eMudhra Limited has informed the Exchange about Transcript
EMUDHRA · price
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eMudhra reported FY2026 total income of INR 7,132 million, up 35% YoY, with PAT of INR 1,100 million, up 26%. The company operates three segments: Enterprise Solutions (59% of revenue, grew 55% with 23% organic and 32% acquisitive growth), Trust Services (20%, up 32%), and Pure Services (21%, flat). International revenue now constitutes 64% of total, with North America at 34% and India at 36%. Key product wins include a large TLS certificate order from InCommon, a US university consortium with 700 member institutions. FY27 guidance is approximately 18% organic revenue growth and 25-30% PAT growth, with a stated ambition to double PAT over 3 years. The order book stands at INR 238 crore, primarily product business. PQC (post-quantum cryptography) POCs are underway in BFSI, defence, and critical government agencies. Cryptas contributed INR 85 crore revenue in FY26, near breakeven, with management expecting over $1 million profit this year through cross-selling the CLM platform into Cryptas customer base.
Strong quarter with management reaffirming confidence—last 5 years' guidance achieved 100%. Higher-margin product mix shifting should drive PAT growth ahead of revenue growth. Key risks: Middle East conflict delaying some orders, long European sales cycles for Cryptas cross-sell.