RELIABLE - Reliable Data

📊 NSE: RELIABLE 🏢 Computers - Software - Medium / Small 📅 Last Updated: 12/14/2025 11:47

💰 Financial Performance

Revenue Growth by Segment

Revenue from operations, primarily back-office services, grew by 52.75% YoY, increasing from INR 5,226.09 Lakhs in FY24 to INR 7,982.95 Lakhs in FY25.

Geographic Revenue Split

Not specifically disclosed, though the company is headquartered in New Delhi and operates within the Indian regulatory framework.

Profitability Margins

Net Profit Margin improved from 6.26% in FY24 to 9.12% in FY25. Profit After Tax (PAT) surged by 122.5% YoY to INR 728.13 Lakhs from INR 327.28 Lakhs.

EBITDA Margin

EBITDA margin is approximately 18.77% in FY25 (calculated from PBT of INR 905.31 Lakhs, Finance Costs of INR 313.85 Lakhs, and Depreciation of INR 279.45 Lakhs), compared to 15.58% in FY24.

Capital Expenditure

Historical depreciation and amortization increased by 22.0% to INR 279.45 Lakhs in FY25, indicating continued investment in service infrastructure; specific planned CAPEX is not disclosed.

Credit Rating & Borrowing

The company has sanctioned working capital limits exceeding INR 5 Crores from banks secured against current assets. Long-term borrowings increased by 39.2% YoY to INR 1,188.85 Lakhs.

⚙️ Operational Drivers

Raw Materials

As a service-based company, the primary operational inputs are Employee Benefits (11.6% of revenue) and Other Expenses (75.2% of revenue).

Import Sources

Not applicable as the company is a service provider rendering back-office services.

Capacity Expansion

Not disclosed in terms of physical units; however, the 52.75% revenue growth suggests a significant expansion in service delivery capacity.

Raw Material Costs

Employee benefit expenses decreased by 23.4% YoY to INR 928.64 Lakhs, while Other Expenses increased by 87.8% YoY to INR 6,007.47 Lakhs, reflecting a shift in operational cost structure.

Manufacturing Efficiency

Not applicable; the company does not hold physical inventories and operates as a service entity.

Logistics & Distribution

Not disclosed; distribution is likely digital or service-based rather than physical logistics.

📈 Strategic Growth

Expected Growth Rate

52.75%

Growth Strategy

Growth is driven by scaling back-office service operations and leveraging a 52.75% increase in operational revenue. The strategy involves managing a shift from direct employee costs (down 23.4%) to broader operational expenses (up 87.8%) and utilizing capital gains (INR 450.34 Lakhs) to strengthen the balance sheet.

Products & Services

Back-office services, data management, and financial reporting support services.

Brand Portfolio

Reliable Data Services Limited.

New Products/Services

Not specifically disclosed, though the company is maintaining its core focus on back-office service rendering.

Market Expansion

The company is expanding its service footprint as evidenced by the 52.75% revenue jump, though specific target regions are not listed.

🌍 External Factors

Industry Trends

The industry is shifting toward mandatory audit trails and enhanced internal financial controls, which the company has adopted for the financial year ended March 31, 2025.

Competitive Landscape

The company operates in the competitive back-office and data services sector, focusing on compliance and reliable financial reporting.

Competitive Moat

The moat is based on robust internal financial controls and an unmodified audit opinion, which are critical for maintaining trust in back-office financial data services.

Macro Economic Sensitivity

Sensitive to the general outsourcing environment and corporate demand for back-office efficiency in India.

Consumer Behavior

Increased corporate reliance on outsourced back-office functions to reduce internal overhead and improve data accuracy.

Geopolitical Risks

Not disclosed as a material factor in the current standalone reporting.

⚖️ Regulatory & Governance

Industry Regulations

Compliance with Section 133 and 134(5) of the Companies Act, 2013, and Rule 3(1) regarding audit trail maintenance in accounting software.

Environmental Compliance

Not disclosed; service-based operations have low environmental impact compared to manufacturing.

Taxation Policy Impact

The company provided INR 131.82 Lakhs for current tax in FY25, representing an effective tax rate of approximately 14.5% on PBT.

Legal Contingencies

The company has no pending litigations as per Note 28, resulting in a contingent liability value of INR 0.

⚠️ Risk Analysis

Key Uncertainties

Potential for material misstatements due to error or fraud if internal controls are overridden, and risks associated with the 57.8% increase in finance costs.