Aakhir numbers kya bolte hain?
Company ne dikhaya hai ki operations se Total Revenue 22.0% YoY badhkar ₹2,780 Mn ho gaya hai Q3FY26 mein. Agar pichhle quarter se compare karein toh 7.9% QoQ growth hai. Poore FY25 ki baat karein toh revenue 32.3% YoY badhkar ₹8,479 Mn pahunch gaya.
Adjusted EBITDA bhi 22.7% YoY badh kar ₹640 Mn ho gaya hai, aur iska margin 0.1 percentage points sudhar kar 23.0% ho gaya Q3FY26 mein. Poore FY25 mein toh Adjusted EBITDA 47.8% badha hai aur margin 2.5 pp sudhar kar 23.7% ho gaya.
Profit After Tax (PAT) 19.1% YoY badhkar ₹508 Mn hua hai Q3FY26 mein. Magar, PAT margin thoda 0.4 percentage points YoY kam hokar 17.2% par aa gaya hai. FY25 mein PAT 9.4% badha hai, par PAT margin 3.3 percentage points gir gaya hai 18.9% par.
Basic EPS bhi 19.7% YoY badhkar ₹2.43 ho gaya.
Margin pressure ka kya scene hai?
Jab se company list hui hai, tab se revenue toh 2.10x badha hai, CAGR 20.4% raha hai. Lekin, Reported PAT margin lagatar gir raha hai, FY23 mein 26.1% tha jo FY25 mein 18.9% ho gaya. Iska matlab hai ki ya toh operating costs badh rahi hain ya fir company ke services ka mix change ho raha hai.
Ek aur chinta ki baat hai ki 86% revenue sirf top 20 clients se aa raha hai Q3FY26 mein. Yeh thoda risky ho sakta hai agar in bade clients mein se kisi se koi issue ho jaye.
Aage kya?
Company AI capabilities aur data engineering par focus kar rahi hai, Databricks ke saath partnership karke. Isse growth aane ki ummeed hai. Financial Services segment toh 105% YoY zabardast growth dikha raha hai.
Investors ko ab revenue growth ke saath margin recovery par nazar rakhni chahiye. Saath hi, client concentration ka risk kam karne ke efforts bhi important honge.