FY27 growth guidance cut; FY28 rebound and FY30 revenue targets
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Q2 FY27 revenue rose 7% to INR938.4 crore and gross margin rose 197 basis points to 65.5%, but EBITDA fell 13.5% to INR76.2 crore. Transitions reduced growth by about 2.8 points. Management cut FY27 revenue growth guidance to 7%-9% from 9%-11% and expects EBITDA margin to stay broadly flat. It targets 9%-11% growth in FY28 and INR5,000-5,500 crore revenue by FY30. Interim dividend: INR1.5 per share.
Lower FY27 guidance and transition costs may weigh on near-term sentiment, while the FY28 recovery plan, FY30 target and dividend offer support.