Systems Limited becomes the first Pakistani IT company to cross Rs. 100 billion market value

In recent news, Systems Limited has overall become Pakistan’s first technology company to have ever cross a market value of Rs. 100 billion. As of now, the company’s share price is Rs. 740.93 hence making a market capitalization of Rs. 102 billion.

According to Intermarket Securities Limited analyst Pahul Hans, Systems Limited had delivered higher than expected revenues in 1HCY21.

Moreover, the company has been consistent yet improving in terms of financial performance with a 42% growth in profits through the period from January to June 2021. This is a better improvement in comparison to last year. Overall, the company went from Rs. 1.067 billion to Rs. 1.514 billion.

The company’s revenue has grown 50 percent per year which has led to Rs. 3.5 billion growth in the second quarter of FY 2021. Moreover, the free cash flow has come in at Rs. 543 million in the FY 2021 where the gross profit margin was about 34 percent while the operating profit margin was 22 percent.

As of now, Systems Limited has served over 291 active customers in the second quarter where about 16 clients contributed over Rs. 1 million in revenue. In addition, Systems even acquired a 20 percent stake in Retailistan, which is a retail-tech startup, for Rs. 468 million.

According to Asif Peer, CEO of System Limited:
“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.”