Saksoft Q1 FY27 Earnings Call: Revenue Flat, Pipeline Strong Amidst Industry Transformation
Saksoft reported Q1 FY27 revenue of ₹249 crore, flat year-on-year. EBITDA was ₹45 crore, with margins at 18.26%. PAT stood at ₹29 crore. The company reiterated its FY27 revenue guidance of ₹1,200-₹1,250 crore. The pipeline is strong at USD 28 million, with growth expected in H2 FY27. Investments in AI are enhancing capabilities and deal sizes.
The flat revenue growth and cautious outlook for Q2 FY27 suggest a moderate impact on immediate investor sentiment. However, the company's strategic focus on AI and its strong pipeline indicate potential for future growth, balancing the short-term impact.
The company reported flat revenue growth in Q1 FY27, reflecting industry-wide demand softness. While the pipeline is strong and future growth is anticipated in the second half of the year, the immediate performance indicates a neutral sentiment.
Saksoft Limited hosted its Q1 FY27 earnings conference call on August 10, 2026, with Chairman and Managing Director Mr. Aditya Krishna and CFO & COO Mr. Niraj Ganeriwal presenting the company's performance and outlook.
Mr. Krishna highlighted that the IT services industry is undergoing significant transformation, with enterprises prioritizing AI, cloud modernization, cybersecurity, data, and automation. Despite macroeconomic uncertainties leading to cautious customer decision-making and demand softness, Saksoft's diversified strategy and focus on AI capabilities are proving resilient. The company is investing in AI accelerators and solutions to enhance customer transformation initiatives and move higher in the value chain. Strategic appointments, including a Chief Growth Officer for Europe and a Business Unit Head for Emerging Verticals, have been made to strengthen organizational capabilities and focus on growth opportunities.
Financially, for Q1 FY27, Saksoft reported revenue from operations at ₹249 crore, remaining largely stable year-on-year. EBITDA stood at ₹45 crore, a marginal 1% decline, with EBITDA margins at 18.26%. Profit After Tax was approximately ₹29 crore, resulting in a PAT margin of 11.78%. The Americas contributed 52% to total revenues, followed by Europe (27%) and Asia Pacific (21%). The onsite and offshore revenue mix was 43% and 57%, respectively. Key verticals include Banking and Financial Services (30%), Emerging Verticals (45%), Transportation and Logistics (16%), and Digital Commerce (9%). The company ended the quarter with 16 clients contributing USD 1 million and above in annual revenues, and a total employee strength of 2,434, with an employee utilization rate of 83% (excluding trainees).
Addressing concerns about the demand environment, Mr. Krishna stated that while Q2 is expected to be muted, the company is hopeful for growth in the second half of the fiscal year. The pipeline remains strong, with the current pipeline value at USD 28 million. The company is deliberately shifting towards managed services and outcome-based deals, which are larger but take longer to materialize. Saksoft is reiterating its revenue guidance for FY27 at ₹1,200 to ₹1,250 crore. Emerging Verticals, BFSI, and Logistics are expected to be the key growth drivers for FY27 onwards, while Digital Commerce faces headwinds.
Regarding AI, Mr. Krishna clarified that the company does not track AI revenue separately as it is integrated into most projects, enhancing efficiency and enabling participation in larger deals. Employee costs are expected to be managed through AI-driven productivity in engineering and managed services, as well as efficiency in support operations, potentially decoupling employee headcount from revenue growth.
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