Seshaasai Technologies releases Q2 FY26 Earnings Conference Call Transcript; Reports Q2 revenue of ₹352 crore
Seshaasai Technologies released its Q2 FY26 earnings call transcript. Q2 revenue grew 13% Q-o-Q to ₹352 crore, with an EBITDA margin of 26.9%. H1 revenue was ₹663 crore, down 12% Y-o-Y. Management expects H2 to be stronger.
The announcement provides detailed financial results for Q2 and H1 FY26, along with strategic business updates across all verticals. The positive outlook for H2 and the debt repayment are significant for investors, but the H1 year-on-year revenue decline in the largest segment tempers the immediate positive impact.
The company reported sequential revenue growth in Q2 FY26 and an improved EBITDA margin. While H1 revenue was down year-on-year, management provided a positive outlook for H2 FY26, citing seasonal pickups, new projects, and growth in the IoT segment. The repayment of debt from IPO proceeds is also a positive financial development.
* Seshaasai Technologies Limited has released the transcript of its Q2 FY26 Earnings Conference Call, held on November 12, 2025. The transcript is available on the company's website. * Key management present during the call included Mr. Pragnyat Lalwani, Chairman and Managing Director, and Mr. Pavan Kumar, Chief Financial Officer. * Q2 FY26 Financial Highlights: (Quarter-on-Quarter) * Total revenue stood at ₹352 crore, marking a 13% increase Q-o-Q. * EBITDA was ₹95 crore, with an EBITDA margin of 26.9%, an improvement of 336 basis points sequentially. * PAT margin was 16.3%. * Revenue mix: Payment Solutions contributed 51%, Communication and Fulfillment 38%, and IoT Solutions 11%. * Over 98% of revenues came from existing clients, with the top 10 customers accounting for 63.5%. * H1 FY26 Financial Highlights: (Year-on-Year) * Total revenue was ₹663 crore, down 12% Y-o-Y. * EBITDA came in at ₹169 crore, with an EBITDA margin of 25.3%, an improvement of 54 basis points Y-o-Y. * PAT stood at ₹94 crore, a fall of 10.5% Y-o-Y. * As of September 30, 2025, the company had a cash balance of approximately ₹564 crore, including IPO proceeds. A debt of ₹300 crore was repaid in October 2025, with interest cost savings expected from Q3 FY26 onwards. * Business Segment Updates: * Payment Solutions: Contributed 50% to H1 FY26 revenue. Experienced moderation due to lower card issuance volumes (PMJDY, unsecured retail lending, COVID-19 renewals) and macroeconomic factors. The company expects H2 FY26 to be stronger due to seasonal pickup and new initiatives like financial inclusion programs, mass transit cards, and eco-friendly/metal cards. * Communication and Fulfillment: Contributed 40% to H1 FY26 revenue. This vertical was a significant growth driver, supported by demand for personalized and compliant communication, and increased contributions from government projects. * IoT Solutions: Contributed 10% to H1 FY26 revenue. This fastest-growing vertical saw strong growth of 31% to ₹65.4 crore in H1 FY26 (vs. ₹50 crore in H1 FY25), driven by wallet share gains in renewable segments and new customer additions. SIM card supplies to telecom operators are expected to begin in H2 FY26. The company is investing in next-generation IoT technologies like Bluetooth Low Energy (BLE) and sensor-based RFID. * Management Outlook: The management expects H2 FY26 to be better than H1, supported by seasonal pickup in BFSI volumes, steady momentum in communication fulfillment, and continued traction in the IoT business. Gross margins improved due to a favorable product mix, operational efficiencies, and procurement initiatives. * The company holds two granted patents and has 13 patent applications pending, reflecting its commitment to innovation.
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Seshaasai Technologies Limited filed this with the NSE as a statutory disclosure, categorised under concall transcript released. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Seshaasai Technologies Limited. Read the original for the full detail.