India · Delayed Price · Currency is INR Indegene Earnings Call Transcripts
Fiscal Year 2026
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Record revenue and EBITDA growth driven by deepening customer relationships, GenAI-led innovation, and strategic acquisitions. Strong cash flows and improved margins expected as investments are absorbed, with a robust pipeline and industry tailwinds supporting multi-year growth.
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Q3 FY2026 delivered 30.8% year-on-year revenue growth and 18.5% adjusted EBITDA margin, driven by large AI-enabled deal wins and successful BioPharm integration. Management expects margins to improve and strong cash flows to continue as synergies materialize.
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Q2 revenue grew 17.1% YoY with strong deal wins and robust pipeline, despite near-term margin compression from investments in GenAI and acquisitions. Industry headwinds from U.S. policy changes are manageable, and management expects margins to recover as growth accelerates.
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Q1 FY2026 saw 12.5% year-over-year revenue growth, stable 20.2% EBITDA margin, and strong cash reserves. Enterprise segments drove growth, while Brand Activation faced project deferrals. AI initiatives and Tectonic are gaining traction, with a robust deal pipeline and M&A focus.
Fiscal Year 2025
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Q4 and FY25 saw solid revenue and PAT growth, with strong cash reserves and a 100% dividend declared. AI and M&A remain strategic priorities amid macro uncertainties, while margins are stable and recurring revenues drive performance.
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Q3 FY25 saw 4.9% sequential and 7% year-over-year revenue growth, with EBITDA up 18.5% and PAT up 19.6%. Major client renewals, new mid-tier client wins, and improved margins position the company for continued growth amid cautious industry recovery.
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Q2 FY25 revenue grew 8.8% year-on-year, led by enterprise segments and stabilized top accounts. EBITDA margin was 18.4%, impacted by wage hikes but offset by productivity gains. Management expects robust H2 growth, with strong cash reserves and ongoing M&A activity.
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Q1 FY25 saw 11.4% revenue growth and 28.3% PAT growth year-over-year, despite temporary headwinds from two major clients. The company is now debt-free, maintains strong margins, and expects a robust H2 and medium-term growth, supported by a healthy pipeline and recent strategic wins.