DRC Systems India Ltd Share Price

History of DRC Systems India Ltd

DRC Systems India Limited (formerly known as DRC Systems India Private Limited) was incorporated on April 27, 2012 under the Companies Act, 1956. The Company is an IT services, consulting and business solutions organization delivering lasting, effective and viable solutions globally. Its wide range of tech services that is offered enables to build stronger relationships with clients leading to organic growth and strategic transactions. The Company offers its services across various industry verticals. The primary sectors catered to by DRC Systems include Financial Services, Retail and Consumer, Education, and the Public Sector. The Company is focused on innovation and creativity to lead the change, since its advent in 2012. With competent teams of developers, project managers, and stra ...tegists, it help customers overcome their business challenges with customized software development. The Company have diversified its service offerings through a mix of organic growth and strategic transactions. The Company has developed and implemented online service framework for small and large corporate across India and abroad. The Company customer base is spread across globe in geographies like Europe, United States, Middle East, Asia-Pacific and India. DRC Systems is serviced across industry verticals like Financial Services, Retail and Consumer, Education and Public Sector. Its services and solutions help businesses scale the market. The Company transform and streamline the business activities of enterprises and deliver smart solutions that save time and improve the workflow. As many businesses are embarking on digital transformation, cloud adoption and digital delivery of services, the Company has leveraged deep expertise on e-Learning, e-Commerce and bespoke services combining with Cloud, Analytics, Block chain and Cyber Security. The Company have seen increasing client engagement from development to strategic discussions and consultancy, migration of traditional operations to ERP, on-premise to cloud, cloud to multi-cloud and cloud native. Delivering these demands with future ready technology stake has made success stories of innovation and growth for customers and multi-year engagement and sustainability.. During the year, the Hon'ble National Company Law Tribunal, Ahmedabad Bench has, vide its Order dated November 27, 2020, sanctioned the Composite Scheme of Arrangement amongst lnfibeam Avenues Limited, Suvidhaa lnfoserve Limited, DRC Systems India Limited and NSI lnfinium Global Limited and their respective shareholders and creditors under Sections 230 to 232 read with Section 66 and other applicable provisions of the Companies Act, 2013 leading to interalia, transfer and vesting of Theme park & Event Software Undertaking from lnfibeam to DRC w.e.f. April 01, 2020 i.e. the Appointed Date. The Scheme became effective upon filing of certified copy of the Order with the Registrar of Companies (RoC) on December 02, 2020. The Record Date was set as December 11, 2020 for the purpose of determining the eligible shareholders of lnfibeam Avenues Limited for issuance of Equity Shares of DRC pursuant to the Scheme. Subsequently, the Equity Shares of DRC have been listed and admitted for trading on both the Stock Exchanges i.e, BSE Limited and National Stock Exchange of India Limited, w.e.f. March 10, 2021. During year 2019-20, the Composite Scheme of Arrangement amongst lnfibeam Avenues Limited, Suvidhaa lnfoserve Limited, the Company and NSI lnfinium Global Limited and their respective shareholders and creditors leading to interalia, transfer and vesting of Theme park & Event Software Undertaking from lnfibeam to DRC w.e.f. April 01, 2020. The Scheme became effective with the Registrar of Companies (RoC) on December 02, 2020. During the FY 2021-22, the Company expanded and invested as per growth strategy to build and implement digital infrastructure in India and internationally. The Company has invested and acquired a 2.3% stake in the Netherlands-based AutoDAP B.V. and then entered into a contract with EMAR Group for developing the blockchain-based wallet. As part of the international expansion, the Company has set up the first wholly-owned subsidiary (WOS)- DRC Systems EMEA LLC-FZ, in the United Arab Emirates, to strategically target the existing customers and tap the ever-growing IT and ITeS sector in the Middle East and taking the demand to the next level. The Company also established a new workstation in Ahmedabad to accommodate future work surges. During the year 2022, the Shareholders of the Company have approved the Split/Sub-division of each Equity Share of the Company from the existing Face Value of Rs. 10/-per Equity Share to Face Value of Re. 1/- per Equity Share in Extra Ordinary General Meeting held on February 25, 2022. During the year 2021-22, the Company has incorporated a Wholly Owned Subsidiary Company, namely 'DRC Systems EMEA LLC-FZ' in Dubai and the same is yet to commence its business operations. In 2023-24, the Company acquired 100% stake of DRC Systems USA LLC. Post acquisition, DRC Systems USA LLC became a Wholly Owned Subsidiary of the Company. Company has made an investment in Nighthack Technology Private Limited. Post investment, Nighthack became an Associate of the Company.