Wherrelz IT Solutions Share price and Fundamental Analysis

Company History

The Company was originally incorporated as Private Limited Company in the name of 'Wherrelz IT Solutions Private Limited under the provisions of the Companies Act, 2013 vide Certificate of Incorporation dated December 19, 2014 issued by the Assistant Registrar of Companies, Maharashtra. Subsequently, Company was converted into a Public Limited Company pursuant to the Special Resolution passed by the shareholders at the ExtraOrdinary General Meeting of Company held on June 05, 2021 and consequent upon conversion, the name of Company was change to Wherrelz IT Solutions Limited vide a fresh Certificate of Incorporation dated July 12, 2021 was issued by the Registrar of Companies, Mumbai.

The Company is promoted by Mr. Chaitanya Dhareshwar who has almost 16 years of experience and Mrs. Sumanlata Dhareshwar who has around 14 years of experience in the field of networking, software design, quality assurance, product development and internet technology. The Company including subsidiary Company, Infinitybeam IOT Labs Private Limited is engaged in the business of webcentric, multi-spectrum IT Product development and maintenance and provision of IT Consultancy services. It provides a wide range of services such as Enterprise Risk Management (ERM), Enterprise Resource Planning (ERP), E-Commerce, Application Programming Interface (API), Cyber Security, Internet of Things (IoT), cloud based tools, etc. through standard software development model or through customized software development model depending upon the requirement of the clients which is backed by advanced technology and efficient team of software developers who tend to keep themselves abreast by undergoing continuous R&D activity. Its objective is to develop and maintain all in all software solutions to every enterprise in various sectors such as Ecommerce, Education, Fintech, Healthcare, Social Networking, and other industries to enable ease of doing business, customer-centric solutions. The Information Technology industry is a continuously evolving technological industry and the Company endeavor to exploit these technological advances to reach audiences in India and globally to provide growth, efficiency and advancement in the business objectives.

The Company has its registered office in Navi Mumbai, Raigarh. The Company along with its subsidiary Company, Infinitybeam IOT Labs Private Limited provide varied applications for product portfolio which have helped to build a wide customer base across many sectors. The Company has leveraged existing clients to maintain long term business relations by maintaining agility in product iteration, maintenance and software development. The Company is focused on continuing to expand relationships with existing customers by helping them solve new problems and become more engaging, responsive and efficient. It has a demonstrated track record of expanding work with customers after an initial engagement. The Company use next-generation technologies, including AI, bots, to help our customers transform areas ranging from technical IT processes to complex business processes.

The Company help customers deliver effective, quality software. With broad software engineering capabilities, it has the ability to choose the methods, technologies and tools which it believe are best suited to customers' business needs. The engineers use a broad range of technologies including web technologies, cloud, data, mobile, testing, hardware & embedded, integration and APIs, IoT, AI, analytics and DevOps. The Company believe that its tools provide the clients with a flexible approach for running large software projects and constantly experiment with the latest tools and techniques, which allow to select technologies with the right balance between innovation and predictability.

The Company traditionally focused on enterprises that are technology-and information-centric, where it believe software development expertise is valued in the same vertical such as Artificial Intelligence, Big Data, Virtual Reality, etc. The Company intend to diversify the business activity by inclusion of new division of resale of electronic gadgets, applications, appliances and hardware. The Company believe that expanding the business in same industry at different vertical in the process chain will enable to deliver services efficiently.

Customer Relationship Management (CRM) is a category of integrated, data-driven software solutions that improve how one interact and do business with the customers. CRM software acts as a single repository to bring the client's sales, marketing, and customer support activities together, and streamline its process, policy, and people in one platform. The Company provide standard software system as well as a customizable, flexible solution designed to suit ones' business requirements. In addition to its key hallmark product, the Company support clients with other software such as open source CRM - SugarCRM, SuiteCRM, Odoo, Vtiger, Custom CRM platforms in Node, NET with MongoDB, SQL database, Microsoft partner for Dynamics 365 CRM, etc. The Company provide services in different sectors such as Online Shop (Nopcommerce Silver partners), Warehousing facilities (Uniware partners), Mobile app-based commerce API (warehousing, delivery, sales & process management).

In February 2019, 46498 Equity shares subscribed resulting to 92.996% equity shares in Infinitybeam IOT Labs Private Limited, thereby making it as the Subsidiary Company. In March 2021, Company received ISO 9001:2015 certification for Quality Management System.