NSE Symbol

BLUSPRING

Nature of the Disclosure

This is an investor presentation for the quarter ended June 30, 2026 (Q1 FY27), submitted to the stock exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Quantitative Figures (Consolidated, excluding foundit)

  • Revenue: ₹930 crore in Q1 FY27, up 20% Year-on-Year (YoY) from ₹777 crore in Q1 FY26 and up 10% Quarter-on-Quarter (QoQ) from ₹846 crore in Q4 FY26.
  • EBITDA: ₹50 crore in Q1 FY27, up 45% YoY. EBITDA margin stood at 5.4%, an increase of 72 basis points (bps) YoY but a decrease of 40 bps QoQ.
  • Profit After Tax (PAT): ₹16 crore in Q1 FY27, up 47% YoY and 14% QoQ. PAT margin was 1.7%.
  • Earnings Per Share (EPS): ₹1.1 for Q1 FY27.
  • Depreciation & Amortisation: ₹10 crore for the quarter.
  • Interest: ₹8 crore for the quarter.
  • Other Income: ₹3 crore for the quarter.
  • There were no Exceptional Items in Q1 FY27.

Segment-wise Financial Performance (Q1 FY27 YoY Growth)

1. Facility & Food: Revenue of ₹520 crore (▲9% YoY); EBITDA of ₹24 crore (▲25% YoY).

2. Security: Revenue of ₹187 crore (▲25% YoY); EBITDA of ₹5 crore (▲43% YoY).

3. Smart Infra, Energy & Engineering: Revenue of ₹223 crore (▲47% YoY); EBITDA of ₹21 crore (▲80% YoY). This segment was renamed from "Telecom and Industrials" effective April 1, 2026. The STEAG acquisition added ₹76 crore in revenue for the quarter. The segment's order book stands at over ₹5,200 crore.

Operational Highlights

  • New Business: 40 new clients mobilised in Facility & Food with an Annual Contract Value (ACV) of ₹89 crore. 37 new clients mobilised in Security with an ACV of ₹43 crore.
  • Workforce: The company has a pan-India workforce of over 97,000.
  • Client Concentration: Top 10 clients contributed 37% of Security revenue and 44% of Facility & Food revenue in Q1 FY27, showing a trend of diversification.

Acquisition of LSG Sky Chefs India

  • Transaction: Bluspring is acquiring 100% of LSG Sky Chefs India Private Limited, a provider of in-flight catering services at Bangalore airport, in an all-cash deal.
  • Enterprise Value: ₹129 crore.
  • Purchase Consideration: ₹166 crore (subject to post-closing adjustments, includes a refundable deposit of ₹47 crore given to BIAL).
  • Target Financials (Bengaluru division): LSG India has an employee strength of ~400+, a capacity of ~15,000 meals per day, and operates with mid-to-high teens EBITDA margins. It has a long-term concession agreement at Bangalore airport until 2039 and serves ~6,000 flights monthly. The company has no debt and had cash of ₹104 crore as of July 31, 2026.
  • Strategic Rationale: Entry into the high-barrier aviation catering sector, access to premium kitchen infrastructure, and elevation of the Bluspring brand.
  • Financial Impact (Pro-forma for FY26): The acquisition is expected to add ~3% to Bluspring's topline, improve consolidated EBITDA margin by 30-35 basis points, and be accretive to Return on Equity (ROE) and EPS.

Forward-Looking Commentary

Management commentary highlighted structural industry tailwinds, including:

  • Consolidation of vendors by clients.
  • An outsourcing shift in facility management.
  • Growth driven by healthcare build-outs, manufacturing push (Make in India, PLI schemes), urbanisation, and commercial real estate absorption.
  • Formalisation of the industry due to GST and labour codes, benefiting compliant, national players like Bluspring.

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