Company Overview

Ksolves India Limited (Scrip Code: 543599, NSE Symbol: KSOLVES, ISIN: INE0D6I01023) submitted its Investor Presentation for Q2 FY'27 to the National Stock Exchange of India Ltd. and The Bombay Stock Exchange Limited on October 23, 2026, pursuant to Regulation 30 of SEBI Listing Regulations.

Financial Performance

Revenue Performance

  • Consolidated Revenue from Operations stood at ₹37.80 Cr in Q2 FY27, representing a moderation of 8.8% quarter-on-quarter (from ₹41.44 Cr in Q1 FY27) and 4.7% year-on-year (from ₹39.67 Cr in Q2 FY26)
  • H1 FY27 revenue stood at ₹79.24 Cr, up 2.5% YoY from ₹77.34 Cr in H1 FY26
  • The moderation reflects client-specific ramp-downs and cautious technology spending, as indicated last quarter
  • One of the large accounts has started scaling back up, with recovery expected from Q4 FY27

Profitability Metrics

  • Operating Profit (EBITDA) margin at 25.7% in Q2 FY27, within the guided 25-30% band
  • H1 FY27 EBITDA margin at 28.1% (₹22.28 Cr)
  • Q2 FY27 PAT stood at ₹7.25 Cr with PAT margin of 19.2%
  • H1 FY27 PAT grew 10.9% YoY to ₹16.45 Cr, with PAT margin improving 158 bps to 20.8%
  • Earnings Per Share stood at ₹3.05 for Q2 FY27 and ₹6.94 for H1 FY27

Financial Position

  • Strong debt-free balance sheet with ₹17.6 Cr cash and bank balances as of September 30, 2026
  • Other than Capitalization of Right of Use (ROU) assets for office space
  • Second Interim Dividend of ₹1 per share declared, taking total interim dividend for FY27 to ₹5 per share

Revenue Breakdown

Revenue by Business (%):

  • IT Services: 98.4% (H1 FY27) vs 97.4% (H1 FY26)
  • IT Products: 1.6% (H1 FY27) vs 2.6% (H1 FY26)

Revenue by Industry (% - H1 FY27):

  • BFSI: 8% (up from 7% in H1 FY26)
  • Edu Tech: 4% (down from 5%)
  • Healthcare: 5% (up from 4%)
  • Information Technology: 19% (up from 16%)
  • Manufacturing: 6% (stable)
  • Marketing and Advertising: 1% (down from 4%)
  • Real Estate: 3% (stable)
  • Retail: 7% (down from 8%)
  • Services*: 22% (up from 20%)
  • Telecom: 25% (down from 27%)

*Services includes Shipping, Public Safety, Hospitality, Travel, Legal Services, & Consulting

Revenue by Geography (% - H1 FY27):

  • Australia: 4% (stable)
  • Europe: 6% (down from 7%)
  • India: 20% (down from 22%)
  • North America: 59% (down from 60%)
  • Rest of the World: 11% (up from 7%)

Client Concentration & Employee Metrics

  • Top 5 clients: 40% of revenue (down from 42% in H1 FY26)
  • Top 10 clients: 54% of revenue (down from 57%)
  • Total Employees: 495 (down from 553 in H1 FY26)
  • LTM Attrition %: 16% (up from 15%)

Business Updates & Strategic Developments

AI Capabilities & Achievements

  • 100% AI Enabled Team with Claude Certified In-house AI Centre of Excellence (CoE)
  • AI embedded across all deliveries with CCAF Claude Architect - Foundation Certificates in progress
  • Four AI-embedded clients contributed ~USD 1.4 Mn in Q2 FY27, about one-third of quarterly revenue
  • Became Select Partner in both Anthropic's Claude Partner Network and OpenAI Partner Network
  • AI & GenAI Agents in Production: 100+
  • AI-Driven Projects Delivered: 100+
  • ~500 Claude Certified Ksolvers (Forward Deployed Engineers)

New Client Wins - Q2 FY27

1. South American Commercial Bank: Agentic AI Solution alongside multiple Salesforce projects

2. Global Ports Arm of Fortune Global 500 Conglomerate: One-year Salesforce Support & AMC engagement

3. Tier-1 African Commercial Bank: 24×7 enterprise Informatica support contract

4. European Public Development Bank: Three-year enterprise Hadoop support contract with 24×7 coverage

5. Australian Public Research University: Data engineering team support

6. US-based Salesforce ISV: Salesforce Agentforce (Agentic AI) project

7. US Communications-Trust Technology Company: Salesforce and MuleSoft platform work

8. UK-based Nonprofit: Salesforce CRM implementation and support

Company Accreditations & Awards

  • Dun & Bradstreet India's leading SMEs 2026, 2024 & Business Enterprises of Tomorrow 2023
  • NASSCOM Excellence in AI Services Award 2024
  • Best ERP Implementation Partner (Odoo) India 2025
  • Indian MSME of the Year 2023 Award by Economic Times
  • Nasscom Impact Award for Growth Leadership in Tech Products & Platform - B2B
  • Great Companies - SME Business Award 2022
  • 2024 Deloitte India Technology Fast 50 organization
  • Prestigious 07 Industry Awards
  • Global 10+ Accreditations

Management Team

Key Leadership

  • Ratan Srivastava: Chairman & Managing Director, 20+ years experience (Tech Mahindra, Birlasoft, HSBC, Persistent Systems), B.Tech Computer Science
  • Manish Gurnani: Chief Technology Officer, 22+ years experience (Tech Mahindra, Bank of America), PGDM Finance IIM Lucknow, B.Tech
  • Umang Soni: Chief Financial Officer, 10+ years experience, CA and IIM Merit Holder, PGPFM IIM Tiruchirappalli
  • Deepali Verma: Whole Time Director, 15+ years experience, Master of Commerce
  • Manisha Kide: Company Secretary and Compliance Officer, 11+ years experience (TCNS Clothing-W Brands, PSR Associates), CS, B.Com-LL.B, MBA-Finance

Other Key Personnel

  • Ramesh Shinde: Delivery Head, 20+ years experience (Persistent Systems), B.Tech
  • Technology Head: 13+ years experience, B.Tech Computer Science
  • Delivery Head: 12+ years experience, B.Tech
  • CA. Darpan Audichya: Head of Business Transformation, 14+ years experience (TCS, EY, KPMG), CA, CS, M.Com
  • Kirti Sharma: Head – Business Development, 10+ years experience, BA, Masters in Sociology
  • Project Manager: 13+ years experience (HCL Technologies), B.E.
  • Senior Technical Lead (Salesforce): 11+ years experience, B.Tech IT

Case Studies & Client Impact

South American Bank - Agentic AI Implementation

  • Industry: Banking & Financial Services
  • Solution: Multi-channel AI banking agents with LangGraph orchestration, 40-tool registry, MFA integration
  • Results: 24/7 AI-led support, seconds response time (down from hours), 70% queries targeted for auto-resolution

North American Utility Provider - Field Service AI

  • Results: 3x faster work-order creation, 60% less manual triage effort, 14% helpdesk accuracy improvement vs RAG-only

Fortune Global 500 Telecom Company - Agentic Workflow Platform

  • Results: 70% faster design-to-code handoff, 40% fewer defects reaching production, 150 agent workflows auto-generated

US HR-tech SaaS Provider - AI-led Modernization

  • Results: 8 vs 15 months to deliver planned scope, 145 screens migrated with zero disruption, 8 AI agents with 10 skills and 32 review rules

Additional case studies covered telecommunications workflow transformation, network anomaly automation, enterprise AI strategy development, Odoo ERP implementation, and real-time payments enablement

Investment Rationale Highlights

  • 42% revenue CAGR (FY21–FY26) with strong EBITDA and PAT margins of 29.7% and 21.1% respectively
  • High ROCE of 152% and ROE of 137%
  • Consistent dividend payout since listing (6 years)
  • Serves clients across 30+ countries with diversified customer base