MPS Limited has informed the Exchange about Transcript
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MPS Limited filed the transcript of its Q1 FY'26 earnings call (quarter ended June 30, 2025). Consolidated revenue grew a muted 3.9% year-on-year, but EBITDA jumped 22.51%, aided by an Education Solutions segment that surged 56.64% purely on organic growth with EBITDA margins of 36%. Research Solutions saw a small revenue dip due to the intentional rightsizing of AJE (now at a $12M annual run rate vs. $18M last year), though AJE's standalone EBITDA margin improved to 23% and is targeted to exceed 30%. The Board approved the amalgamation of promoter holding company ADI BPO Services into MPS to simplify the shareholding structure, and in-principle approved transferring MPS Europa AG under MPS Interactive Systems. Management indicated a robust acquisition pipeline with 3 deals at advanced stages, targeting Education-Technology companies with at least $10M revenue and 15% EBITDA margins, funded via cash and up to ₹150 crore of debt.
Near-term results are soft due to AJE drag and Corporate Learning weakness, but the Education segment's strong organic growth and margin expansion elsewhere point to a recovery from Q2 onwards. Vision 2027 targets remain intact, and the acquisition pipeline plus promoter structure simplification are positive structural signals, though the stock may remain range-bound until FY'26 guidance is provided next quarter.