Dev Accelerator Q2 FY26 results: H1 revenue up 81% YoY, Cash EBIT jumps 5x
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Dev Accelerator reported Q2 FY26 revenue of Rs 51.84 cr, up 50.4% YoY, and H1 FY26 revenue of Rs 107.47 cr, up 80.9% YoY on new centres maturing and higher utilisation. EBITDA margins stood at 50.9% in Q2 and 49.2% in H1, slipping from 52.8% and 54.2% a year ago. Cash EBIT surged 160% YoY in Q2 and 532% in H1. PBT grew 140% in H1 but fell 74% in Q2 on a high base. IPO proceeds were used to cut long-term debt from Rs 98.94 cr to Rs 11.27 cr. Portfolio covers 28 centres across 12 cities with 13,604 seats at 88% occupancy.
Strong revenue growth and sharp debt reduction are positives. Margin compression and weak Q2 PBT are watchpoints. Overall constructive earnings story.