Ceinsys Tech (538734) Q3 25/26 earnings summary

Executive summary

• Operational revenue for Q3 FY26 grew 52% year-over-year to INR 170 crore, with EBITDA up 88% to INR 40 crore and net profit rising 119% to INR 39 crore, reflecting strong margin expansion and robust business execution.

• For the nine months ended December 2025, operational revenue increased 78% year-over-year to INR 490 crore, EBITDA rose 107% to INR 106 crore, and net profit surged 133% to INR 96 crore, supported by broad-based segment growth.

• Achieved over three years of consistent revenue growth, outperforming peers amid market headwinds and slow procurement cycles.

• Over 100 projects executed with zero client churn and a healthy pipeline across government, PSU, and infrastructure enterprises.

• Board approved unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, with limited review by statutory auditors.

Financial highlights

• Q3 FY26 revenue from operations reached INR 1,699 Mn, up 52.0% YoY; 9M FY26 revenue at INR 4,900 Mn, up 77.7% YoY.

• Q3 FY26 EBITDA margin at 23.48% (up 452 bps YoY); 9M FY26 EBITDA margin at 21.59% (up 302 bps YoY).

• Q3 FY26 PAT at INR 389 Mn (up 118.5% YoY); 9M FY26 PAT at INR 963 Mn (up 132.6% YoY).

• Diluted EPS for Q3 FY26 at 19.94 INR/share (up 100.4% YoY); 9M FY26 at 48.76 INR/share (up 99.3% YoY).

• Net worth increased to INR 4,667 Mn as of H1 FY26; net debt to equity improved to -0.30.

Outlook and guidance

• Management expects to close the order book at around INR 900 crore post-Q4, with a robust pipeline that may spill into Q1 of the next year.

• Growth momentum is expected to continue, with no formal forward-looking projections but confidence in sustaining quarter-on-quarter revenue growth.

• U.S. subsidiary expected to contribute INR 23-25 crore in revenue for FY26, with further growth anticipated as business development efforts mature.

• Strong order book with INR 9,990 Mn in closing orders as of Dec 31, 2025, excluding annual and other customer commitments for mobility and product services.

• Additional acquisitions planned in geospatial, mobility, and tech domains to support future growth.