Sattrix Information Security Lands ₹9.30 Cr Cybersecurity Contract with SBI

Sattrix Information Security Limited has received a Letter of Intent (LoI) from State Bank of India (SBI) for a three-year contract valued at ₹9.30 crore, excluding applicable taxes. Under the agreement, Sattrix will serve as a Managed Security Service Provider (MSSP) for SBI's Cyber Security Defense Center (CSDC). This marks a significant new client for Sattrix, a major public sector bank, enhancing its order book and client portfolio.

The Announcement

Sattrix Information Security announced on April 1, 2026, that it received the Letter of Intent from State Bank of India. The contract spans three years and is worth ₹9.30 crore before taxes. Sattrix will provide its services to SBI's Cyber Security Defense Center (CSDC).

Why It Matters

Securing a contract with a large institution like SBI highlights Sattrix's capabilities in providing critical cybersecurity services. It validates the company's offerings for the financial sector, which requires robust security. This engagement is expected to boost Sattrix's revenue visibility and strengthen its position in the MSSP market.

Background

Founded in 2013, Sattrix Information Security focuses on cybersecurity solutions. The company has a history of securing work orders, including a ₹1.64 crore deal for SOC services in January 2026 and a ₹13.42 crore order for product licenses from a global telecommunications firm. Sattrix also recently secured work orders for Managed SOC Services from Hitachi Systems India under a white-label agreement. Its successful IPO, which was oversubscribed more than 70 times, indicated strong investor interest before this deal.

Key Impacts

The ₹9.30 crore contract provides a predictable revenue stream over three years. Adding SBI significantly enhances Sattrix's credibility and client profile. This win strengthens its standing as a player in the Indian cybersecurity services market, particularly for MSSP offerings. The company will now focus on delivering specialized services to SBI's CSDC, demanding high operational standards.

Risks to Watch

Implementing and managing cybersecurity services for a large financial institution like SBI requires precise execution. The cybersecurity market is highly competitive, with numerous domestic and international firms. Sattrix must also focus on attracting and retaining skilled staff to counter evolving cyber threats and adhere to strict financial sector regulations.

Competitive Landscape

Sattrix operates among specialized cybersecurity firms and larger IT service providers. Competitors like Quick Heal Technologies offer endpoint security, while major players such as TCS and Infosys provide broad cybersecurity services. Specialized firms like StrongBox IT focus on areas such as penetration testing. Sattrix's success with SBI highlights its capability in securing a major MSSP mandate from a public sector bank.

Financial Snapshot

For the year ending March 2025, Sattrix Information Security reported revenue of approximately ₹505.01 million. The company also recorded a Net Profit of ₹4 crore for the same period, marking a 58.2% increase year-on-year.

Looking Ahead

Key developments to monitor include the formalization of the contract, the project's start date, and updates on service delivery to SBI's CSDC. Investors will also watch Sattrix's ability to scale operations for this major client and any subsequent significant contract wins. Future financial results will show the contract's impact on revenue and profitability.