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NIIT Learning Systems (NIITMTS) investor relations material
NIIT Learning Systems Q2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 25/26 earnings summary6 Nov, 2025
Executive summary
Q2 FY26 revenue grew 20% year-on-year and 5% quarter-on-quarter to INR 4,757 million, validating the AI-first strategy and recognized for AI leadership in learning.
AI-enabled revenues now represent 10% of total business, with industry analysts noting leadership in this area.
Acquisition of MST Group in Germany completed in July 2025, adding seven marquee clients, 84 employees, and strengthening presence in the DACH region and industrial verticals.
Profit after tax for Q2 FY26 was INR 470 million, with EPS at INR 3.43.
Revenue visibility increased to $409 million, up from $388 million last quarter and $368 million a year ago.
Financial highlights
Q2 revenue: INR 4,757 million, up 20% year-on-year and 5% quarter-on-quarter; constant currency growth at 15% year-on-year and 3% quarter-on-quarter.
EBITDA: INR 966 million, up 2% quarter-on-quarter, with EBITDA margin at 20%-20.3%, down 324 bps year-on-year.
PAT: INR 470 million; EPS: INR 3.43, down from INR 3.62 in the previous quarter.
Operating cash flow: INR 777 million; free cash flow: INR 677 million; net cash position: INR 5,917 million.
DSO at 66 days; cash and cash equivalents at INR 8,079 million; CapEx for the quarter at INR 99 million.
Net other income was negative INR 89 million, impacted by lower treasury income, acquisition-related expenses, and forex losses.
Outlook and guidance
Q3 constant currency growth expected at 2%-3% quarter-on-quarter; full-year constant currency growth expected at 12.5%-13% year-on-year, with organic growth guidance retained at 10%+.
Margins expected in the 20%-21% range for both Q3 and full year.
Robust contract pipeline and continued investments in AI, consulting, and sales/marketing to drive future growth.
Global growth is expected to slow, with IMF projecting a decline from 3.3% in 2024 to 3.1% in 2026.
Clients are focusing on cost efficiency, automation, and compliance amid macro uncertainty.
MST acquisition's net impact on Q2 profitability?
What drove Q2 consolidated PAT decline?
Reasons for H1 operating cash flow decrease?
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Next NIIT Learning Systems earnings date
Q3 25/2621 Jan, 2026
Next NIIT Learning Systems earnings date
Q3 25/2621 Jan, 2026
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Frequently asked questions
NIIT Learning Systems Limited (NIIT MTS) specializes in managed training services. It primarily offers comprehensive learning solutions tailored for Fortune 1000 and Global 500 corporations across North America and Europe. The company's services include custom content and curriculum design, learning delivery, administration, strategic sourcing, learning technology, and consulting. NIIT MTS also provides specialized solutions such as immersive learning, customer education, talent pipeline services, diversity, equity, and inclusion training, digital transformation, and IT training, along with leadership and professional development programs. The company is headquartered in Gurugram, Haryana, India, and its shares are listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE).
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