Capillary Technologies India Limited has informed the Exchange about Transcript
CAPILLARY · price
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Capillary Technologies filed the transcript of its first earnings call post-IPO, covering results for Q3 and nine months ended December 31, 2025. Q3 revenue grew 16% YoY to INR 184 crore, while 9-month revenue rose 22% YoY to INR 543 crore. Adjusted EBITDA for the quarter was INR 30 crore (16.4% margin, up from 15.3% a year ago), and 9-month EBITDA grew 53% to INR 71 crore. Net Retention Rate stood at 111% overall (115% organic), placing the company in the top 10 percentile of global SaaS firms. The company added 12 new customers in 9 months, taking the new order book to INR 66 crore versus INR 53 crore last year. Cash balance was INR 463 crore, with operating cash flow of INR 101 crore for 9 months.
Margin expansion continues to track ahead of revenue growth due to the 60% fixed-cost base, signaling operating leverage. Strong organic NRR of 115% and a healthy new order book support revenue visibility, while a INR 463 crore cash balance provides flexibility for further M&A—the company already has two letters of intent in the market. The AI-related 'aiRA' product is in early POC stage with 10-15 customers and could be a future growth lever if monetisation scales.