Dolat Capital: Intellect Design Arena - Initiate Coverage With A ‘Buy’ Rating

Dolat Capital: Intellect Design Arena - Initiate Coverage With A ‘Buy’ Rating

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Dolat Capital Report

Intellect Design Arena Ltd. is one of the fastest growing banking software company in the world with wide IP offering across spectrum of banking financial services and insurance sub segments.

Powered with significant investments in research and development (over Rs 10 billion since demerger in FY14) and sales and marketing (Rs 17 billion) the company has created strong presence, reach and brand appeal for its product offerings across markets and same is evident form several marquee clients wins, improved deal size and high ratings across industry expert rankings.

The Company has reported robust industry leading 14% compound annual growth rate in dollar revenues over FY14-20, however the same has not percolated into profitability/ cashflow given company’s all in strategy (multi-market, multi-region) that has resulted in large front-loading of investments.

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Dolat Capital Intellect Design Initiating Coverage.pdf
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