eMudhra Q3 FY26: Revenue Jumps 35.6% YoY to ₹1,911 Mn, Adj. EBITDA Up 44.2%
eMudhra reported Q3 FY26 revenue of ₹1,911 Mn, up 35.6% YoY. Adjusted EBITDA rose 44.2% to ₹492.6 Mn, with margins at 25.8%. Adjusted PAT increased 37.6% to ₹334.2 Mn. The company also highlighted international growth and new project wins.
The substantial year-on-year growth in key financial metrics like revenue and adjusted EBITDA, coupled with strategic business updates and international expansion, is likely to have a significant positive impact on investor sentiment and the company's valuation.
The company reported strong year-on-year growth in revenue and profits, along with significant increases in adjusted EBITDA, indicating a positive financial performance.
eMudhra Limited announced its financial results for the quarter and nine months ended December 31, 2025. The company reported a strong performance with Total Income reaching ₹1,911 Mn, a 35.6% year-on-year increase from ₹1,408.9 Mn in Q3 FY25.
Adjusted EBITDA saw a significant surge of 44.2% YoY to ₹492.6 Mn, compared to ₹341.5 Mn in the same period last year, with Adjusted EBITDA margins at 25.8%. Adjusted Net Profits grew by 37.6% YoY to ₹334.2 Mn. The company's revenue from operations for the nine months ended December 31, 2025, stood at ₹5,082 Mn, marking a 36.5% increase over the previous year.
The company highlighted that EBITDA and PAT margins were impacted by a partner stock buyback in the Indian trust services business to the extent of ₹33.6 Mn. Adjusted margin figures accounted for various provisions and expenses, including ESOP provisioning (₹26.47 Mn), notional interest expenses (₹7.90 Mn), acquisition legal expenses (₹9.79 Mn), and legal change gratuity/leave provisions (₹14.92 Mn).
eMudhra also detailed key business wins and highlights, including certificate lifecycle management wins in the USA and Europe, an eSignature workflow rollout in Oman, and significant traction in eSign & eStamping in India. The company's US data centers are now live, and integration of its Cryptas product is expected to accelerate European market entry. eMudhra is also establishing a UAE data center to support local compliance and expand engagements.
The investor presentation was shared on February 3, 2026, in conjunction with an earnings call scheduled for the same day.
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