FRACTAL ANALYTICS LIMITED

Fractal Analytics is an AI and analytics services company that sells enterprise AI solutions to large clients across four main verticals — Healthcare & Life Sciences (HLS), Banking, Financial Services & Insurance (BFSI), Consumer Packaged Goods & Retail, and Technology, Media & Telecom (TMT). The business runs on two segments: Fractal.ai, which contributed 97.3% of segment revenue at ₹3,219 crore in FY26 with EBIT of ₹540.9 crore, and Fractal Alpha, a smaller 2.7% segment at ₹90.8 crore running EBIT-negative at -₹17 crore. Fractal.ai operates on three pillars — AI-led transformation, AI foundations, and AI for work — delivered through proprietary platforms including Cogentiq (10+ clients, license revenue ~3% of mix), Asper.ai (ARR ~$9M, AI for sales, pricing and inventory), Qure.ai (healthcare AI), and Analytics Vidhya. The customer base is concentrated in enterprises (top-10 clients made up 51.8% of revenue in Q1 FY27), with 5 clients generating over $20M in TTM revenue and zero client churn in the quarter. The biggest cost driver is people: employee costs were 69.4% of revenue in FY26, with other opex at 15.2% and depreciation at 4.1%. Q1 FY27 revenue grew 20% YoY to ₹912.5 crore, with HLS growing 69% YoY and BFSI 36%, while TMT declined 22% YoY dragging headline growth.