Interview with InfoBeans Technologies Ltd
As a simple and long-term strategy, we strive to double ourselves every three years with a good mix of organic and inorganic growth, professes Mridul Maheshwari, Senior Manager, Corporate Development, InfoBeans Technologies Ltd.
How is InfoBeans Technologies uniquely positioned to leverage the industry tailwinds and deliver high organic growth?
We aim to consistently deliver an all-around experience that elicits a ‘WOW!’ in whatever we do. We believe that our focused offerings across Digital Transformation and Product Engineering; partnership with leading-edge cloud CRMs like Salesforce and ServiceNow, ability to land and expand into enterprise clients, and ability to build and retain a very strong engineering team would help us leverage the industry tailwinds and deliver high organic growth.
What are some of the biggest challenges you are currently facing?
The biggest challenge is not hidden and is faced across the industry by all the players i.e. team retention and talent acquisition. We are a people-first company and we continue to deploy different strategies like stock options, retention bonuses, people-friendly policies, deep engagement and career progression plans for the majority of the team.
We are also attempting unique and innovative ideas to attract talent like a 90-minute-offer-walk-in drive. Candidates can walk out of a walk-in drive with an offer in hand in 90 minutes straight. We have done two successful drives in March and April, rolling out 100 offers out of 400 walk-in candidates across our Indore and Pune offices.
Another unique and widely appreciated idea of showing our gratitude towards our top performers is undergoing as we speak. A select set of high performers find themselves on a large billboard on a busy road in the city. This simple act makes them a celebrity garnering attention and appreciation from friends and family. This is a precious moment in their life. They stay on the billboard for a week, this is running for the last 12 weeks and we plan to continue it in other cities too.
What are your acquisition plans for FY23?
We are actively looking out for opportunities that complement our strategy and service offerings. Post pandemic we see an increase in deal flows but the expectations of sellers have skyrocketed.
We are in no rush and remain focused on the right fitment and a fair price. We firmly believe that the real work starts after the deal is done, therefore we take our time to conduct due diligence with a view of the integration of the two businesses in mind.
We have the patience to wait for the right opportunity and are under no pressure to strike a deal for the sake of financial engineering.
What is your earnings outlook for FY23?
We don’t offer any revenue or earnings outlook. As a simple and long-term strategy, we strive to double ourselves every three years with a good mix of organic and inorganic growth.
Our anticipation is organic growth would be in the 15-20% range, whereas the remaining growth would accrue from inorganic means.
We like to protect our steady-state EBITDA margins to be around 24% and PAT margins to be around 15%. We are doing far better than that in the last two years, due to savings on account of a drop in travel and minimal office functioning due to the pandemic. With about 70% workforce back in the office, we see the margins will reverse to their steady-state levels.
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