Financial Performance Highlights

H1 FY27 (April 2026 - September 2026) Financial Results:

  • Revenue from operations: ₹16.81 crores (compared to ₹8.15 crores in H1 FY26, representing 106.22% growth)
  • EBITDA: ₹8.52 crores (compared to ₹4.06 crores in H1 FY26, representing 109.68% growth)
  • EBITDA margin: 50.68%
  • Profit After Tax (PAT): ₹5.02 crores (compared to ₹2.8 crores in H1 FY26, representing 79.36% growth)
  • PAT margin: 29.89%

Business Operations and Metrics

Current Business Statistics:

  • Serving 61 education clients
  • Generating recurring revenue from 28 education customers
  • Collaboration with more than 35 industry customers
  • Generating recurring revenue from 16 industry clients
  • Conducted 76 examinations through company portals
  • Served more than 18 lakh students through examination processes

Team Expansion:

  • Employee count increased from 156 (previous financial year) to 178 currently
  • Expansion focused on sales capability and execution team

Geographic Presence:

  • Operations expanded to more than 10 states across India

Product Development and Strategy

Strategic Transition:

Company is evolving from established SaaS ERP Software Company to AI-enabled technology company with proprietary products creating scalable recurring business opportunities.

Key Product Initiatives:

1. ZeroTouch Patented Secured Examination Paper Solution:

  • Converts traditional question paper management (physical printing, transportation, storage) to complete secured automation
  • Features on-demand and on-site printing with end-to-end workflow management without human touch
  • Currently generating nominal revenue in H1 FY27
  • Expecting good revenues in Q3 FY27 as exams have started from current month
  • Targeting 20-22% revenue contribution from ZeroTouch in next 2 years
  • Expected EBITDA margins of 50-60%+
  • Currently focused on government clients (examination, initiative examination, competitive examination, board exams)
  • Business model: Charging based on volume (number of question papers printed and delivered)

2. AI-enabled Education ERP:

  • Integrated AI-powered ERP platform for educational institutions
  • Covers admission, academic, examination, finance, fees, HR, and more than 30 modules
  • Complete campus management system

3. Industrial ERP with AI-enabled Solutions:

  • Development ongoing for industrial applications

Recent Initiatives and Client Engagements

Gujarat Gyan Guru Quiz (G3Q):

  • Working with Higher Education Government of Gujarat
  • Third season currently running (previous seasons in 2023 and 2024)
  • Season 1: Recorded more than 27 lakh students, received recognition from World Book of Record in London
  • Season 2: Huge response from 9th standard to higher education college and master students
  • Platform supports government educational initiatives with AI-powered learning and student engagement

AI Manthan 2.0 Event:

  • Participated in event organized by Jan Bhavan Uttar Pradesh associated with Chhatrapati Shahu Ji Maharaj's University
  • CEO and Director Mr. Nikunj Gajera presented live demonstration of AI-powered initiatives
  • Received approval to demonstrate ZeroTouch product for examination processes

Capital Expenditure and Investments

Property, Plant and Equipment Additions:

  • Upgrade of ZeroTouch devices based on Q1 demonstration learnings
  • Addition of GPUs for AI model development and in-house experiments
  • Infrastructure capability expansion with servers and physical servers for data model and LLM model development

Depreciation Impact:

  • Depreciation cost: ₹1.72 crores in H1 FY27
  • Increase due to capitalization of products under development in previous financial year (including ZeroTouch)
  • Products now generating revenue and depreciation has commenced

International Expansion Plans

Market Entry Strategy:

  • Phase-wise expansion planned: Gulf areas → Southeast Asia → Europe
  • Initially targeting private clients (schools, colleges, universities) with ERP solutions
  • ZeroTouch international expansion not planned for at least next 1 year
  • Expecting international revenue from current financial year (FY27)
  • Focus on building establishment client base before expanding ZeroTouch internationally

Order Book and Outlook

Current Order Book:

  • ₹78 crores as on 30th September 2026

Business Seasonality:

  • Q3 and Q4 typically better than Q1 and Q2
  • Second half expected to be stronger than first half
  • Pattern consistent over last 5 years

Growth Expectations:

  • Aiming to maintain current growth run rate
  • Pipeline supports maintained growth momentum
  • Margin sustainability expected for upcoming quarters due to planned order book and recurring business model
  • AI implementation helping reduce certain costs

Total Expenses

H1 FY27 Expense Breakdown:

  • Total expenses including depreciation: ₹10.54 crores
  • Depreciation cost: ₹1.72 crores

Participants in Q&A Session

  • Mr. Vaibhav Parekh from Balaji Capital
  • Mr. Meet Gada from OM Enterprises
  • Mr. Piyush, Individual Investor
  • Maitri Shah from Sapphire Capital
  • Mr. Kapil Advani from Aarth Growth Funds
  • Mr. Vishal Patel, Individual Investor