Seshaasai Technologies Limited submitted an investor presentation for Q1FY27 to BSE Limited and National Stock Exchange of India Limited pursuant to Regulation 30 of SEBI Listing Regulations.

Financial Performance Q1FY27 (Figures in INR Million)

Year-over-Year Comparison (Q1FY27 vs Q1FY26):

  • Revenue from Operations: ₹3,764.7 Mn vs ₹3,108.7 Mn (+21.1% YoY)
  • Other Income: ₹71.0 Mn vs ₹23.4 Mn (+203.0% YoY)
  • Total Income: ₹3,835.7 Mn vs ₹3,132.2 Mn (+22.5% YoY)
  • Cost of Materials Consumed: ₹2,196.4 Mn vs ₹1,724.7 Mn (+27.3% YoY)
  • Employee Cost: ₹175.4 Mn vs ₹149.8 Mn (+17.1% YoY)
  • Other Expenses: ₹519.8 Mn vs ₹520.1 Mn (-0.1% YoY)
  • Depreciation: ₹107.8 Mn vs ₹110.2 Mn (-2.2% YoY)
  • Finance Cost: ₹18.4 Mn vs ₹77.6 Mn (-76.2% YoY)
  • PBT: ₹817.9 Mn vs ₹549.7 Mn (+48.8% YoY)
  • Tax: ₹215.0 Mn vs ₹181.4 Mn (+18.6% YoY)
  • PAT attributable to Equity Shareholders: ₹603.4 Mn vs ₹368.4 Mn (+63.8% YoY)

Quarter-over-Quarter Comparison (Q1FY27 vs Q4FY26):

  • Revenue from Operations: ₹3,764.7 Mn vs ₹4,041.8 Mn (-6.9% QoQ)
  • Other Income: ₹71.0 Mn vs ₹60.7 Mn (+17.0% QoQ)
  • Total Income: ₹3,835.7 Mn vs ₹4,102.4 Mn (-6.5% QoQ)
  • Cost of Materials Consumed: ₹2,196.4 Mn vs ₹2,145.2 Mn (+2.4% QoQ)
  • Employee Cost: ₹175.4 Mn vs ₹193.4 Mn (-9.4% QoQ)
  • Other Expenses: ₹519.8 Mn vs ₹518.8 Mn (+0.2% QoQ)
  • Depreciation: ₹107.8 Mn vs ₹97.5 Mn (+10.6% QoQ)
  • Finance Cost: ₹18.4 Mn vs ₹29.1 Mn (-36.6% QoQ)
  • PBT: ₹817.9 Mn vs ₹1,118.6 Mn (-26.9% QoQ)
  • Tax: ₹215.0 Mn vs ₹299.9 Mn (-28.3% QoQ)
  • PAT attributable to Equity Shareholders: ₹603.4 Mn vs ₹817.9 Mn (-26.2% QoQ)

Operational Highlights

Payment Solutions Segment:

  • Retained wallet share with top 10 customers which contributed 73% of Q1FY27 revenue (vs 81.35% in Q1FY26)
  • Added 3 new accounts in payment cards across Banks and FinTechs
  • Won 1 multi-year tender in Q1FY27
  • Commenced payment card exports to Europe & Africa
  • Holds 31.9% market share for credit and debit card issuance in India in FY25

Communication & Fulfilment Solutions (CFS):

  • Top 10 customers contributed 77.16% of revenue for Q1FY27 (vs 81.60% in Q1FY26)
  • Added 4 new enterprise accounts in Q1FY27
  • Won 2 multi-year tenders from PSU banks during Q1FY27

IoT Solutions:

  • Business volumes for one of the largest Indian retailers ramped up and stabilized
  • Added 13 new accounts in Q1FY27 across industries
  • Increased capacity across existing locations for RFID tag offerings
  • SIM card volumes continue to build up contribution to overall revenue

Management Commentary

  • Gross margin moderated to 41.7% in Q1FY27 from 44.5% in Q1FY26, impacted by higher raw material prices, currency depreciation, and elevated logistics costs arising from the West Asia conflict
  • Management continues to focus on enhancing supply-chain agility through diversified sourcing and strategic inventory management
  • Employee cost increase due to higher headcount and annual increments
  • Other expenses as percentage of revenue reduced to 13.8% from 16.7% in Q1FY26, reflecting improved operating leverage
  • Finance costs declined following debt repayment post-IPO
  • PAT margin improved to 16.0% from 11.9% in Q1FY26
  • Q4 has historically been the Company's strongest quarter in terms of revenue

IPO Funds Utilization (as of June 30, 2026)

| Purpose | Amount as per Offer Document (₹ Mn) | Utilized During Quarter (₹ Mn) | Cumulative Utilized (₹ Mn) | Unutilized Amount (₹ Mn) |

| Capex | 1,979.1 | 67.7 | 618.2 | 1,361.0 |

| Repayment of Borrowings | 3,000.0 | - | 3,000.0 | - |

| Issue Expenses | 350.6 | 39.1 | 332.1 | 18.5 |

| General corporate purposes | 670.3 | 137.3 | 348.9 | 321.3 |

| Total | 6,000.0 | 244.0 | 4,299.2 | 1,700.8 |

Balance Sheet Position

As of June 30, 2026, the company had cash and cash equivalents of approximately ₹3,690 Mn, including unutilized IPO funds of approximately ₹1,700.8 Mn.

Company Background

Seshaasai Technologies operates across three business segments: Payment Solutions, Communication & Fulfilment Solutions, and IoT Solutions. The company has 24 self-sustaining manufacturing units and 1,057 total customers (including 263 new) as of June 30, 2026. Average customer relationship with 8 of top 10 customers exceeds 10 years.

Proprietary Technology Platforms

The company highlighted four proprietary technology platforms:

1. izeIoT - proprietary IoT platform for traceability and analytics

2. RUBIC - data processing engine for multiple industries

3. eTaTrak - AI-powered logistics and deliverables management platform

4. IOMS - Integrated Output Management System for high-volume communications

Key Management

  • Pragnyat Pravin Lalwani: Chairman & Managing Director (33+ years experience)
  • Gautam Sampatraj Jain: Whole-time Director (33+ years experience)
  • Manali Siddharth Shah: Company Secretary and Compliance Officer