Karachi: Supernet Technologies (STL) is poised for significant growth following its recent migration to the Main Board from the GEM Board, a change facilitated by the approval of the High Court earlier this year. The transition is expected to enhance the company's value by increasing free float, improving price discovery, and offering greater access to growth capital.

According to JS Global, the company completed a merger whereby shares were issued to Supernet Limited shareholders at a swap ratio of approximately 1.68 STL shares for each Supernet Limited share. This strategic move is anticipated to bolster the company's financial outlook, with management projecting an increase in service-based revenue from Rs4.2 billion in FY25 to Rs6.0 billion in FY26.

Supernet Technologies, a comprehensive technology solutions provider, revealed its revenue mix during an analyst call hosted by Topline Securities. Recurring revenue constitutes roughly 45% of total revenue, while non-recurring revenue, driven mainly by cybersecurity solutions and infrastructure projects, accounts for the remaining 55%. The company's services have grown with a compound annual growth rate (CAGR) of approximately 21%, while non-service revenue has witnessed a higher CAGR of about 65%.

The company is also expanding its presence in the MENA region, aiming to become a pivotal enabler of digital adoption for businesses. Management highlighted its role in the fiberization of Pakistan's cellular networks, with a significant opportunity remaining as 30-40% of the country's telecom towers still require fiberization.

STL's management underscored the promising outlook for Pakistan's IT sector, with software exports projected to grow at a CAGR of 22%, rising from US$3.8 billion to approximately US$11 billion by 2030. As the company continues to focus on international expansion, it aims to establish itself as a trusted technology partner for corporates both in Pakistan and the broader MENA region.