Kellton Tech, a digital transformation solutions and services company, is changing its systems and processes and is looking to hire a significant number of people to make the organisation ready to achieve revenues of $300 million from the present level of $100 million.
“As we crossed the $100-million revenue mark, we have hired a consultant to advice us on a growth plan to get us to the $300-million milestone. We have received a plan from him and we will be executing it in the next 45-60 days,” Niranjan Chintam, Chairman and Whole-time Director, Kellton Tech, told BusinessLine .
Also read:
Besides targeting to accrue more revenues from the existing customers by offering a ‘comprehensive package’ of solutions and services, the firm will focus on growing the business in Europe.
“From a vertical focus, we are going to focus on horizontal offerings. It is not that we are not offering them now. We are selling them aggressively, independently. We are going to offer them as a comprehensive package to get more revenues from our customers,” he said adding that it requires a new approach altogether and the firm is in the process of getting its employees ready.
“The European geography is presently contributing about 7 per cent to our revenues. We are expecting this to grow to 14 per cent,” he said.
He, however, has not indicated a timeline for achieving the $300 million revenue milestone and for taking Europe’s contribution to its revenues to 14 per cent.
Hiring
“We are putting in place systems and processes to help us achieve the targets. We are also hiring keeping an eye on our new growth targets. We will be hiring 400 more employees by the end of the financial year. Out of them, we are filling up 100 vacancies immediately,” Chintam said.
The firm has about 1,600 employees, including 350 in the United States, 150 in Europe and over 1,000 in India.
In the quarter-ended March 31, 2021, the firm registered revenues of ₹209 crore as against ₹198 crore in the same quarter previous year. It reported a net profit of ₹19 crore.
For the financial year 2020-21, it reported a net profit of ₹71 crore on a turnover of ₹780 crore.
Outlook
Chintam said there was an improvement in collections in the second wave. “In April, we collected 50 per cent of the normal collections. In May, it went up to 70 per cent and this further improved to 90 per cent in June,” he said.
Stating that the company’s revenues stagnated when compared to the previous year’s revenues, he said it could come back to the previous level despite facing challenges in the first quarter last year.