Globalspace Technologies - A Health Tech and Edu Tech play

About GlobalSpace Technologies Limited:

GlobalSpace Technologies is a Digital, Mobility, Analytics, AI & Cloud technology Company providing integrated Healthtech platforms to major stakeholders of Healthcare domain. GSTL’s software product platforms and solutions enable large and medium enterprises embrace mobility & digital technology for their business enhancement. In addition to Pharma, GlobalSpace has been pioneer in creating solutions for Doctors & Channel to create a 360- degree digital healthcare ecosystem. Apart from Health Tech, Globalspace is doing some path breaking innovation in Edutech industry with its subsidiary Makebot. Makebot is already India’s leading STEAM education platform with more than 1200 School using its platform to impart STEAM learning to its students.

About Makebot Robotic

Makebot, founded in 2018, is a leading STEAM Education provider using coding on robotics, AI and machine learning and offers STEAM certification programs & International Olympiad for students through its online platform. Makebot STEAM programs are designed to induct 21st century skills in students with heathy competition-based learning methodology and through edutainment. So far, Makebot has over 1,45,000 students and 1200+ schools subscribed to its online certification program on STEAM and the numbers are growing exponentially especially after Post-COVID and launch of new education policy to incorporate STEAM and coding in curriculum.


Docexa, AI enabled Doctors Virtual Clinic is a platform to connect Doctors with their patients. Our motive is to make Healthcare simpler and easily accessible to all. With experstise of the top Senior Healthcare Professionals we thrive to make this platform better for healthy doctor-patient relationship.


Medi-App is a B2B mobile app platform which links Retail Chemists, Stockists and Pharma companies. Medi-App offers order placing, inventory management and Sales Promotional activities among its many features. We invite companies in Pharmaceutical, OTC, Healthcare and FMCG to try Medi-App and directly connect with retail chemists across the country for sales and promotion of their products.

Key points to consider

  • The company had recently announced a tie up with Pfizer for vaccine awareness and teleconsultation which I think is a big deal for a 70cr Mcap company

  • DocExa has association with CCI and FOGSI and has tie ups with Cadila and Macleods which is again huge given the size of the company

  • Health Tech and Edu Tech both have huge tail winds and Covid has accelerated the adaptability/acceptance of these products

  • Medi app also lists a number of top pharma companies like Mylan, Alkem Labs, IPCA . etc as their clients

  • The company is planning to migrate to BSE main board

Key Negatives

  • Being a nano cap stock very little information is available on the company

  • Margins are very volatile and the debtor days are very high and the turnover is very low which seems unusual for a Tech related company

  • Trade receivables are also quite high which is again unusual

  • Medi-app was acquired from a related party and the details of the deals needs to be looked out for

Reference websites

Latest investor presentation

On the face of it the company looks very interesting and is worth researching on.
I would request @Tar @sahil_vi @sujay85 and others to look at the company and provide their valuable insights.

I had bought shares in this company last year and added further when share price started increasing on the hype of tele-medicine. Their Docexa was expected to perform well during Covid. However, the company did not perform well on tele-medicine and the share price collapsed. One can download their Android/IOS apps and try them. There is not much worth speaking. Their presentations are surely full of the right buzzwords.

Last year, when I was invested I wrote to their CS, asking them to divulge detailed information in the future investor presentations, such as, the number of employees in each segment and how much revenue they earn from each segment. They said they will do so, but in reality they never did. This does not look good. How they make money right now is a mystery to me (probably their revenue comes from services they provide in the pharma industry).

This year they are into Edutech via Makebot. Frankly, the company does not look very promising to me right now although things may turn positive in a few quarters. Worth tracking.