Persistent Systems Limited held one-on-one institutional investor sessions on Tuesday, September 22, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meetings were scheduled with six major mutual funds throughout the day in IST timezone:
- DSP Mutual Fund at 9:00 AM
- Bandhan Mutual Fund at 10:30 AM
- SBI Pension Funds at 12:00 PM
- Mirae Mutual Fund at 2:00 PM
- Kotak Mutual Fund at 3:30 PM
- Baroda BNP Paribas Mutual Fund at 5:00 PM
During these sessions, the company reiterated the information contained in the Investor Presentation submitted to the stock exchanges on September 19, 2026, under Ref No. NSE & BSE / 2026-27 / 126. The company explicitly stated that no unpublished price sensitive information was shared or discussed during these sessions.
The investor presentation included Q1 FY27 financial highlights:
- Revenue: $452.4M with 16.0% YoY growth
- EBIT Margin: 11.2%
- PAT Margin: Not specified in percentage but mentioned +13.7% YoY growth
- Employee count: 28,640 as of June 30, 2026
The presentation highlighted that Persistent is the only publicly listed Indian IT services company to have delivered 25 consecutive quarters of sequential revenue growth since FY2021, with Q1 FY27 showing 3.76% QoQ growth and 16.07% YoY growth, significantly outperforming Indian IT peers who averaged 0.52% QoQ and 3.44% YoY growth.
A major strategic announcement was the acquisition of Nagarro SE, a €1 billion digital engineering business. Transaction details:
- Enterprise Value: €1.27B at €81 per share in cash
- Premium of ~140% to undisturbed closing price on June 25, 2026
- Valuation: 1.27X EV/CY25A Revenue; 9.19X EV/CY25A Adjusted EBITDA
- Persistent has already secured ~21% stake via share purchase agreement
- Minimum acceptance threshold for open offer: 50% + 1 share
Nagarro brings 18,003 professionals across 38 countries, with strong European presence and capabilities in automotive, manufacturing, industrial, retail, CPG, financial services, and insurance sectors.
Management participants included:
- Vinit Teredesai - Executive Director & Chief Executive Officer
- Sandeep Kalra - Executive Director & Chief Financial Officer
- Saurabh Dwivedi - Corporate Vice President, Finance & Strategy
- Rahul Ravi - Deputy General Manager, Corporate Development
Additional Notes Section
The document included the full investor presentation as an attachment. The presentation contained extensive forward-looking statements and cautionary disclosures about the Nagarro acquisition, noting that completion remains subject to regulatory, shareholder, and other third-party approvals.
The presentation also included historical FX rates for INR/USD conversion, with Q1 FY27 weighted exchange rate at 95.12 and FY26 annual rate at 89.15.
No specific financial guidance or outlook was provided beyond the reported Q1 FY27 results and the strategic rationale for the Nagarro acquisition.