eMudhra reports strong Q2 FY26 results with 22.6% YoY revenue growth and healthy margins
eMudhra Limited reported strong Q2 FY26 consolidated results with 22.6% YoY revenue growth, healthy EBITDA margins, and increased PAT, driven by client wins and strategic acquisitions.
The announcement details robust financial results, strategic acquisitions like AI Cyber Forge Inc. and Cryptas, and significant project wins across various geographies. These factors collectively indicate strong business momentum and potential for sustained growth, which are highly impactful for the company's future prospects.
The company reported strong financial performance with significant year-on-year growth in revenue, EBITDA, and PAT. Management commentary is optimistic, citing new client wins, successful acquisitions contributing to revenue, and ongoing innovation and market expansion efforts.
* eMudhra Limited announced its consolidated financial results for the second quarter and half year ended September 30, 2025. * For Q2 FY26, revenue from operations stood at ₹1,749.5 million (₹174.95 crore), marking a 22.6% year-on-year increase. * EBITDA for the quarter was ₹433.3 million (₹43.33 crore), with an EBITDA margin of 24.8%, a 28.1% rise from the previous year. * Profit After Tax (PAT) reached ₹264.4 million (₹26.44 crore), representing a PAT margin of 15.1% and an 18.6% year-on-year growth. * Basic Earnings Per Share (EPS) for Q2 FY26 was ₹3.09, an increase of 14.4% year-on-year. * The PAT included a loss of ₹15.6 million (₹1.56 crore) from Cryptas, which was acquired effective July 1, 2025, and is expected to become profitable within the next two quarters. * For the half year (H1 FY26), revenue from operations was ₹3,255.7 million (₹325.57 crore), up 37.0% year-on-year. * H1 FY26 EBITDA was ₹813.2 million (₹81.32 crore), a 28.5% year-on-year increase, and PAT was ₹514.7 million (₹51.47 crore), up 27.1% year-on-year. * V. Srinivasan, Executive Chairman, stated that the strong quarter was driven by robust revenue growth and new client wins across the US, Middle East, India, and Asia Pacific, with Europe revenue contributing from the Cryptas acquisition. He highlighted the expansion of emSigner in regulated industries and the growing use of Securepass and Certinext for identity management. He also mentioned the recent acquisition of Key and Secrets Management solution complementing their cybersecurity portfolio and ongoing R&D in Converged Identity, Data Privacy, and Generative AI. * Key metrics show Enterprise Revenue split between India and International at 36:64, Partner and Direct at 39:61, and Cyber Security and Paperless segments at 62:38. * The company secured several key project wins, including CertiNext implementation in North America, emCA for a Malaysian government project, Certificate Lifecycle Management rollout in UAE, and continued acquisition of BFSI clients in India for various solutions. * Other business highlights include the completion of the acquisition of AI Cyber Forge Inc. in the US to strengthen its cybersecurity solutions, and strengthening products for the European market in association with the Cryptas Team.
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