Transcript for Q4FY26 Earnings conference call
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Seshaasai Technologies reported Q4 FY26 revenue of INR 404 crore (up 9.6% YoY) with EBITDA margin expanding to 30.8%, up 330 bps YoY, supported by procurement efficiencies and operating leverage. Full-year FY26 revenue stood at INR 1,441 crore (down 1.5% YoY) primarily due to Payment Solutions weakness, but overall profitability improved significantly with PAT margin at 16.7%. The company added 21 new payment customers, 65 new IoT customers, and 8 new Communication & Fulfilment customers. Key developments include the metal card patent granted in February 2026, GSMA SAS-UP certification for eSIM manufacturing at Bengaluru, and SIM card division starting to contribute materially to revenue. The Board recommended a dividend of INR 2.5 per share. Management did not provide formal FY27 guidance citing macroeconomic uncertainty, but indicated IoT business would grow above 47% YoY and eSIM revenues are expected from H2 FY27.
The company demonstrated margin expansion and diversification despite revenue pressure in payment cards. New patent wins, eSIM certification, and multi-year tender provide near-term revenue visibility, though management's refusal to give formal guidance signals caution on the macroeconomic outlook.