Birlasoft
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Birlasoft (BSOFT) investor relations material

Birlasoft Q3 25/26 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 25/26 earnings summary28 Jan, 2026

Executive summary

  • Q3 FY2026 revenue was $150.8M (₹13,475 Mn), up 1.4% QoQ, with EBITDA margin expanding to 18.2% from 16.0% in Q2, reflecting strong operating efficiencies and robust cash flow generation.

  • TCV for Q3 reached $202M, up 89% QoQ, with 46% from new engagements, driven by domain and AI-led capabilities.

  • Cash and cash equivalents increased 6% QoQ and 21% YoY to ₹24,914 Mn ($277.2M), supported by the highest quarterly collections in the fiscal year.

  • Unaudited consolidated financial results for the quarter and nine months ended 31 December 2025 were reviewed and approved by the Board on 28 January 2026.

  • Statutory auditors issued an unmodified review conclusion on both consolidated and standalone results.

Financial highlights

  • Consolidated revenue: $150.8M (₹13,475 Mn), up 1.4% QoQ; constant currency revenue up 0.3% QoQ.

  • EBITDA: $27.4M, up 13.3% QoQ and 42.1% YoY; EBITDA margin expanded 212 bps QoQ to 18.2%.

  • PAT at ₹1,199 Mn ($13.4M), with adjusted PAT at ₹1,802 Mn ($20.2M) after excluding labor code and one-time tax impacts.

  • Adjusted basic non-annualized EPS: INR 6.44 per share; basic EPS for the quarter at ₹4.28.

  • DSO improved to 54 days, among the best in the industry.

Outlook and guidance

  • No material change in demand environment; discretionary spending remains constrained.

  • Manufacturing and ERP expected to remain soft in Q4 due to one-off ramp-ups in Q3; recovery anticipated from Q1/Q2 next year.

  • ENU and financial services expected to show steady growth; life sciences to face headwinds in Q4 but expected to stabilize and grow from Q2 next year.

  • Q4 signings expected to exceed Q3; focus on pipeline and order booking.

  • The group continues to monitor the finalisation of Central and State rules and government clarifications on the new Labour Codes and will update accounting treatment as required.

New labor codes: ongoing cost implications?
What drove segment result growth across all sectors?
Explain consolidated vs standalone exchange differences.
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