Transcript of the Earnings call inter-alia on the Audited Financial Results of the Company for the Fourth Quarter (Q4) and Financial Year ended 31 March 2026.
MPSLTD · price
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MPS Limited reported record FY'26 performance with revenue of INR 768 crores (+5.7% YoY), EBITDA of INR 236 crores (+11.8%), and PAT of INR 173 crores (+16.3%) with EPS of INR 102.11. Q4 was the strongest quarter with EBITDA of INR 67.5 crores at 32.9% margin. The company guided for FY'27 EBITDA comfortably exceeding INR 300 crores, implying ~21% CAGR from FY'24 to FY'27. Research Solutions delivered 39.9% EBITDA margin (330 bps expansion), Education grew 36.3% to INR 209 crores, while Corporate Learning revenue declined 16.5% but showed Q4 recovery. Unbound Medicine acquisition (closed February 9, 2026) contributed INR 11.78 crores in 50 days with plans to reach USD 750-950K monthly revenue and 25-30% EBITDA margin by FY'27 exit. The company has an active M&A pipeline of 35 companies with 5 in advanced stages. No final dividend was declared for FY'26 due to Unbound acquisition and active deployment opportunities.
The company delivered record profitability and strong margin expansion in FY'26, with management providing confident FY'27 guidance backed by bottom-up operating plans. The Unbound acquisition adds recurring revenue to Education segment, while the disclosed M&A pipeline suggests continued inorganic growth plans. Capital returns to shareholders are paused temporarily due to acquisition activity but the 7-year track record of capital returns remains intact.