Alankit Limited Announces Annual Financial Results for FY2017: Registers Strong Growth with Record Gross Revenue of Rs. 86.65 cr

Alankit Limited is a flagship company of the Alankit Group listed on both the premier exchanges of the country, NSE and BSE. The company announced the results for the fourth quarter (Q4) and financial year 2016-17. The company has clocked in notable figures across all metrics of performances and the board has recommended dividend at the rate of 10% to its shareholders.

From gross revenue to EBITA to profit after tax, the company has seen a triple digit growth on all counts. Sitting at a gross revenue of Rs. 86.65 cr, Alankit Limited recorded a remarkable growth of 186.32%. In terms of EBITA, the company registered a growth of 300% with the figure touching Rs. 20.38 cr. The company's EPS ranged around 0.93 and profit after tax grew by 276%, standing at 13.25 crore.

A large part of business for Alankit sits in the e-governance space and it has been noted as one of the fastest growing companies in the sector. The company has achieved new mile stones towards PAN application acceptance and has reached a figure of 1.15 Crores Pan Application forms in FY16-17 against 51 Lakhs in the previous year, registering a growth of 125%. Currently, Alankit has a network of 2250 TIN/PAN centers and with advent of GST, the company plans to double its footprint over next few months across the nation. With GOI clear focus on less cash Society, there is huge potential for growth for Alankit as leading pan Facilitator.

Commenting on Alankit Limited's performance, Mr. Ankit Agarwal, Managing Director said, "Alankit Limited is a company committed to partner India's dream of going digital on back of skilled manpower so we contribute towards building an electronically governed, efficient, transparent and an effective economy. Our longstanding commitment to our stakeholder's reflect in our performance year over year, as we work hard to offer better returns to our investors each year. A marquee achievement for the company this year was securing the license as a GST Suvidha Provider (GSPs) and we are leaving no stone unturned to achieve newer heights by being an enabler of this positive transformation in national tax regime. With over 40% market share in direct tax compliance, making a headway in the indirect tax compliance market is a natural progression for the group." 

Alankit's Adhaar enrolment service is another important peg in the e-governance portfolio. In addition to it the potential of Aadhaar diversified activities such as corrections/updates/e-Aadhaar, Aadhaar seeding and Aadhaar PVC Card version has increased by multi folds with addition of the existing 1140 million Aadhaar card holders. To maximize encashment of the potential, Alankit has devised a new strategy to entail enhanced patronage by conducting camps in corporate offices, large business houses and hospitals etc. The company organized more than 1250 camps throughout the country in 2016-17 and this year the target is to organize more than 3000 camps. Alankit at present is operating more than 400 PECs. In FY 2017-18, the company has plans to establish 700 exclusive PECs/AKs targeting 25 lac enrolments including 18.50 lac fresh enrolments and 6.5 lac updates i.e., 50 % increase over the previous year.

Alankit has been appointed as a distribution agency for EESL (under UJALA programme) to distribute fan, tube light and LED bulbs. The main objective of the project is to provide energy efficient appliances at low cost to households and institutes, which is one of the key initiatives being driven by Government of India and various State Governments to enhance energy efficiency in all sectors. Alankit has distributed about 10 lakhs bulbs in this Financial Year and is confident of achieving numbers of above 80 lakhs in the next Financial Year.
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Alankit is a 25 year old entity which has been operating across the diverse spectrum of financial services, e-governance, insurance and healthcare services. Alankit Assignments Ltd., one of the leading affiliated companies of the group commenced business operations in 1995 and was recently the registrar of one of India's largest ever public sector IPO – HUDCO. With a network of over 5000 centers, Alankit has direct presence in more than 673 cities across India. The company also has presence in international frontiers with presence in UAE, UK and Singapore. After building strong and successful portfolio in financial services and e-governance space with offerings like UID enrolment (Aadhaar), TIN and PAN facilitation, IWRC, e-Return intermediary and more, a recent milestone for the company has been identification and authorization by GSTN as a GST Suvidha Provider (GSPs).