We are enclosing herewith transcript of Analyst and Investor Conference Call (Earnings Call) held on Tuesday, November 18, 2025 for the half year ended September 30, 2025.
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This is Meta Infotech's first analyst call after its IPO. H1 FY2026 revenue was ~Rs.210 Crores with EBITDA of Rs.15.8 Crores and PAT of Rs.10.4 Crores. The order book stands at Rs.514 Crores (about 2.3x FY2025 revenue) to be executed over the next 2-3 years. Management guided for 30-40% year-on-year growth and a 4-5x scaling vision over 3-5 years. H1 FY2026 EBITDA margin dipped to 7.5% (vs 9-11% historical baseline) due to a Rs.5.3 Crore foreign exchange loss and ~Rs.7 Crore revenue lost during the Imperva-Thales acquisition transition. Management noted these are one-off issues, with a proactive hedging framework now in place. ICICI Bank currently contributes ~50% of revenue, targeted to come down to 30-40% as the company expands its customer base and grows from 2 to 6 key OEM partnerships.
Positive for shareholders: strong revenue visibility through a 2.3x revenue order book, clear multi-year growth targets, and management has explained and addressed the temporary margin pressure. Near-term margins may stay soft as new offices (Pune, Hyderabad, Bangalore, Chennai) and senior hires (new CRO/COO) are in investment phase, but the long-term growth and margin recovery story is intact.