About the Company
(i) AGS Transact Technologies was founded by Mr. Ravi B. Goyal in 2002. Headquartered in Mumbai, AGS Transact Technologies has over 13,000 colleagues at 33 offices across 2200 cities and towns in India. The company services about 4,20,000+ touch points with its customised and unique offerings.
(ii) AGS is one of India’s leading providers of end-to-end cash and digital payment solutions including customized solutions serving the banking, retail, petroleum and transit sectors. AGS’s operations cover approximately 2,200 cities and towns, servicing approx. 2,90,000 machines or customer touch points across India, as of March 31, 2020.
(iii) AGS has two main subsidiaries – Securevalue India Limited (SVIL) engaged in the business of cash management services, and India Transact Services Limited (ITSL) engaged in the business of creating and dealing with electronic payment systems. In addition to SVIL and ITSL, AGS has also started expanding its operations to Southeast Asian and other countries by forming overseas step-down subsidiaries in Sri Lanka, Philippines and Cambodia through subsidiary in Singapore.
(iv) AGS Transact Technologies has introduced various path-breaking solutions, namely AGS QR Cash, India’s first UPI-QR based cash withdrawal/deposit feature on ATMs and ‘Fastlane’, India’s first fuelling app available across 120+ HPCL petrol pumps across Mumbai, Navi Mumbai, Thane & Pune. Additionally, Intelligent Cash Deposit (iCD) machine is AGS’ flagship product for cash-intensive sectors like Retail, which streamlines complex cash management processes.
(v) In 2019, AGS Transact Technologies Limited under the leadership of Mr. Ravi B. Goyal; its Chairman & MD, was recognized amongst Fortune India Next 500 companies. The company has also won several awards for its innovative products & solutions at well-known platforms like The Economic Times BFSI Awards, Code Studio 2019 and 7th Edition of Hurun Awards to name a few.
a) Manufacturing & Warehouse facility
Daman is spread on 47,044 square feet facility for assembling, staging & conducting testing of ATMs and other products; capable of manufacturing up to 1,500 ATMs every month; acts as a warehousing facility as well.
b) Testing & Repair Centre
Well-equipped premise – In-house Testing & Repair Centre at Navi Mumbai for faster turnaround time and support to all the business functions.
c) AGS House, Navi Mumbai
Independent structure spread across 8,000 square meters for housing the technical support, operational teams, monitoring centre, and software lab.
How AGS Transact Technologies earns revenue (Fig. in Crores)
A) Sale of traded goods
B) Sale of manufactured goods
C) Revenue From Services
Strengths of the Company
a) Strong market position in the ATM managed services industry with presence across the value chain
AGS is one of the leading providers of automated solutions and technology products for banking, retail, paints and petroleum sectors.
b) Good visibility on revenues owing to longstanding association with customer banks
AGS’s market position is underpinned by its established relationships with leading financial institutions, retail players as well as paint and petroleum majors. In the banking segment, the company has a diversified customer base of both private and public sector banks, viz; ICICI Bank Ltd, Axis Bank Limited, HDFC Bank Limited, State Bank of India, RBL Bank, and Bank of Baroda. Further, the company has been able to secure repeat orders from them given its positioning and currently has long term contracts (of about 8-10 years) with many of its customers in the banking segment. Currently, around 70-80% of AGS’s turnover is derived from these recurring orders from banks.
c) Increasing presence in digital payment solutions as well providing diversity to revenues
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. The contribution from the digital payment solutions has been increasing over the last 2 years (currently contributing around 10% of AGS’s revenues), improving the diversity of AGS’s overall revenue profile.
Recent Funding via NCD
Kotak Special Situations Fund Invests Rs 350 crore in AGS Transact Technologies Limited.
|Total Available Shares:||10000|
|Face Value:||₹ 10 Per Equity Share|
|Lot Size:||100 Shares|
|Current Unlisted Share Price:||₹ Best in Industry Per Equity Share|
|Loans & Advances||73.78||71.59||74.08|
|Revenue from Operations||1,481.32||1,805.74||1,800.44||10.25%|
|Employee Benefits Exp||233.34||274.88||280.08|
|Cost of Raw Materials||284.11||285.45||233.71|
|Purchase of Traded Goods||54.03||53.40||30.32|
|Change in Inventories||6.12||14.70||10.18|
|Depreciation & Amortisation Exp||112.90||130.20||244.67|
|Profit Before Tax||21.37||91.94||119.52|
|Profit After Tax||3.78||76.15||83.01||368.62%|
|Cash Flow from Operatons||195.56||347.69||446.03|
|Purchase of Fixed Assets||155.07||162.89||231.14|
|Free Cash Flow||40.49||184.80||214.89|
|Cash Flow from Investing||-161.33||-165.36||-290.66|
|Cash Flow from Financing||-30.71||-176.73||-171.76|