20-Year Old Leading National Cybersecurity & Managed Services Platform

This is a leading cybersecurity and managed services partner (VAR) with a 19-year legacy. The company has successfully evolved from a project-based systems integrator into a recurring-revenue "MSP 3.0" leader, perfectly positioned to capture the high-growth Indian enterprise security market.

1. 01
   Established Pedigree19-year operating history with a blue-chip base of 500+ enterprise customers across BFSI, manufacturing, and healthcare.
2. 02
   Scalable Operations24x7 centralized SOC/NOC operations leveraging a cost-efficient India-based delivery model.
3. 03
   High-Quality RevenueTargeting ~60% recurring revenue by FY27E, driven by long-term managed services contracts.
4. 04
   AI-Enabled AdvantageProprietary framework that decouples headcount from revenue growth, materially reducing incident response times.
5. 05
   Capital-Light ModelServices-led cash flow profile with minimal capital expenditure requirements.

Engine	Focus Area	Value Proposition
DTS	Digital Transformation	Infrastructure modernization and hybrid cloud entry points.
CNS	Cybersecurity & Networking	Compliance-driven security and non-discretionary spend.
MSP 3.0	Managed Services	24x7 SOC/NOC operations delivering high-margin recurring revenue.
AI Framework	Automation	Embedded analytics reducing costs and increasing operating leverage.

Project Pi maintains a consistent growth trajectory with significant margin expansion potential through automation and service mix shift.

Metric	FY24A	FY25A	FY26E	FY27E
Revenue (USD Equiv.)	~ $29M	~ $33M	~ $38M	~ $44M
Revenue CAGR	--	--	--	~ 15%
Pure Services GM %	35-40%	35-40%	36-41%	37-42%
Adj. EBITDA Margin %	6.9%	7.8%	7.0%	7.5%
Recurring Rev. %	42%	50%	55%	60%

Strategic Note: The blended gross margin (~13-14%) includes hardware/software pass-through. The core services engine delivers high-value margins aligned with top-tier India IT benchmarks.

1. 01
   Market TailwindsThe Indian cybersecurity market is projected to reach $3.5-4 Billion by 2025, growing at an 18-20% CAGR.
2. 02
   Growth DriversFueled by cloud adoption, regulatory mandates (CERT-In), and rising digital threat exposure.
3. 03
   Inorganic OpportunitySignificant "Buy-and-Build" potential in a highly fragmented regional market.
4. 04
   Exit PathwayClear 3-4 year trajectory toward a strategic exit or sponsor-led IPO.