Workmates Core2Cloud Solution Ltd reported Rs 143 crore revenue for FY26, showcasing a strong 83% four-year CAGR. With 80% of revenue coming from predictable annuity streams and a 95% client retention rate, the company has set an ambitious FY27 revenue target of Rs 190-210 crore. Management has also officially resumed international expansion plans for the US and UK markets, supported by new AI-driven product integrations.
Workmates Core2Cloud FY26 Revenue Hits Rs 143 Crore
Workmates Core2Cloud Solution Ltd reported FY26 revenue of Rs 143 crore, reflecting an 83% four-year CAGR.
The firm forecasts FY27 revenue between Rs 190 crore and Rs 210 crore.
Reader Takeaway: Strong annuity-driven growth and high retention provide stability, while international expansion and AI adoption drive future upside.
What just happened
Workmates Core2Cloud has unveiled its FY26 performance metrics, confirming a revenue base of Rs 143 crore. A key highlight is the company's revenue mix, with 80% coming from annuity streams, ensuring high predictability. The March 2026 exit Monthly Recurring Revenue (MRR) stood at Rs 9.83 crore.
Why this matters
The company’s ability to maintain a 95% client retention rate suggests robust service quality and deep client integration. Management is now pivoting toward aggressive scaling, with a projected revenue trajectory targeting Rs 495-605 crore by FY30. This growth is underpinned by the firm's status as an AWS Premier Partner and its new suite of proprietary AI assets.
Strategic Developments
Management confirmed the resumption of international expansion into the US and UK, markets previously put on hold due to geopolitical and tariff concerns. To support this, the company is establishing a US-based billing office. Furthermore, the company is pushing deeper into AI, with active production tools like SmartOps, AutoFinOps, and VoxoRA, integrating Cloud, Cybersecurity, and AI services.
Risks to watch
Investors should note that the ambitious revenue targets for FY27 through FY30 are base-case management projections. These figures are sensitive to market conditions, with management applying variance bands of ±5% to ±10% to account for execution risks. Success remains heavily tied to the pace of Indian enterprise AI adoption and global regulatory stability regarding tariffs.
What to track next
The primary focus for the next two quarters will be the execution of the US billing office setup and the progress toward the FY27 revenue floor of Rs 190 crore. Investors should also monitor the conversion rates of the new AI product suite within the existing client base.