Birlasoft (BSOFT) Q2 25/26 earnings summary

Executive summary

• Q2 FY26 revenue reached $150.7 million (₹13,289 million), up 0.1% QoQ in USD and 3.4% in INR, driven by BFSI and Life Sciences, offsetting manufacturing weakness.

• EBITDA margin expanded to 16% from 12.4% in Q1, reflecting operational efficiencies, one-offs, and exchange rate tailwinds.

• Cash and cash equivalents increased to ₹23,434 million, up 2.5% QoQ and 26% YoY.

• Interim dividend of ₹2.50 per share declared for FY 2025-26.

• Komal Jain appointed as CEO-Americas to drive regional growth and innovation.

Financial highlights

• Q2 revenue: $150.7M (₹13,289M), up 3.4% QoQ in INR, flat in USD; EBITDA: $24.2M (₹2,133M), up 29.9% QoQ; margin at 16%.

• Adjusted net profit: $16.7M (₹1,477M); basic EPS: ₹4.16; adjusted EPS: $5.28 per share.

• Cash & cash equivalents: ₹23,434M ($263.9M) at quarter end; DSO improved to 55 days.

• Interim dividend of ₹2.50 per share recommended; record date November 14, 2025.

• Collections up 11.4% QoQ to $166M; operating cash flow to EBITDA: 74.3%.

Outlook and guidance

• Sequential revenue growth expected in Q3 and Q4, despite Q3 seasonality.

• H2 FY26 anticipated to outperform H1 in revenue and order book; robust deal pipeline.

• FY26 effective tax rate expected at 42%-43%; H2 ETR at 44%-45%; FY27 ETR to normalize to 28%-30%.

• Management aspires to achieve TCV signings of $800–$850M for FY26.

• Interim dividend signals confidence in ongoing business performance.