Smallcap stock engaged in delivering real-time Banking & Financial Services, ATM, insurance, e-governance, e-commerce, and logistics services jumped 4 percent in the days trade upon tieing up with Winiin Taxscope Private Limited to offer Income Tax Return Filing Services, GST Registration, and many more.
With a market capitalization of Rs. 2,538 Crores, the shares of Vakrangee Limited were trading at Rs. 23.96 per equity share, up 0.67 percent from its previous day’s close price of Rs. 23.80.
Vakrangee Limited has entered an agreement with Winiin Taxscope Private Limited (Tax2win) to offer Income Tax Return Filing Services, GST Registration / Return Services, and Other Value-added Services across Pan India through the Vakrangee Kendra network.
Through this tie-up, between Tax2win and Vakrangee Limited, Tax2win will be able to cross-sell various tax services to the urban, semi-urban & rural areas of the Country through Vakrangee Kendra networks.
Tax2win is one of India’s most trusted income tax filing platforms that provides tax-related services, including income tax return (ITR) filing, GST return, tax planning, and tax consultancy services. It is authorized by the Income Tax Department of India, ensuring that its services are compliant with the latest tax laws and regulations.
Vakrangee Kendras are exclusive Branded format outlets that offer a comprehensive range of products and services across banking, insurance, ATM, assisted e-commerce, e-governance, and Total Healthcare.
With over 84 percent of Vakrangee Kendra outlets in Tier-4 to 6 locations, this association will enable Vakrangee to allow its customers to get access to Income tax filing, and GST registration/return services in the most remote parts of the country.
It will continue to add more products and services and tie up with leading business partners to offer our customers a one-stop solution to all their needs, it is also aspiring to be the most trustworthy physical as well as online convenience store across India and positively moving towards Vakrangee Kendra’s new brand philosophy of ‘Ab Poori Duniya Pados Mein’.
Vakrangee Limited is one of India’s largest Last Mile Distribution Platforms with a Physical as well as Digital Eco-system in place with a Pan India Presence. It is engaged in delivering real-time Banking & Financial Services, ATM, insurance, e-governance, e-commerce, and logistics services to the unserved rural, semi-urban, and urban markets and enabling Indians to benefit from financial, social, and digital inclusion.
Its assisted Digital Convenience stores are called as “Vakrangee Kendra” which acts as the “One-stop shop” for availing various services and products. It has 21,653 Outlets with a presence across 31 states, 571 Districts, and ~83 percent in Tier 4 and 5 cities.
In terms of ATM services, it has 6,487 ATMs with ~4.5 Crore Total Transactions, with a Total Gross Transaction Value of ~Rs. 11,876.9 Crores with 76 percent presence in Tier 4 and 5 cities.
Through its Banking Services, it has opened ~14.1 Lakh Accounts, with total transactions of ~Rs. 8.4 Crores, a Total Gross Transaction Value of Rs. 43,171.6 Crores, and ~13.8 Lakh No. of Insurance / Pension Schemes sold.
As of Q4FY24, it generated 55.8 percent of its revenue from Banking, Financial Services and Insurance, 29.1 percent from ATM services, and 15.1 percent from E-Commerce & Other Services.
Its Revenue from operations grew by 5.79 percent from Rs. 50.94 Crores in Q4FY23 to Rs. 53.89 Crores in Q4FY24, accompanied by profits of Rs. 68 Lakhs to Rs. 2.19 Crores.
Written by: Bharath K.S
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