SECURKLOUD - SecureKloud Tech

📊 NSE: SECURKLOUD 🏢 Computers - Software - Medium / Small 📅 Last Updated: 12/14/2025 12:58

💰 Financial Performance

Revenue Growth by Segment

Revenue growth is not explicitly segmented by business line in the provided documents, but the Group reduced its consolidated net loss by 52.2% YoY, from INR 9,582.36 lakhs in FY24 to INR 4,583.18 lakhs in FY25.

Geographic Revenue Split

The Group has a high geographic concentration in the USA, with new operations recently established in Singapore. Specific percentage splits per region are not disclosed in the available documents.

Profitability Margins

The Group reported a consolidated net loss of INR 4,583.18 lakhs for FY25. Profitability is under pressure due to high competition and wage inflation, though cash losses improved by 17.2% YoY from INR 4,536 lakhs to INR 3,754 lakhs.

EBITDA Margin

The current EBITDA margin is not explicitly stated, but CARE Ratings identifies a PBILDT margin above 15% as a positive rating sensitivity factor for future improvement.

Capital Expenditure

Capital expenditure on Property, Plant, and Equipment was INR 23.56 lakhs in FY24, with no significant new capex reported for FY25 in the cash flow statement.

Credit Rating & Borrowing

The Group faces credit challenges, with CARE Ratings noting delays in debt servicing for term loans. Finance costs for FY25 were INR 1,614.56 lakhs on total borrowings of INR 10,443 lakhs, implying an effective interest rate of approximately 15.46%.

⚙️ Operational Drivers

Raw Materials

As an IT services firm, the primary 'raw materials' are Human Capital (Software Engineers/Cloud Architects) and Cloud Infrastructure (AWS/Azure/GCP instances), which constitute the bulk of service delivery costs.

Import Sources

Talent is primarily sourced from India and the USA. Cloud infrastructure is sourced globally from major US-based public cloud providers.

Key Suppliers

Key infrastructure suppliers include Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP).

Capacity Expansion

Not applicable in traditional manufacturing terms; however, the Group is expanding its service delivery capacity through the acquisition of the cloud business of SecureKloud Technologies Inc by Healthcare Triangle Inc to achieve delivery synergies.

Raw Material Costs

Employee-related costs and cloud subscription fees are the primary drivers. Wage inflation in the US and India is noted as a risk that puts pressure on margins.

Manufacturing Efficiency

Not applicable. Efficiency is measured by service delivery optimization and cost-to-serve metrics.

Logistics & Distribution

Not applicable for digital cloud transformation services.

📈 Strategic Growth

Expected Growth Rate

15%

Growth Strategy

Growth will be driven by the $15.20 million growth capital raised by Healthcare Triangle Inc from institutional investors and expansion into the Singapore market. The Group is also focusing on cost optimization and service delivery synergies following internal business reorganizations.

Products & Services

Enterprise Cloud Transformation services, Healthcare Cloud solutions (via Healthcare Triangle Inc), and Blockchain technology services (via Blockedge Technologies).

Brand Portfolio

SecureKloud, Healthcare Triangle, Blockedge, Mentor Minds.

New Products/Services

New product launches are focused on healthcare-specific cloud transformation and blockchain platforms, though specific revenue contribution percentages are not disclosed.

Market Expansion

Targeting the Singapore market and expanding the healthcare cloud footprint in the USA.

Market Share & Ranking

The Group has a moderate scale of operations and faces intense competition from global IT giants and small-scale niche players.

Strategic Alliances

Maintains strategic tie-ups with major public cloud enterprises including AWS, Microsoft, and Google.

🌍 External Factors

Industry Trends

The industry is shifting toward specialized healthcare cloud and blockchain solutions. The Group is positioning itself as a niche player in these growing segments despite current operating losses.

Competitive Landscape

Competes with global IT giants (e.g., Accenture, TCS) and specialized cloud boutiques.

Competitive Moat

The moat is built on deep domain expertise in healthcare cloud compliance and strong partnerships with major cloud providers, though this is challenged by the scale of larger IT competitors.

Macro Economic Sensitivity

Highly sensitive to US GDP growth and corporate IT spending trends, as the majority of revenue is derived from the US market.

Consumer Behavior

Increasing demand for secure, compliant cloud environments in the healthcare and life sciences sectors.

Geopolitical Risks

Exposed to risks from changes in US regulatory frameworks and immigration policies (H-1B visas) which affect the mobility of the workforce.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to strict data privacy regulations such as HIPAA in the US healthcare sector and evolving immigration laws regarding work visas.