January 17, 2022
Tuesday, August 31, 2021 – Systems Limited (SYS) becomes the first Pakistani information technology company to cross PKR 100bn market capitalization. We humbly announce that our current share price stands at PKR 740.93, which values PKR 102bn in market capitalization. The reports from the second quarter demonstrate a strong balance sheet and financial strength of the company.
Reflecting on Systems Limited’s financial standing, Rahul Hans, Intermarket Securities Limited analysts, said, “We have upgraded our estimates for SYS and rolled overvaluations to Dec 2022 – with a new TP of PKR 950/sh (vs. PKR 685/sh earlier) maintaining our Buy rating. While our overall thesis is unchanged, SYS has delivered higher-than-expected revenues/profits in 1HCY21 to warrant the upgrade.”
Our industry-best, digital-led, and cost-effective services including, application development, IT infrastructure, automation, cloud, digital transformation, etc., generated approximately 76% of the consolidated revenue. While the remaining came from software trading, OneLoad, and BPO. With over 400+ global clients, 45% of the company’s revenue is from the US, 8% from Europe, 27% from the Middle East, and 20% from the local market. Due to our unparalleled customer service, almost 90% of our revenue is recurring.
Expressing his gratitude for Systems’ financial growth, Asif Peer, CEO at Systems Limited, is optimistic regarding the future of the company. “Systems Limited has maintained a high-growth trajectory in this quarter as well. With an aggressive focus on the advanced, well-poised technological solutions and under the leadership of dedicated professionals and industry veterans, we will be able to expand our operations in Europe and other global markets and lead the way.”
We have an exceptional track record of offering disruptive technologies around digital, data, cloud, and security to various industries – especially retail and CPG. By continuously reinventing ourselves and strengthening our digital portfolio, we expect to accelerate our IT exports and have a solid footing around the globe.