Press Release regarding financial results for the Half year and year ended March 31, 2026
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Workmates Core2Cloud Solution Ltd reported strong FY2026 results with revenue from operations growing 33.6% year-on-year to ₹143.82 crore. The company achieved PAT of ₹15.92 crore (up 13.8% from ₹13.99 crore) and PBT of ₹21.46 crore (up 14.5%). The company completed its IPO, becoming debt-free with cash and equivalents of ₹53.95 crore as of March 31, 2026. Recurring revenue reached ₹118 crore representing 82.5% of total revenue, with entry MRR for FY2027 at ₹13.25 crore per month, up 35% from March 2026. The board declared an interim dividend of ₹2 per share. H2 FY2026 showed some softness in margins due to deliberate exits from lower-margin engagements and planned investments in headcount.
The results indicate strong growth trajectory with improved revenue quality from recurring streams. Being debt-free with substantial cash reserves provides financial flexibility for FY2027 investments. The 33.6% revenue growth significantly exceeds typical IT services sector growth, though PAT growth of 13.8% trails revenue growth, suggesting margin monitoring is warranted.