The Quarter story
The two most recent quarterly results, compared side-by-side.
Profitability and cash reserves are strong, but reliance on a few large clients and slower bill collections require monitoring.
Net cash reserves grew from ₹457.3 Cr to ₹710.2 Cr from Q1 FY26 to Q1 FY27 — stronger liquidity for future investments.
Top 20 client concentration rose from 52% to 54% from Q1 FY26 to Q1 FY27 — persistent reliance on a few large accounts.
Digital Operations revenue expanded from ₹255.6 Cr to ₹296.8 Cr from Q1 FY26 to Q1 FY27 — consistent top-line growth.
Days sales outstanding increased from 56 days to 60 days from Q1 FY26 to Q1 FY27 — slower bill collections.
EBITDA margin rose from 16.2% to 19.7% from Q1 FY26 to Q1 FY27 — steady cost control across the business.
New clients added dropped from 12 to 5 from Q1 FY26 to Q4 FY26 — slowdown in business acquisition.
Digital Experiences EBIT margin recovered from 4.4% to 11.7% from Q4 FY26 to Q1 FY27 — strong segment turnaround.
Digital Technologies EBIT margin fell from 10.8% to 8.9% from Q2 FY26 to Q1 FY27 — pricing pressure in the segment.
UK and Europe revenue share grew from 21% to 25% from Q2 FY26 to Q1 FY27 — expanding international footprint.
India revenue share fell from 17% to 12% from Q3 FY26 to Q1 FY27 — geographic shift away from domestic markets.
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