Dreamed of turning ₹15,000 into ₹30,000 overnight? Exato Technologies just made it real with a blockbuster BSE SME debut today, smashing records with ~90% gains from ₹117 issue price to ₹279+. But here's the investor's nightmare solved: Was this a flash-in-the-pan or your next multibagger? Let's unpack the hype, heroes, and horizon.
The Mania Behind the Madness:
Grey market buzz hit 114% GMP before listing, fueled by 880x subscription frenzy. Why? Vijay Kedia's 4.5% stake whispered "smart money," while AI-CXaaS magic hooked retail frenzy. Current price hovers at ₹279 (Dec 5 close), capping SME gains but signaling insatiable demand. Investors cheer as it trades at 15x P/E with 28% ROE – cheap for a growth beast.
Appuorv Kumar Sinha, MD, spotted the mid-tier CX gap in 2016 – too big for Accenture clones, too small for startups. Wife Swati Sinha as promoter built Exato from Noida scratch into AI automation powerhouse for MakeMyTrip, RBL Bank. Revenue rocketed 56% FY24 to ₹114 Cr, PAT doubled FY25 at ₹10 Cr – recurring 40% ARR locks in stability.
Exato's AI tailwinds scream upside. With 9% sales CAGR accelerating via product dev, expect ₹500 by 2026 on margin expansion. 2030? ₹1,500 if BPM booms (20% CAGR assumed). Stretch to 2035: ₹4,000 on global scale; 2040: ₹10,000+ if leaders nail execution like peers. Risks? Client concentration, competition – but ROCE 26% buys time.
