Key Financial Performance - Full Year FY26

Revenue: ₹226 crores, representing 12% year-on-year growth

EBITDA: ₹48 crores, representing 57% year-on-year growth

EBITDA Margin: 21% (compared to 15% in FY25)

Profit After Tax (PAT): ₹24 crores, representing 70% year-on-year growth

PAT Margin: 10.5% (compared to 7% in FY25)

Exceptional Item: One-time charge of ₹2.7 crores towards statutory impact of new Labor Codes

Key Financial Performance - Q4 FY26

Revenue: ₹60 crores

EBITDA: ₹16 crores, representing 3% year-on-year growth

EBITDA Margin: 26.6% (compared to 17.5% in Q4 FY25)

PAT: ₹9 crores, representing 7% year-on-year growth

PAT Margin: 15.1% (compared to 8.7% in Q4 FY25)

Dividend Declaration

The Board of Directors has recommended a final dividend of ₹0.5 per equity share for Financial Year 2025-26, subject to shareholders' approval at the forthcoming Annual General Meeting.

Operational and Business Highlights

Order Book: ₹357.63 crores as of 31st March 2026, providing visibility beyond 24 months with typical contract duration of 3-5 years

Employee Strength: Approximately 1,300 people

Active Projects: Over 180 projects across different industries

Geographic Presence: Operations in 14 countries and 20 states/union territories in India. New geographies added in FY26: Malawi and Cabo Verde

Customer Concentration: 90-95% of revenue historically from repeat customers. Approximately 60% revenue concentration in Odisha, with strategy to reduce this

International Revenue: 5% from overseas subsidiaries in FY26, with expectations for growth

Capital Expenditure and Investments

Intangible Assets: Invested ₹10 crores in assets under development for proprietary products and technology platforms

Property, Plant & Equipment: Invested ₹3.17 crores including AI licenses, new hardware, cloud, and COTS licenses

Working Capital: Invested ₹1.17 crores in work-in-progress to strengthen technology infrastructure

Business Strategy and Focus Areas

Management outlined four key strategic priorities:

1. Continue investing in strengthening technology infrastructure and proprietary products/platforms

2. Enhance capabilities in artificial intelligence, machine learning, and emerging technologies

3. Expand presence across domestic and international markets while deepening existing customer relationships

4. Invest in building highly skilled workforce for complex digital transformation programs

Key Business Verticals

Primary Revenue Contributor: Mining sector (software platforms like i3MS implemented in Jharkhand, Odisha, Chhattisgarh, Bihar, Rajasthan, Kenya)

Other Sectors: Agriculture, education, trade facilitation, healthcare

Notable Clients: Ministry of Agriculture, Ministry of Education, Ministry of Mining, State agencies, PSUs (Steel Authority of India, Gujarat Mining Development Corporation, Odisha Mining Corporation), private companies (JSW, Adani), development organizations (World Bank, Asian Development Bank, African Development Bank, UN organizations)

Q&A Session Key Points

Growth Outlook: Management expressed confidence in long-term opportunities from government digital transformation initiatives globally, particularly in Africa and India

Margin Profile: International project margins are better than domestic, though expenses are also higher

Days Sales Outstanding: Increased from 58 days to 129 days, attributed to normal government billing delays rather than collection stress

AI Strategy: AI serves as both an efficiency driver for internal operations and a solution offering for government AI implementation use cases

Revenue Concentration: Actively working to reduce Odisha concentration through expansion into other states and international markets

Quarterly Revenue Pattern: Typically higher revenues in Q3 and Q4 due to government spending patterns