According to reports from Business Standard, Crisil Ratings has reaffirmed its 'Crisil AA-/Stable' rating on the long-term facilities of R Systems International. The rating continues to reflect the company's comfortable business risk profile, as reflected in its healthy operating performance and steady improvement in operating margin, along with its healthy financial risk profile backed by low debt profile and healthy cash surplus.
As reported by Business Standard, the ratings factor in strong articulation of support from Blackstone Inc., which through its fund, BCP Asia II Topco II Pte. Ltd., Singapore, holds a majority stake of 51.85% in R Systems as on 31 May 2026. Blackstone has supported the operations of R Systems with new customer additions from its portfolio, and this is expected to continue over the medium term, diversifying and enhancing R Systems' customer base. Based on its track record, Blackstone is expected to provide need-based timely financial support to R Systems as it pursues organic and inorganic expansion plans.
According to Business Standard, revenues stood at ₹1,958 crore in 2025, registering around 12% growth over the previous year, in line with Crisil Ratings expectations, as a result of addition of Novigo and favourable currency movements. As on 31 December 2025, adjusted debt remained moderate at ₹410 crore comprising mainly of ₹275 crore non-convertible debentures (NCD) for the Novigo acquisition, ₹95 crore lease liabilities and remaining short-term borrowings. The adjusted networth stood healthy at ₹1,196 crore, leading to leverage metrics and debt protection metrics to remain at healthy levels. The company generates steady cash accruals in the range of ₹180-200 crore (net of dividend).
As reported by Business Standard, Crisil Ratings expects the revenue growth in 2026 is expected to remain at healthy double digits led by full year benefits of the Novigo acquisition acquired in November 2025. Ex-off inorganic growth, the core (constant currency) revenue growth is expected in low single digits due to the prolonged geopolitical uncertainties besides the pressures of AI-led disruption. The company continues to advance its AI-first approach through business partnerships and prudent inorganic acquisitions, which is expected to support its evolving business risk profile.
According to Business Standard, during the first three months of 2026, the company reported revenue of ₹575 crore (₹442 crore in previous corresponding period) and net profit of ₹65 crore (₹39 crore in previous corresponding period). The scrip shed 0.40% to end at ₹235.60 on the BSE today. R Systems is a leading provider of technology, artificial intelligence, analytics and knowledge services, partnering with customers to enable digital transformation with diversified digital offerings including product engineering, cloud enablement, quality assurance testing, and digital platforms and solutions.
