Ceinsys Tech (538734) Q3 25/26 earnings summary

Executive summary

• Operational revenue for Q3 grew 52% year-over-year to INR 170 crore, with nine-month revenue up 78% to INR 490 crore.

• Net profit for Q3 rose 119% year-over-year to INR 39 crore; nine-month net profit up 133% to INR 96 crore.

• 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.

• Early international traction in MEA and expansion initiatives in the USA, Saudi Arabia, and Dubai.

Financial highlights

• Q3 operational revenue: INR 170 crore (+52% YoY); nine months: INR 490 crore (+78% YoY).

• Q3 EBITDA: INR 40 crore (+88% YoY), margin 23.48% (+452 bps YoY); nine months EBITDA: INR 106 crore (+107% YoY), margin 21.59% (+302 bps YoY).

• Q3 net profit: INR 39 crore (+119% YoY), PAT margin 22.9%; nine months net profit: INR 96 crore (+133% YoY), PAT margin 19.75%.

• 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 year with an order book near INR 900 crore, maintaining strong growth momentum.

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

• Expansion into U.S., Middle East, and new strategic partnerships to drive future growth.

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

• Further investment of up to Rs. 40 crore in Technology Associates Inc. (US subsidiary) through conversion of loans and fresh equity to support growth opportunities in the US market.