R Systems International Limited disclosed its financial results for the quarter and nine months ended September 30, 2026, in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance - Quarter Ended September 30, 2026

Consolidated Results:

  • Revenue: ₹6,152 million (US$64.4 million), representing year-over-year (YoY) growth of 23.4% in INR terms and 12.5% in US$ terms
  • Adjusted EBITDA: ₹1,244 million (US$13.0 million), representing 20.2% margin compared to 16.9% in Q3 2025, with YoY growth of 47.4%
  • Adjusted Net Profit After Taxes: ₹665 million (US$6.9 million), representing YoY growth of 53.1%
  • Basic Earnings Per Share: ₹5.42 (not annualized)
  • Diluted Earnings Per Share: ₹5.18 (not annualized)
  • Adjusted Basic EPS excluding RSUs expense and non-recurring items net of tax: ₹5.61

Detailed P&L (Quarter):

  • Total Income: ₹6,177.80 million
  • Employee Benefits Expense: ₹3,611.03 million (including RSU expense of ₹32.25 million)
  • Finance Costs: ₹95.81 million
  • Depreciation and Amortization: ₹229.17 million
  • Other Expenses: ₹1,361.26 million
  • Profit Before Tax: ₹880.53 million
  • Tax Expense: ₹238.70 million (Current tax: ₹260.29 million, Deferred tax credit: ₹(21.59) million)
  • Net Profit: ₹641.83 million

Financial Performance - Nine Months Ended September 30, 2026

Consolidated Results:

  • Revenue: ₹17,917 million (US$190.7 million), representing YoY growth of 27.7% in INR terms and 17.5% in US$ terms
  • Adjusted EBITDA: ₹3,609 million (US$38.4 million), representing 20.1% margin compared to 17.2% in the same period last year, with YoY growth of 49.7%
  • Adjusted Net Profit After Taxes: ₹2,051 million (US$21.8 million), representing YoY growth of 54.0%
  • Basic Earnings Per Share: ₹15.63 (not annualized)
  • Diluted Earnings Per Share: ₹14.96 (not annualized)
  • Adjusted Basic EPS excluding RSUs expense and non-recurring items net of tax: ₹17.31

Detailed P&L (Nine Months):

  • Total Income: ₹18,088.52 million
  • Employee Benefits Expense: ₹10,870.06 million (including RSU expense of ₹158.76 million)
  • Finance Costs: ₹286.48 million
  • Depreciation and Amortization: ₹664.63 million
  • Other Expenses: ₹3,685.42 million
  • Profit Before Tax: ₹2,581.93 million
  • Tax Expense: ₹730.26 million (Current tax: ₹706.85 million, Deferred tax charge: ₹23.41 million)
  • Net Profit: ₹1,851.67 million

Management Commentary

Nitesh Bansal, Managing Director & CEO: Highlighted increased enterprise demand for engineering-led transformation as companies move from AI experimentation to scaled adoption. The company's focus on building scaled enterprise-grade AI solutions using EXIQO (their AI studio) and reusable industry templates is helping clients achieve measurable business outcomes.

Nand Sardana, Chief Financial Officer: Emphasized disciplined execution and careful balancing of investments with revenue realization. The company delivered profitable growth with Adjusted EBITDA margin of 20.2% while revenue increased 12.5% YoY in US$ terms.

Dividend Declaration

The Board declared an interim dividend of ₹8 per share (800% of face value) in Q3 2026, which has been subsequently paid, reflecting confidence in the company's sustained earnings trajectory and robust cash generation.

Key Deal Wins

The company secured several significant contracts:

  • European telecommunications operator: Modernization of mission-critical telecom services for next-generation network transformation
  • Global management consulting firm: Enterprise-scale Data Lakehouse for Middle East digital transformation in housing and real estate
  • Saudi financial services provider: Advancement of Newgen-based core lending platform through digital transformation services
  • Global entertainment company: Strategic Salesforce engagement to transform commercial and customer-facing operations
  • Multinational insurer: Modernization of enterprise payment operations through host-to-host bank connectivity solution

Liquidity and Balance Sheet Position

  • Cash and bank balances, net of short-term borrowing and amount set aside for dividend: ₹3,487 million as of September 30, 2026 (compared to ₹2,726 million as of December 31, 2025)
  • Total equity attributable to shareholders: ₹10,779 million as of September 30, 2026 (compared to ₹10,323 million as of December 31, 2025)
  • Total assets: ₹22,292.90 million as of September 30, 2026 (compared to ₹21,021.85 million as of December 31, 2025)

Operational Metrics

Revenue by Verticals (Q3 2026):

  • Technology, Internet, Platforms & Services (TIPS): 41.12%
  • Banking, Finance & Insurance (BFSI): 21.40%
  • Telecom, Media & Entertainment (TME): 15.67%
  • Health: 10.93%
  • Manufacturing & Logistics (M&L): 10.88%

Revenue by Geographies (Q3 2026):

  • Americas: 70.60%
  • APAC: 16.03%
  • Europe: 9.41%
  • MEA: 3.96%

Client Concentration (Q3 2026):

  • Top 10 Clients: 24.44%
  • Top 5 Clients: 16.78%
  • Top 3 Clients: 11.87%
  • Largest Client: 5.81%

Utilization Rates (Q3 2026):

  • Onsite: 96.90%
  • Offshore: 79.79%
  • Blended: 82.16%

Human Resources (as of September 30, 2026):

  • Total count: 5,172 employees
  • Technical: 4,647
  • Support: 525
  • Trainees: 33

Accounting Treatment

Effective January 1, 2026, the company designated certain foreign currency forward contracts as cash flow hedges under Ind AS 109. The effective portion of changes in fair value has been recognized in the Hedge Reserve under equity and will be reclassified to profit and loss when the corresponding hedged transactions occur.