Netcore Cloud

Positions itself to help brands "turn every interaction into a personalized experience" and states it "empowers marketers to boost revenue, loyalty, and customer lifetime value" via an in-house AI engine across email, SMS, WhatsApp, push and in-app channels.

Provides services that aid in customer acquisition, engagement, and retention for its clients; product portfolio includes Mobility SMS Solutions, Email Marketing, and Marketing Automation Platforms.

Customer base of "more than 3,000 brands across segments such as banking, financial institutions, e-commerce, OTT platforms, tourism and travel, among others, including reputed brands such as Flipkart, Myntra, Big Basket, SBI Bank, Standard Chartered Bank, Pizza Hut, and Air Asia" as of FY24.

Company site states the platform is "Trusted by 6,500+ brands across 40 countries," naming customers including Domino's, Flipkart, Disney Hotstar, Swiggy, OYO, Forest Essentials and Hero MotoCorp.

"NCPL continues to benefit from its long-standing customer relationships with the existing clients, indicated by a history of repeat business from its key customers, providing revenue visibility."

Wholly-owned subsidiaries extend direct sales/delivery abroad: Netcore Solutions Sdn. Bhd. (Malaysia), Netcore Solutions Inc (US), Netcore Solutions UK Ltd, Netcore Cloud Pte. Ltd. (Singapore), Netcore Cloud GmbH (Germany), Netcore Solutions and Technologies Nigeria Ltd, and Netcore Cloud Canada Limited. NCPL provides services across 18 countries.

Established market position in the domestic market with ~81% of revenue driven from India, built on a reputed client base with a history of repeat orders.

"The company has been a leader in innovating email and automation products such as interactive email, ROI-based marketing spend evaluation tool, and others."

"NCPL has acquired allied software companies including Unbxd Inc., Boxx.ai, Hansel.io over the years to expand its product portfolio, and gain footing in emerging and developed markets."

Allocating resources for exploring new markets in Southeast Asia and Latin America, alongside an existing presence in the US and Europe.

"The company is promoted by Rajesh Jain, who has three decades of industry experience, benefitting the company's overall strategy and client offering."

In-house AI engine ("Raman") plus talent absorbed via acquisitions of AI-focused teams (Boxx.ai, Quinto.ai, Hansel.io, Unbxd) gives Netcore machine-learning-driven personalization and product-discovery capability.

Product/services portfolio includes Mobility SMS Solutions, Email Marketing, and Marketing Automation Platforms; ~81% of revenue driven from the domestic (India) market in FY24.

Acquired allied software companies including Unbxd Inc., Boxx.ai, Hansel.io over the years to expand its product portfolio and gain footing in emerging and developed markets, which contributed ₹80-100 crore to consolidated revenue in FY24.

PBILDT margin declined 515 bps YoY to 7.22% in FY24, "considering duplication of marketing and technological cost in Unbxd Software Private Limited (Unbxd) and NCPL and allocation of resources for exploring new markets."

Negligible external borrowings, except lease liabilities worth ₹25 crore as on March 31, 2024.