• Event Type: Q2 and H1 FY27 Earnings Conference Call held on November 02, 2026.
  • Management Participants: Mr. Raghunandana Tangirala (Promoter, Chairman and Managing Director), Mr. Amitabh Jaipuria (Senior Executive Director), Mrs. Elizabeth Jacob (Founder and CEO of Athena BPO Pvt Ltd), Mr. Sunil Munshi (CEO of Denave India Pvt Ltd), Ms. Ram Praveen R (Chief Financial Officer), and SGA (Investor Relations Advisor).
  • Financial Period Discussed: Quarter and Half Year Ended September 30, 2026 (Q2 FY27 and H1 FY27).
  • Key Financial Highlights:
  • Q2 FY27 Consolidated Revenue: INR812 crores (up 11% YoY)
  • Q2 FY27 EBITDA: INR43 crores (up 37% YoY) with margin at 5.3% (up 100 bps)
  • Q2 FY27 PAT: INR32 crores (up 62% YoY)
  • H1 FY27 Consolidated Revenue: INR1,577 crores (up 10% YoY)
  • H1 FY27 EBITDA: INR85.5 crores (up 21% YoY) with margin at 5.4% (up 40 bps)
  • H1 FY27 PAT: INR62.4 crores (up 28% YoY)
  • Segment Performance:
  • IFM Q2 Revenue: INR560 crores (up 11% YoY) with EBITDA margin of 4.2%
  • BSS Q2 Revenue: INR267 crores (up 11% YoY) with EBITDA margin of 7.7%
  • Athena Q2 Revenue: INR29 crores with EBITDA margin of 19%
  • Denave Q2 Revenue: INR175 crores (up 17% YoY) with EBITDA margin of 5.6%
  • Matrix Q2 Revenue: INR32 crores (up 2% YoY) with EBITDA margin of 12%
  • Operational Developments:
  • Appointment of Rajeev Bhardwaj as Chief Operating Officer for IFM business
  • Mrs. Jigyasa Sharma appointed as CEO-Designate for subsidiary Matrix from April 1, 2027
  • Denave initiated closure of two step-down subsidiaries (Denave Europe and Denave Korea)
  • ICRA reaffirmed long-term rating at AA- with stable outlook and short-term rating at A1+
  • Business Outlook: Management expressed confidence in delivering sustainable growth with focus on operational efficiencies, technology adoption (AI-enabled solutions), and improving client-level profitability. Headwinds noted in aviation (Global Flight Handling) and some BSS businesses.
  • Balance Sheet Strength: Net cash position of INR404 crores as of September 2026, no long-term borrowings, net debt to equity at negative 0.21x.
  • Compliance Statement: The conference call contained forward-looking statements with appropriate disclaimers. The transcript was submitted pursuant to Regulation 30(6) read with Part A of Schedule III of SEBI LODR Regulations, 2015.

Additional Notes Section

  • The document includes the full transcript of the earnings call with Q&A session.
  • The transcript contains detailed financial data and operational updates as presented by management.