Earning call transcript
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Praruh Technologies held its first investor call post-listing. For H1 FY26, the company reported revenue of about INR 17.78 crore (including other income) and profit before tax of INR 98.28 lakhs, which is lower than H1 FY25 revenue of INR 28.42 crore. Management highlighted an existing order book of INR 74 crore for the current financial year, of which INR 18 crore has already been billed and the rest is expected in the second half. A notable recent win is an INR 42 crore, 8-year multi-year contract secured last week, with INR 28 crore slated for billing before March 31, 2026. The company expects an additional INR 30+ crore from government agencies and is targeting full-year revenue of INR 90+ crore while maintaining last year's PBT/PAT percentages.
Strong forward visibility with INR 74 crore order book and INR 30+ crore pipeline gives investors decent revenue certainty, and the 8-year Fortinet-adjacent contract adds long-term value. However, the sharp drop in H1 revenue versus last year warrants close monitoring, even though management is confident in a strong H2 rebound.