🧠 “Naapbooks: Blockchain Dreams, ₹12 Cr Sales — Should We Clap or Cry?”
Date of Publishing -
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At a Glance
Naapbooks Ltd is an SME-listed IT firm that’s grown profit 170% YoY on just ₹12 Cr of revenue in FY25. They build fintech, e-governance, and blockchain software — but suffer from 172 debtor days and 682 days of working capital. Is this the next SaaS star or a smallcap sugar rush?
1️ Introduction with Hook
Fintech. ERP. Blockchain. AI. Cloud.
Naapbooks’ pitch deck sounds like ChatGPT wrote it after too much Red Bull.
But beyond the buzzwords, here’s the truth:
FY25 revenue = ₹12.18 Cr
FY25 profit = ₹4.48 Cr
FY25 OPM = 56.5% 😳
Working capital days = 682 😵
SaaS or sus? Let’s find out.
2️ WTF Do They Even Do?
👨💻 Business: CMMI Level 3 & ISO certified IT dev shop
🧾 Offerings:
Fintech apps
ERP for e-governance
Blockchain apps
Mobile + Web + Embedded dev
🧠 Clients: Mostly government and financial sector
🛠️ Services: Full lifecycle — from UI/UX to debugging
They basically say “yes” to every tender that has “digital” in the title.
