | 11 | 12 | 12 | 16 | 15 | 15 | 16 | 17 | 17 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -5 | 0 |
| Profit Before Tax | 21 | 24 | 9 | 16 | 26 | 32 | 12 | 15 | 2 | 17 |
| Provision for Tax | 5 | 9 | 3 | 5 | 5 | 13 | 5 | 3 | 1 | 4 |
| Profit After Tax | 16 | 15 | 5 | 11 | 21 | 19 | 7 | 12 | 1 | 13 |
| Adjustments | 0 | 0 | 0 | 0 | -0 | -0 | 0 | -0 | 0 | -0 |
| Profit After Adjustments | 16 | 15 | 5 | 11 | 21 | 19 | 7 | 12 | 1 | 12 |
| Adjusted Earnings Per Share | 4.2 | 3.8 | 1.4 | 2.8 | 5.2 | 4.8 | 1.7 | 2.9 | 0.3 | 3 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 60 | 47 | 64 | 114 | 115 | 112 | 80 | 120 | 181 | 198 | 311 | 328 |
| Other Income | 3 | 6 | 3 | 4 | 3 | 4 | 1 | 3 | 7 | 5 | 4 | 19 |
| Total Income | 63 | 53 | 67 | 118 | 118 | 116 | 81 | 123 | 188 | 203 | 315 | 348 |
| Total Expenditure | 48 | 40 | 48 | 78 | 96 | 98 | 81 | 92 | 122 | 117 | 168 | 218 |
| Operating Profit | 15 | 13 | 19 | 40 | 22 | 17 | -0 | 31 | 65 | 86 | 147 | 130 |
| Interest | 2 | 2 | 2 | 2 | 3 | 3 | 4 | 3 | 3 | 5 | 10 | 12 |
| Depreciation | 8 | 7 | 13 | 14 | 19 | 21 | 19 | 19 | 37 | 44 | 55 | 65 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | -31 | -45 | 0 | 0 | 0 | -5 |
| Profit Before Tax | 5 | 5 | 5 | 24 | 0 | -7 | -54 | -36 | 25 | 37 | 83 | 46 |
| Provision for Tax | 1 | 0 | -2 | 6 | 4 | -2 | -3 | 4 | 10 | 16 | 27 | 13 |
| Profit After Tax | 5 | 4 | 6 | 17 | -4 | -5 | -52 | -40 | 15 | 22 | 56 | 33 |
| Adjustments | -0 | -2 | 9 | 10 | 9 | 7 | 9 | 53 | 4 | 0 | 0 | 0 |
| Profit After Adjustments | 4 | 2 | 16 | 27 | 6 | 2 | -43 | 13 | 19 | 22 | 56 | 32 |
| Adjusted Earnings Per Share | 1.4 | 0.7 | 5.1 | 8.8 | 1.8 | 0.5 | -13.7 | 4.3 | 5.1 | 5.6 | 14.1 | 7.9 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 57% | 37% | 23% | 18% |
| Operating Profit CAGR | 71% | 68% | 54% | 26% |
| PAT CAGR | 155% | 0% | 0% | 27% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -53% | 1% | 23% | 19% |
| ROE Average | 11% | 7% | -5% | -1% |
| ROCE Average | 15% | 11% | -2% | 1% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 208 | 210 | 167 | 225 | 224 | 213 | 173 | 205 | 405 | 489 | 556 |
| Minority's Interest | 0 | 0 | 97 | 95 | 92 | 93 | 82 | 31 | 2 | 2 | 2 |
| Borrowings | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 17 | 22 | 14 |
| Other Non-Current Liabilities | 1 | 0 | -18 | -20 | -19 | -13 | -13 | -15 | -11 | 3 | 18 |
| Total Current Liabilities | 32 | 46 | 57 | 67 | 76 | 44 | 37 | 81 | 69 | 109 | 203 |
| Total Liabilities | 241 | 258 | 304 | 368 | 374 | 339 | 279 | 303 | 482 | 625 | 792 |
| Fixed Assets | 21 | 22 | 179 | 217 | 208 | 203 | 194 | 138 | 157 | 156 | 128 |
| Other Non-Current Assets | 125 | 164 | 28 | 15 | 19 | 16 | 10 | 29 | 82 | 138 | 195 |
| Total Current Assets | 95 | 72 | 97 | 136 | 148 | 120 | 75 | 136 | 243 | 331 | 469 |
| Total Assets | 241 | 258 | 304 | 368 | 374 | 339 | 279 | 303 | 482 | 625 | 792 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 3 | 3 | 7 | 21 | 38 | 1 | 3 | 1 | 21 | 13 | 23 |
| Cash Flow from Operating Activities | 1 | 45 | -3 | 17 | -23 | 31 | 19 | 28 | -35 | 19 | -53 |
| Cash Flow from Investing Activities | -4 | -42 | 13 | -37 | -17 | -15 | -12 | -20 | -188 | -80 | -17 |
| Cash Flow from Financing Activities | 3 | -2 | 4 | 38 | 7 | -14 | -8 | 12 | 215 | 71 | 50 |
| Net Cash Inflow / Outflow | -0 | 1 | 14 | 17 | -34 | 2 | -1 | 20 | -9 | 11 | -19 |
| Closing Cash & Cash Equivalent | 3 | 4 | 21 | 38 | 4 | 3 | 1 | 21 | 13 | 23 | 3 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 1.43 | 0.73 | 5.11 | 8.84 | 1.81 | 0.5 | -13.75 | 4.28 | 5.05 | 5.58 | 14.13 |
| CEPS(Rs) | 4.22 | 3.73 | 6.24 | 10.09 | 4.83 | 5.13 | -10.58 | -6.56 | 13.81 | 16.72 | 27.92 |
| DPS(Rs) | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 62.69 | 68.86 | 54.02 | 71.43 | 70.31 | 68.17 | 55.5 | 64.14 | 101.52 | 122.24 | 138.05 |
| Core EBITDA Margin(%) | 21.11 | 15.76 | 25.15 | 31.82 | 16.53 | 11.98 | -1.94 | 23.07 | 32.38 | 40.95 | 46 |
| EBIT Margin(%) | 11.63 | 13.26 | 10.3 | 22.81 | 2.74 | -3.27 | -63.3 | -27.8 | 15.42 | 21.05 | 29.71 |
| Pre Tax Margin(%) | 8.53 | 9.78 | 7.13 | 20.67 | 0.32 | -5.93 | -68.43 | -29.98 | 13.8 | 18.75 | 26.58 |
| PAT Margin (%) | 7.59 | 9.17 | 10.03 | 14.96 | -3.25 | -4.55 | -65.09 | -33.17 | 8.24 | 10.9 | 18.04 |
| Cash Profit Margin (%) | 21.32 | 24.19 | 29.69 | 27.44 | 13.11 | 14.29 | -41.51 | -17.19 | 28.79 | 33.34 | 35.73 |
| ROA(%) | 2.26 | 1.73 | 2.3 | 5.06 | -1.01 | -1.43 | -16.77 | -13.63 | 3.8 | 3.9 | 7.92 |
| ROE(%) | 2.76 | 2.15 | 3.44 | 8.81 | -1.7 | -2.36 | -26.86 | -21.19 | 5.11 | 4.99 | 10.86 |
| ROCE(%) | 3.87 | 2.8 | 3.21 | 11.87 | 1.26 | -1.55 | -25.04 | -16.43 | 8.43 | 8.53 | 15.32 |
| Receivable days | 266.45 | 329.49 | 146.03 | 104.44 | 159.53 | 172.85 | 182.68 | 124.24 | 133.37 | 207.95 | 213.97 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PER(x) | 41.88 | 70.53 | 36.6 | 29.19 | 54.78 | 47.11 | 0 | 133.37 | 65.09 | 105.83 | 50.92 |
| Price/Book(x) | 0.95 | 0.75 | 3.46 | 3.61 | 1.41 | 0.35 | 1.84 | 8.89 | 3.24 | 4.83 | 5.21 |
| Dividend Yield(%) | 0.21 | 0.24 | 0.07 | 0.05 | 0.13 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 3.16 | 3.55 | 8.92 | 6.89 | 2.87 | 0.71 | 4.06 | 14.94 | 6.94 | 11.66 | 9.5 |
| EV/Core EBITDA(x) | 12.48 | 12.56 | 29.76 | 19.53 | 15.04 | 4.57 | -837.07 | 57.69 | 19.28 | 26.81 | 20.04 |
| Net Sales Growth(%) | -36.61 | -22.09 | 37.09 | 76.73 | 0.85 | -2.57 | -28.83 | 50.37 | 51.41 | 9.45 | 56.89 |
| EBIT Growth(%) | -84.51 | -11.11 | 6.41 | 292.65 | -87.89 | -216.28 | -1278.08 | 33.96 | 183.99 | 49.39 | 121.41 |
| PAT Growth(%) | -89.97 | -5.91 | 49.96 | 163.99 | -121.94 | -36.26 | -918.35 | 23.37 | 137.63 | 44.74 | 159.59 |
| EPS Growth(%) | -90.74 | -48.96 | 601.65 | 72.78 | -79.55 | -72.34 | -2850.33 | 131.1 | 18.17 | 10.47 | 153.04 |
| Debt/Equity(x) | 0.06 | 0.07 | 0.13 | 0.11 | 0.12 | 0.04 | 0.04 | 0.1 | 0.08 | 0.11 | 0.2 |
| Current Ratio(x) | 3.01 | 1.57 | 1.69 | 2.02 | 1.95 | 2.72 | 2.05 | 1.68 | 3.52 | 3.04 | 2.31 |
| Quick Ratio(x) | 3.01 | 1.57 | 1.69 | 2.02 | 1.95 | 2.72 | 2.05 | 1.68 | 3.52 | 3.04 | 2.31 |
| Interest Cover(x) | 3.76 | 3.81 | 3.25 | 10.64 | 1.13 | -1.23 | -12.34 | -12.75 | 9.51 | 9.16 | 9.5 |
| Total Debt/Mcap(x) | 0.06 | 0.09 | 0.04 | 0.03 | 0.08 | 0.13 | 0.02 | 0.01 | 0.03 | 0.02 | 0.04 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 39.62 | 37.91 | 37.86 | 37.34 | 33.15 | 33.08 | 31.63 | 31.56 | 31.52 | 31.5 |
| FII | 2.14 | 6.12 | 5.8 | 5.55 | 5.35 | 2.7 | 2.54 | 2.39 | 3.03 | 2.34 |
| DII | 2.59 | 2.53 | 2.49 | 2.62 | 3.35 | 3.09 | 3.82 | 3.77 | 4.27 | 2.63 |
| Public | 55.65 | 53.44 | 53.85 | 54.5 | 58.15 | 61.12 | 62.01 | 62.28 | 61.18 | 63.53 |
| Others | 0 | 0 | 0 | 0 | 0 | 0.01 | 0.01 | 0.01 | 0.01 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 1.5 | 1.5 | 1.5 | 1.48 | 1.32 | 1.32 | 1.32 | 1.32 | 1.32 | 1.32 |
| FII | 0.08 | 0.24 | 0.23 | 0.22 | 0.21 | 0.11 | 0.11 | 0.1 | 0.13 | 0.1 |
| DII | 0.1 | 0.1 | 0.1 | 0.1 | 0.13 | 0.12 | 0.16 | 0.16 | 0.18 | 0.11 |
| Public | 2.11 | 2.11 | 2.13 | 2.16 | 2.31 | 2.43 | 2.58 | 2.6 | 2.56 | 2.65 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 3.78 | 3.95 | 3.96 | 3.96 | 3.97 | 3.98 | 4.16 | 4.17 | 4.18 | 4.18 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +57% | +37% | +23% | +18% |
| Operating Profit CAGR | +71% | +68% | +54% | +26% |
| PAT CAGR | +155% | — | — | +27% |
| Share Price CAGR | -53% | +1% | +23% | +19% |
| ROE Average | +11% | +7% | -5% | -1% |
| ROCE Average | +15% | +11% | -2% | +1% |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 39.62 | 37.91 | 37.86 | 37.34 | 33.15 | 33.08 | 31.63 | 31.56 | 31.52 | 31.5 |
| FII | 2.14 | 6.12 | 5.8 | 5.55 | 5.35 | 2.7 | 2.54 | 2.39 | 3.03 | 2.34 |
| DII | 2.59 | 2.53 | 2.49 | 2.62 | 3.35 | 3.09 | 3.82 | 3.77 | 4.27 | 2.63 |
| Public | 60.38 | 62.09 | 62.14 | 62.66 | 66.85 | 66.92 | 68.36 | 68.44 | 68.48 | 68.5 |
| Others | 0 | 0 | 0 | 0 | 0 | 0.01 | 0.01 | 0.01 | 0.01 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 1.5 | 1.5 | 1.5 | 1.48 | 1.32 | 1.32 | 1.32 | 1.32 | 1.32 | 1.32 |
| FII | 0.08 | 0.24 | 0.23 | 0.22 | 0.21 | 0.11 | 0.11 | 0.1 | 0.13 | 0.1 |
| DII | 0.1 | 0.1 | 0.1 | 0.1 | 0.13 | 0.12 | 0.16 | 0.16 | 0.18 | 0.11 |
| Public | 2.28 | 2.45 | 2.46 | 2.48 | 2.66 | 2.66 | 2.85 | 2.86 | 2.86 | 2.86 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 3.78 | 3.95 | 3.96 | 3.96 | 3.97 | 3.98 | 4.16 | 4.17 | 4.18 | 4.18 |
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