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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
NIIT Learning Systems
NIIT Learning Systems (NIITMTS) investor relations material
NIIT Learning Systems Q2 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 26/27 earnings summary29 Oct, 2026
Executive summary
Q2 FY27 revenue was INR 5,285.76m, up 11% YoY, but constant-currency growth of 2.3% missed 9%–11% guidance; EBITDA was INR 874m and PAT was INR 373.13m.
Revenue visibility reached a record USD 510m, up 25% YoY, across 116 annuity clients; management expects new contracts to ramp in H2, with most acceleration in Q4.
AI-led Transform & Operate remains a strategic focus, supported by AI learning solutions, consulting assignments and the Bluewater Learning acquisition.
Financial highlights
Q2 net revenue was INR 5,285.76m, up 11% YoY and down 6% QoQ; constant-currency growth was 2.3% YoY, or 6.6% excluding the prior-year North American real estate training contract.
EBITDA was INR 874m, down 10% YoY; margin was 16.5%, below the roughly 18% Q2 guidance.
Profit before tax was INR 510.08m and PAT was INR 373.13m, down 26% and 21% YoY, respectively; basic EPS was INR 2.70.
H1 FY27 revenue was INR 10,936.57m and PAT was INR 947.24m; prior-year comparisons are affected by acquisitions completed during FY26.
Outlook and guidance
FY constant-currency growth guidance remains high single digits, with potential for double-digit growth including Bluewater; FY EBITDA margin guidance is around 18%.
New contracts are expected to ramp in H2, with most YoY acceleration in Q4; macro conditions and client decisions may affect timing.
Integration is expected to support a return toward 20% EBITDA margins over time; Bluewater is expected to become margin-accretive in four to six quarters.
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Latest events from NIIT Learning Systems
- Revenue grew 20%, but margin pressure and softer training spend tempered earnings.NIITMTS
Q4 22/23 - AI-driven learning solutions and strong growth position the company as a global L&D leader.NIITMTSInvestor presentation
- Q1 FY27 revenue up 25% YoY, AI-enabled services at 13%, EBITDA margin at 18.3%, PAT up 16%.NIITMTSQ1 26/27
- Q4 FY26 revenue up 22% YoY, PAT up 58%, with AI and acquisitions driving growth amid margin pressure.NIITMTSQ4 25/26
- Revenue up 19% YoY, AI-enabled revenue at 11%, and SweetRush acquisition boosts outlook.NIITMTSQ3 25/26
- Q2 FY25 revenue rose 4% and PAT 22%, with strong margins and BFSI, Lifesciences leading.NIITMTSQ2 24/25
- Q1 FY25 delivered 7% revenue growth, margin expansion, and strong outlook amid macro uncertainty.NIITMTSQ1 24/25
- FY25 delivered 6% revenue and 7% PAT growth, with strong cash and a recommended INR 3 dividend.NIITMTSQ4 24/25
- Q3 FY25 saw 7% YoY revenue growth, strong margins, new clients, and major AI-driven awards.NIITMTSQ3 24/25
Next NIIT Learning Systems earnings date
Q3 26/2714 Feb, 2027
NIIT Learning Systems
Next NIIT Learning Systems earnings date
Q3 26/2714 Feb, 2027
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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).