Event Type: Q1 FY27 Earnings Conference Call held on August 18, 2026. The call was moderated by Antique Stock Broking Limited.
Management Participants: Mr. Alexander David (Whole-Time Director), Mr. T.V. Venkataramanan (Chief Financial Officer), and Mr. Muthuraman Natarajan (Director (Advisor) Strategy & Investor Relations). The Chairman & Managing Director was absent due to illness.
Financial Period Discussed: Un-audited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026 (Q1 FY27).
Key Financial & Operational Highlights:
Standalone revenue grew 7% year-over-year (YoY), driven by the commencement of a large mandate with IDBI Bank and growth in cash van operations.
The E-commerce Logistics segment decline was arrested, reporting positive growth.
Total cash handled was ₹0.43 trillion, a growth of 2.3% YoY.
Gross cash losses were ₹2.06 million (0.0005% of cash handled), one of the lowest on record.
Standalone EBITDA margin contracted to 13.5% from 15.9% YoY, primarily due to increased manpower costs, gunmen costs, and higher minimum wages in certain states.
Consolidated PAT was ₹52 million, down from ₹57 million YoY.
The company has sought significant price revisions from all customers, expecting them to materialize in Q2 FY27.
Working capital improved, with debtors reducing to 65 days' revenue from 70 days in the previous quarter.
Cash balance was healthy at ₹2.1 billion as of June 30, 2026, with free cash of ₹644 million.
Subsidiary Performance:
Radiant Valuable Logistics (RVL): Reported revenues of ₹22.1 million, a sequential growth of 24% over Q4 FY26. It is expected to reach EBITDA breakeven in the current quarter (Q2 FY27).
Radiant Acemoney (Fintech Subsidiary): Narrowed its losses. It has a network of over 20,000 Business Correspondents (BCs), has cumulatively deployed over 58,000 Soundboxes, and facilitated a transaction volume of ₹170 crores in Q1 FY27. It is targeting the deployment of 50,000 Soundboxes in FY27 and expects to turn EBITDA positive in Q3 FY27. Its revenue streams include Soundbox deployments, white-label UPI solutions, and Fintech software for smaller banks/NBFCs.
Guidance & Outlook:
Management expects double-digit revenue growth for FY27.
Standalone EBITDA margin is projected to reach 17-18% for FY27 after factoring in price revisions.
For FY28, consolidated EBITDA margin is projected to be 19-20% with mid-teens revenue growth.
Acemoney is expected to contribute meaningfully to profitability in FY27.
Regulatory Update: The application for a Payment Aggregator (PA) license is being resubmitted to the RBI by early September 2026 after addressing queries. The license is expected by January-February 2027, with business commencement planned for the next financial year (FY28).
Capital Allocation: Management acknowledged investor feedback on considering a buyback and will bring it up for discussion in the upcoming board meeting.
Compliance: The transcript was filed pursuant to Regulation 30 and 46(2) of the SEBI (LODR) Regulations, 2015. The document itself is a record of the call and does not contain new unpublished price sensitive information (UPSI).
Additional Notes Section
The document provided is the full transcript of the earnings conference call.
No new financial data was disclosed in this specific filing; it is a transcript of the call where Q1 results were discussed.
