Key Quantitative Figures

  • EBITDA Margin Improvement: +470 bps improvement in EBITDA margin (FY26 vs FY23)
  • Order Backlog Growth: Increased 1.6× from $490M (FY23) to $792M (FY26)
  • Promoter Capital Infusion: 425Cr invested across two tranches (225Cr in 2021-2022 and additional `200Cr)
  • ROCE: Healthy ROCE of 34% (cumulative FY23-26)
  • GCC Scaling: 600+ employees in India Global Capability Center, planned increase to ~1,000
  • Client Reduction: Exited 8,000+ clients to focus on 300+ strategic accounts
  • Revenue Targets: FY30 organic revenue target of ~12,000Cr (~$1.3B); inorganic target of ~6,000Cr (~$0.7B); total aspiration of `18,000Cr ($2B)
  • Exchange Rate: $1 = `90

Marquee Deals Won (Last 3 Years)

  • $341M: Data Center and In-Building 5G/OnGo solutions for leading US-based global hyperscaler
  • $469M: Managed Services and Enterprise Networking solutions for US-based leading financial services giant
  • $107M: Managed Services for prominent public services organization in the US
  • $49M: Managed Services, Connectivity Infrastructure & Modern Workplace solutions for global technology innovator
  • $34M: Connected Building and Digital Workplace solutions for largest hospital chain in the US
  • $30M: Connectivity Infrastructure & Enterprise Networking solutions for not-for-profit catholic healthcare system
  • $26M: Modern Workplace solutions for not-for-profit catholic hospital and health system
  • $25M: Enterprise Networking & Modern Workplace solutions for global leader in packaged baking
  • $24M: Modern Workplace solutions for world's largest off-price retailer of apparel and home fashions
  • $9M: Not specified
  • $8M: Not specified

Transformation Highlights

Three-Phase Turnaround:

1. Fix the Basics: Cut SG&A by 220 bps, consolidated facilities, renegotiated carriers, migrated help desk offshore, transitioned sub-contractor labor to in-house, unified 22 legacy ERP systems into single SAP/Salesforce/ServiceNow stack

2. Architect for Scale: Established 600+ employees in India GCC, migrated backend processes to India, centralized NOCs/NMSs & shared services, expanded alliances & partner ecosystem

3. Unlock Growth: Exited low-value customer relationships, shifted deal mix to multi-solution higher tenure deals (~18 months from ~9 months), won high-value hyperscale & colocation accounts, launched AI-powered solution offerings

Operational Metrics

  • D&E Ratio: Improved to 0.6x (from 1.2x in FY23)
  • Workforce Shift: 15% of workforce shifted to new GCC in Bengaluru
  • Certifications: ~2,100 certifications including 650+ trained on AI
  • Learning Hours: 36 hours of annual learning per employee (38% above industry benchmark)
  • CSAT Score: 4.67/5 on projects
  • Active Client Locations: 5,000+
  • Technology Experts: 1,500+
  • Delivery Support Centers: 75+ across 6 continents

Growth Strategy

Organic Growth Enablers:

  • Multi-million dollar deal wins with large hyperscalers across new AI campus builds
  • Expanding Fortune-500 mega account relationships through multi-solution selling
  • Accelerating Rest of World growth, doubling down on India and scaling across Europe
  • Elevating delivery excellence

Inorganic Growth:

  • Completed acquisition of Brazil-based company with ~$50M revenue (effective May 1, 2026)
  • Healthy pipeline of acquisition opportunities identified
  • 3-pronged approach to realizing value from acquisitions

Market Opportunity

  • Global Data Center Infrastructure Market: $0.6T+ (Black Box addressable)
  • Enterprise IT Spend: $6.0T+ with $240B-$250B Black Box TAM across DC and Non-DC markets
  • 4 Megatrends Driving Growth: Artificial Intelligence (AI workloads to grow 6x by 2030), Data Centers (2.5x growth in GW capacity over next 5 years), Migration to Cloud (4x growth expected by 2030), 5G Technology
  • India Opportunity: Multi-billion dollar TAM across data center infrastructure build & enterprise IT spend markets

Financial Position

  • Credit Rating: Improved to investment grade BBB+ stable rating
  • Capital Raise: Successful capital raise of `611Cr over last 5 years
  • Balance Sheet: Strengthened with improved credit ratings and healthy ROCE

Technology & Innovation

  • AI Adoption: Enterprise-wide AI platform governed by AI Council, integrated across ERP, HCM, CRM, ITSM, PMIS
  • GenAI Solutions: Incorporating GenAI for automation and predictive insights for enhanced efficiency
  • Future Focus: Developing autonomous agents with human-in-loop across functions

Workforce Development

  • Hiring Plan: Adding ~3,000 professionals by FY30
  • Leadership Team: Strengthened with 17 new senior leaders onboarded
  • Culture: Great Place to Work certified across 8 countries (India, Sweden, Philippines, Singapore, NZ, Brazil, Australia, UAE)
  • Attrition: Reduced to industry average over last 3 years