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BSE: 511431 | NSE: VAKRANSOFT | ISIN: INE051B01021Market Cap: [Rs.Cr.] 2,127 | Face Value: [Rs.] 1
Industry: Computers - Software – Converts
Vakrangee Softwares Ltd is a premier integrated document and printing related services provider with global scales and skills. The company is engaged in software and database related services. They offer document management services, which includes inbound scanning, digitization, workflow management and document life cycle management. The company is headquartered in Mumbai with branch offices in Pune, New Delhi, Jaipur and Lucknow. The company's lines of business include Document Management Services, Printing Management Services and IT & IT Enabled Services. Document Management Services comprise inbound document scanning, digitisation, workflow management and document life cycle management, Printing Management Services comprise variable colour data printing and other services and IT/ITeS-Enabled services comprise software development, system requirement study, tailored software development, system integration and election-related services. The company has been working closely with the Chief Electoral Officer of various states of the Election Commission of India, facilitating timely free-and-fair elections in the world's largest democracy.
They have been associated with the Ministry of Corporate Affairs for the digitisation of critical records under the MCA 21 project. Also, they have been working with the UP Electronic Corporation, Government of Uttar Pradesh for digitizing land records in the largest Indian state. Vakrangee Softwares Ltd was incorporated on May 28, 1990 as a private limited company with the name Vakrangee Investment & Consultancy. The company was promoted by Dinesh Nandwana, an associate member of the ICAI. The company is a pioneer and an established player in e-Governance, Document and Printing Management. In April 3, 1992, the name of the company was changed to Vakrangee Investment and then to Vakrangee Ltd in the year 1995. In September 1999, the company got their present name, Vakrangee Softwares Ltd. The company diversified into software and launched their bi-lingual software for voter's electrol roll.
During the year 1999-2000, the company setup two 100% EOU under STP in Mumbai and Jaipur. During the year 2003-04, the company successfully completed the prestigious project for creating the software that automates the counting of the preferential voting system of the Bar Councils. During the year 2004-05, the company entered into Memorandum of Understanding with Godrej & Boyce Mfg Co Ltd for jointly executing election and related projects on national level. The company secured the Order for Digitization of Records of the Indian Patent Office for digitization of 20000 patent records covering scanning, OCR conversion and web enabling the records. During the year 2005-06, the company made investments into Vakrangee Electronics Pvt Ltd, a company into electronics business and developing Electronic Election Machine with latest technology for effective election across the world. The company received the Digitization work of Ghaziabad Tehsil Land Revenue records from UP Electronics Corporation Ltd.
Also, they received the work from Ghaziabad Development Authority for digitization of Property and Land records. The company received an assignment from Election Commission, Maharashtra state unit for the preparation of Electoral Photo Identity Cards for 20 districts of Maharashtra state during the year. During the year 2006-07, the company installed a state of the art 'High Speed Variable Data Printing System' with capacity to print 2180 impressions per minute. The company invested Rs. 2.10 crore in Vakrangee Electronics Ltd by subscribing 21,00,000 shares of Rs. 10 each. During the year, the company was awarded contract by CMC Ltd to handle work of digitization for Registrar of Companies under Government of India e-Governance initiatives. The Company was also awarded work of Public Facilitation Office directly by TATA Consultancy Services Ltd. During the year 2007-08, the company forayed into the private sector, which includes large companies from the BFSI, retail and telecom sector in both their DMS and PMS vertical. The company made a tie up Eastman Kodak and installed one large scale variable colour data printers, the largest in Asia and another printer of the same capacity is under installation.
Also, the company opened 32 new offices during the year. Vakrangee IT Solutions Ltd, the subsidiary company acquired Intellectual Property Rights of software products, which were under development. The company was awarded ET-500 Best Company of the Year for 2007-08. The company also received Kodak Gold Plus accreditation, the only company in India with this award. Businessworld identified Vakrangee Softwares as one of the best mid-sized companies in India. In October 2008, the company entered into an agreement with Financial Information Network and Operations Ltd, the Mumbai based Smart Card Solution Provider to combine their complementary skills and expertise for execution of the Rashtriya Swathya Bima Yojana. The work involves providing software, hardware, networking & deployment of resources for delivery of Smart Card based Health Insurance Cover to the families below poverty line in India.
In March 2009, the company approved the incorporation of a 100% subsidiary company at Philippines and setting up of Software Technology Park. In April 2009, the company through their subsidiary company, Vakrangee e-Solutions Inc entered into a tripartite agreement with 1 Document Corporation, Philippines and IL&FS Technologies Ltd Philippines, for executing the Land Titling Computerization Project of Land Registration Authority (LRA), an administrative agency of the Government of the Republic of The Philippines.
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