India · Delayed Price · Currency is INR Route Mobile Earnings Call Transcripts
Fiscal Year 2026
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Gross profit margins expanded in FY 2026 as the business exited low-margin ILD, with new products (RCS, WhatsApp, AI) growing at a 43% CAGR but still only 8% of revenue. Guidance is for mid to high single-digit revenue growth and a 12% EBITDA margin, with a 50% dividend increase and focus on AI-driven M&A.
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Q3 saw revenue decline due to lower ILD volumes, but gross profit and margins expanded on a shift to higher-margin domestic and new product business. Leadership transition and strategic partnerships are expected to drive future growth, with a continued focus on profitability and quality revenue.
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Q2 saw strong sequential and year-over-year growth in revenue, gross profit, and margins, driven by new products, strategic partnerships, and disciplined execution. Exceptional items impacted reported profit, but core profitability remains robust, with a positive outlook for H2.
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Revenue declined 4.8% YoY due to SMS market softness and loss of a major client, but gross and EBITDA margins improved sequentially as the business shifted focus to higher-margin products and platform solutions. Management expects growth to revive through new product lines and operator partnerships.
Fiscal Year 2025
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Revenue grew 15.5% year-on-year in Q4 FY25, but margins declined due to low-margin related party business and integration costs. Strong cash generation and new product growth offset headwinds, with future margin improvement expected from high-margin platform synergies.
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Revenue grew 13.1% YoY for nine months FY 2025, with strong new product and EBITDA growth. Integration with Proximus Global expands global reach and product offerings, while guidance targets 15% CAGR and 12.5%-13% EBITDA margin.
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Achieved record Q2 revenue and strong EBITDA growth despite seasonality and headwinds, with robust H2 outlook driven by festive demand, new deals, and synergies. Interim dividend declared; guidance for 18%-22% revenue growth and 13% EBITDA margin reaffirmed.
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Revenue grew 14% YoY and 8.5% sequentially, with strong gains in India and new products. FY25 guidance is 18%-22% revenue growth and 13% EBITDA margin, supported by synergies from the Proximus acquisition and large deals like Microsoft.