Indore-based SaaS company Serosoft reported a 21.3% growth in revenue to Rs 32.54 crore in FY24, compared to Rs 26.83 crore in FY23. Its operating revenue accounted for approximately 89% in FY24, down from around 96% in FY23.
Serosoft specializes in educational software solutions, offering products such as ERP/Student Information Systems (SIS), library management systems, course management systems, and alumni network management systems. Its flagship product, Academia, is used by over 200 institutions globally to streamline operations and enhance student experiences.
The company’s expenses increased by 17.7% to Rs 31.48 crore in FY24, compared to Rs 26.75 crore in FY23. Employee benefit costs accounted for 63.43% of total expenses in FY24, up from 59.32% in FY23. Depreciation costs increased to 3.24% of total expenses in FY24, compared to 2.13% in FY23.
Serosoft posted a net profit of Rs 64.64 lakh in FY24, reversing a loss of Rs 79.08 lakh in FY23. The company’s EBITDA margin improved to 6.38% in FY24 from 2.46% in FY23, reflecting better cost efficiency. Its ROCE also increased to 1.84% in FY24 from 0.15% in FY23.
Founded in 2008, Serosoft is promoted by a team of former investment bankers, US graduates, and MBAs. It is part of the 50-year-old Hindustan Group of Companies and has established itself as a key player in the education technology industry.
Serosoft raised Rs 29.54 crore in funding through a Series A round in October, 2022. The company’s shareholding structure includes co-founders Arpit Badjatya (22.04%) and Siddharth Badjatya (22.04%), with an ESOP pool of 2.61%.
With a focus on innovation and automation, Serosoft continues to drive transformation in the education sector by providing cutting-edge software solutions to institutions worldwide.