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SIS Q3 FY26 Revenue Crosses ₹4,000 Cr; Operating EBITDA Grows 25.2% YoY
SIS Limited achieved a significant milestone in Q3 FY26, with quarterly revenue crossing ₹4,000 crore for the first time, marking a 24.5% YoY growth. Operating EBITDA grew by 25.2% YoY to ₹196.3 crore, driven by strong performance across all business segments, particularly Security Solutions India which grew 33.7%. While Operating PAT was slightly down YoY at ₹100.8 crore due to one-off labor code adjustments, the underlying operational metrics remain strong. The company also reported excellent cash flow management with an OCF/EBITDA conversion rate of 140.5%.
Key Highlights
Consolidated revenue reached ₹4,185.2 cr, up 24.5% YoY and 11.4% QoQ.
Operating EBITDA hit a record ₹196.3 cr with a margin of 4.7%.
Security Solutions India revenue grew 33.7% YoY to ₹1,898 cr with major wins in E-commerce and Education.
Outstanding cash conversion with OCF/EBITDA at 140.5% and Net Debt/EBITDA at 1.25.
Facility Management segment EBITDA margin improved to 5.4% from 4.6% YoY.
👀 What to Watch
Investors should look past the flat PAT caused by one-off adjustments and focus on the record-breaking revenue and strong EBITDA growth. The company's high cash conversion and manageable debt levels make it a strong play in the essential services sector.
SIS Ltd Q3 Revenue Crosses ₹4,000 Cr; Declares ₹7 Dividend & Appoints New Directors
SIS Limited reported a milestone Q3 FY26 with consolidated revenue crossing ₹4,185.2 crore, marking a 24.5% YoY growth. The company declared an interim dividend of ₹7 per share and appointed Dr. Onkar Sharma, a former Chief Labour Commissioner, as an Independent Director to navigate new labour regulations. Despite a record operating EBITDA of ₹196.3 crore, the company recognized a one-time exceptional charge of ₹290 crore due to provisioning for the new Labour Codes. Founder Shri Ravindra Kishore Sinha has transitioned to the role of Chairman Emeritus.
Key Highlights
Consolidated revenue reached ₹4,185.2 crore in Q3 FY26, up 24.5% YoY and 11.4% QoQ.
Operating EBITDA hit a record ₹196.3 crore, representing a 25.2% YoY increase.
Declared an interim dividend of ₹7 per equity share (140% of face value) with a record date of Feb 6, 2026.
Recognized a one-time exceptional charge of ₹290 crore for gratuity and leave encashment provisions under new Labour Codes.
Security Solutions India segment grew 33.7% YoY to ₹1,898 crore, driven by ₹32 crore in monthly new order wins.
👀 What to Watch
Investors should look past the one-time ₹290 crore exceptional charge as it is a non-recurring regulatory adjustment, focusing instead on the strong 24.5% topline growth and healthy dividend payout. The appointment of a labour law expert to the board is a strategic move to manage the transition to new national labour codes effectively.
SIS Q3 Revenue Crosses ₹4,000 Cr; Declares ₹7 Interim Dividend; ₹290 Cr One-time Labour Code Charge
SIS Limited reported a milestone Q3 FY26 with consolidated revenue crossing ₹4,000 crore for the first time, growing 24.5% YoY to ₹4,185.2 crore. The company declared an interim dividend of ₹7 per share, with a record date of February 6, 2026. While operating EBITDA grew 25.2% YoY to ₹196.3 crore, the bottom line was impacted by a one-time exceptional charge of ₹290 crore due to provisioning for the new Labour Codes. Management remains optimistic, viewing the regulatory shift as a structural tailwind for organized players despite the immediate transition cost.
Key Highlights
Consolidated revenue grew 24.5% YoY to ₹4,185.2 crore, achieving a December run rate of over ₹1,435 crore.
Operating EBITDA reached a record ₹196.3 crore, up 25.2% YoY, with margins improving across all business segments.
Declared an interim dividend of ₹7 per equity share (140% of face value) to be paid by February 23, 2026.
Recognized a one-time exceptional charge of ₹290 crore for gratuity and compensated absences following the adoption of new Labour Codes.
Security Solutions India segment revenue jumped 33.7% YoY to ₹1,898 crore, driven by strong new order wins.
👀 What to Watch
Investors should look past the one-time ₹290 crore regulatory charge and focus on the robust 24.5% revenue growth and record operating EBITDA. The ₹7 dividend provides immediate yield, but the key monitorable will be the margin trajectory as the company recalibrates pricing under the new Labour Codes.
SIS Ltd Declares INR 7 Dividend; Q3 Revenue Hits Record INR 4,185 Cr, Up 24.5% YoY
SIS Limited has declared an interim dividend of INR 7 per share for FY 2025-26, following a milestone quarter where consolidated revenue crossed the INR 4,000 crore mark for the first time. The company reported a 24.5% YoY revenue growth and a 25.2% increase in operating EBITDA, reflecting strong performance across India and International security segments. However, the company took a one-time exceptional charge of INR 290 crore due to provisioning requirements under the new India Labour Codes. Management also announced the transition of founder Shri Ravindra Kishore Sinha to Chairman Emeritus.
Key Highlights
Interim dividend of INR 7 per equity share (140% of face value) with a record date of February 6, 2026.
Consolidated Q3 FY26 revenue reached INR 4,185.2 crore, growing 24.5% YoY and 11.4% QoQ.
Operating EBITDA grew 25.2% YoY to INR 196.3 crore, the highest ever for the company.
One-time exceptional charge of INR 290 crore recognized for gratuity and leave provisioning under new Labour Codes.
Security Solutions India segment revenue jumped 33.7% YoY to INR 1,898 crore.
👀 What to Watch
Investors should focus on the robust 24.5% topline growth and the dividend payout, treating the INR 290 crore labour code charge as a one-time structural adjustment. The company's ability to pass through statutory cost increases to clients makes it a strong beneficiary of workforce formalization.
SIS Q3 Revenue Crosses ₹4,000 Cr; Declares ₹7 Dividend; One-time ₹290 Cr Charge for Labour Codes
SIS Limited reported a milestone Q3 FY26 with consolidated revenue growing 24.5% YoY to ₹4,185.2 crore, crossing the ₹4,000 crore mark for the first time. Operating EBITDA reached an all-time high of ₹196.3 crore, up 25.2% YoY, driven by strong performance across India and International security segments. The company declared an interim dividend of ₹7 per share but also recognized a one-time exceptional charge of ₹290 crore due to provisioning requirements for the new Labour Codes. Management remains optimistic as the SIS-Prosegur IPO process has commenced with the filing of the DRHP.
Key Highlights
Consolidated revenue grew 24.5% YoY to ₹4,185.2 crore with a monthly run rate of ₹1,435 crore in December.
Operating EBITDA increased 25.2% YoY to ₹196.3 crore, reflecting improved operating leverage.
Declared an interim dividend of ₹7 per equity share with a record date of February 6, 2026.
Security Solutions India segment revenue jumped 33.7% YoY to ₹1,898 crore, driven by new order wins.
Recognized a one-time non-cash exceptional charge of ₹290 crore for gratuity and leave provisioning under new Labour Codes.
👀 What to Watch
Investors should look past the one-time accounting charge for labour codes and focus on the robust 24.5% topline growth and record EBITDA. The ₹7 dividend and the upcoming SIS-Prosegur IPO provide additional value triggers for shareholders.
Persistent Systems Q3 FY26 Revenue Grows 17.3% YoY to $422.5M; Declares ₹22 Interim Dividend
Persistent Systems reported a robust Q3 FY26 with revenue reaching $422.5 million, marking its 23rd consecutive quarter of growth. While reported EBIT margin stood at 14.4% due to a one-time 230 bps impact from New Labor Code provisions, the normalized EBIT margin improved to 16.7%. The company maintained strong deal momentum with a Total Contract Value (TCV) of $674.5 million. Management remains confident in reaching its $2 billion revenue target by March 2027 and $5 billion by FY31.
Key Highlights
Revenue grew 17.3% YoY to $422.5 million, with constant currency growth at 4.1% QoQ.
Normalized EBIT margin improved to 16.7% (up 40 bps QoQ) excluding the one-time 230 bps labor code impact.
Total Contract Value (TCV) bookings reached $674.5 million, with new bookings contributing $369.1 million.
BFSI vertical led industry growth with a 29.3% YoY increase, followed by Software & Hi-Tech at 14.7%.
Board declared an interim dividend of ₹22 per share on a face value of ₹5.
👀 What to Watch
Investors should look past the one-time regulatory margin hit and focus on the strong normalized margins and robust TCV. The company's consistent execution and clear path to $2 billion revenue make it a strong hold/buy candidate on dips.
Persistent Systems Q3 Revenue Up 17.3% YoY to $422.5M; Declares ₹22 Interim Dividend
Persistent Systems reported a robust Q3 FY26 with revenue reaching $422.5 million, representing 17.3% YoY growth and its 23rd consecutive quarter of expansion. While reported EBIT margins dipped to 14.4% due to a one-time 230 bps impact from New Labor Code provisions, normalized margins actually improved to 16.7%. The company maintains a strong deal pipeline with a TCV of $674.5 million and has declared an interim dividend of ₹22 per share. Management remains confident in reaching its $2 billion revenue target by FY27 and $5 billion by FY31.
Key Highlights
Revenue grew 17.3% YoY to $422.5 million, with constant currency growth of 4.1% QoQ.
Total Contract Value (TCV) stood at $674.5 million, with new bookings contributing $369.1 million.
BFSI vertical led industry growth at 29.3% YoY, followed by Software & Hi-Tech at 14.7%.
Normalized EBIT margin (excluding one-time labor code impact) improved 40 bps QoQ to 16.7%.
Board of Directors declared an interim dividend of ₹22 per share for the fiscal year.
👀 What to Watch
Investors should look past the one-time regulatory margin hit and focus on the strong normalized margin expansion and robust deal wins. The company's consistent execution and clear roadmap toward $5 billion in revenue make it a strong long-term hold in the IT services sector.
Mphasis Q3 FY26: Revenue Hits $451Mn with Record $2.1Bn LTM TCV and Strong AI Pipeline
Mphasis reported Q3 FY26 revenue of $451 million, reflecting a 7.4% YoY growth in constant currency. A key highlight is the LTM TCV, which has doubled over the last four quarters to reach a record $2.1 billion, supported by $428 million in new wins this quarter. The company's deal pipeline is at an all-time high, growing 66% YoY, with 69% of opportunities now being AI-led via their NeoIP platform. Growth was particularly robust in the Insurance vertical, which surged 36.6% YoY, and Direct BFS, which grew 18% YoY.
Key Highlights
Q3 revenue reached $451 million, up 1.5% QoQ and 7.4% YoY in constant currency terms.
LTM TCV doubled over the last four quarters to $2.1 billion, with 4 large deal wins in Q3.
The total deal pipeline grew 66% YoY, driven by a 98% YoY increase in the BFS pipeline.
Direct Business revenue grew 9.6% YoY in CC, now contributing 98% of total revenue.
Insurance vertical delivered stellar growth of 36.6% YoY, while Enterprise Apps grew 3.7% QoQ.
👀 What to Watch
Investors should take confidence in the doubling of the LTM TCV and the record AI-led pipeline as leading indicators for future growth. The company's successful deployment of the NeoIP platform is effectively 'supersizing' deal values and driving wallet share in core BFSI accounts.
Medi Assist Seeks Shareholder Nod for Re-appointment of CEO and Chairman for 5-Year Terms
Medi Assist Healthcare Services has initiated a postal ballot to seek shareholder approval for the re-appointment of its core leadership team. The company proposes extending the terms of Chairman Dr. Vikram Jit Singh Chhatwal and CEO Mr. Satish V N Gidugu for five years each, effective March 1, 2026. Additionally, the ballot seeks approval for their remuneration for a three-year period and the re-appointment of an Independent Director. This move signals a commitment to management continuity and long-term strategic stability.
Key Highlights
Proposed re-appointment of CEO Satish V N Gidugu for a 5-year term from March 2026 to February 2031
Proposed re-appointment of Chairman Dr. Vikram Jit Singh Chhatwal for a 5-year term ending February 2031
Approval sought for executive remuneration for a 3-year period effective March 1, 2026
Dr. Ritu Niraj Anand proposed for a second 5-year term as Independent Director starting March 15, 2026
Remote e-voting period scheduled from January 26, 2026, to February 24, 2026
👀 What to Watch
Investors should view this as a positive sign of leadership stability and continuity in the company's growth strategy. It is advisable to monitor the final voting results for any significant dissent regarding executive remuneration packages.
Mphasis Q3 FY26: Direct Revenue Up 9.6% YoY, LTM TCV Doubles to $2.1 Billion
Mphasis reported a steady Q3 FY26 with direct revenue growing 9.6% YoY to $451 million, led by strong performance in the BFSI segment. The company's AI-led strategy is gaining significant traction, with 69% of the pipeline now AI-driven and LTM TCV doubling to $2.1 billion. Operating margins remained stable at 15.2%, within the management's guided range of 14.75%-15.75%. Management maintains an optimistic outlook, expecting growth at twice the industry average driven by large deal ramp-ups.
Key Highlights
Direct revenue grew 1.9% QoQ and 9.6% YoY in constant currency, reaching $451 million.
LTM TCV reached $2.1 billion, doubling year-on-year, with $428 million in new wins this quarter.
AI-led initiatives dominate the outlook, with 69% of the total pipeline being AI-driven and a 91% YoY increase in large deal pipeline.
Banking and Financial Services (BFS) direct revenue grew 18.2% YoY, while Insurance saw a robust 8.1% QoQ growth.
Operating (EBIT) margins held steady at 15.2%, consistent with the long-term target band of 14.75%-15.75%.
👀 What to Watch
Investors should monitor the conversion of the record TCV into revenue over the next few quarters. The company's ability to maintain margins while outperforming industry growth rates makes it a strong pick in the mid-cap IT space.
Mphasis Q3 FY26 Revenue Grows 12.4% YoY to ₹40,026 Mn; PAT Impacted by Exceptional Item
Mphasis reported a steady revenue growth of 2.6% QoQ and 12.4% YoY, reaching ₹40,026 million for the quarter ended December 2025. Consolidated Profit After Tax (PAT) stood at ₹4,422 million, showing a sequential decline of 5.7% primarily due to a one-time exceptional charge of ₹355 million related to the implementation of new Indian labour laws. The Banking and Financial Services (BFS) segment remains the primary growth driver, contributing over 52% of total revenue. While net margins were slightly pressured by the regulatory charge, the company continues to expand its capabilities through strategic acquisitions in cybersecurity and digital transformation.
Key Highlights
Consolidated revenue from operations grew 12.4% YoY and 2.6% QoQ to ₹40,025.79 million.
Profit After Tax (PAT) stood at ₹4,421.85 million, up 3.4% YoY but down from ₹4,690.74 million in the previous quarter.
A one-time exceptional expense of ₹354.77 million was recorded due to the impact of change in Indian labour laws.
Banking and Financial Services (BFS) revenue increased to ₹20,912.49 million, accounting for 52.2% of total revenue.
Insurance segment revenue showed significant growth, rising 45.4% YoY to ₹6,039.93 million.
👀 What to Watch
Investors should look past the one-time PAT decline caused by the non-recurring labour law provision and focus on the healthy 12.4% YoY revenue growth. The continued strength in the BFS and Insurance verticals suggests a stable demand environment for the company's core services.
Mphasis Q3 Revenue Rises 12.4% YoY to ₹40,026 Mn; PAT Impacted by One-time Labour Law Charge
Mphasis reported a steady 12.4% YoY growth in consolidated revenue for Q3 FY26, reaching ₹40,025.79 million. However, Profit After Tax (PAT) saw a sequential decline of 5.7% to ₹4,421.85 million, primarily due to a one-time exceptional charge of ₹354.77 million related to the notification of new Indian labour codes. The Banking and Financial Services (BFS) segment remained the strongest performer, contributing over 52% of total revenue. Despite the one-time hit, the company continues its inorganic growth strategy with multiple small-scale acquisitions in cybersecurity and digital transformation.
Key Highlights
Consolidated Revenue grew 2.6% QoQ and 12.4% YoY to ₹40,025.79 million
Net Profit (PAT) stood at ₹4,421.85 million, up 3.4% YoY but down 5.7% QoQ due to exceptional items
Recognized a one-time exceptional cost of ₹354.77 million for compliance with New Labour Codes
BFS segment revenue grew to ₹20,912.49 million, while Logistics and Transportation revenue halved YoY to ₹2,182.49 million
Basic EPS for the quarter was ₹23.22, down from ₹24.65 in the preceding quarter
👀 What to Watch
Investors should look past the one-time regulatory impact and focus on the steady growth in BFS and Insurance verticals. Monitor the recovery in the Logistics segment and the margin impact of recent acquisitions like Locate Software and EDZ Systems.
Persistent Systems Approves Audited Q3 FY26 Financial Results
Persistent Systems has officially approved its audited financial results for the third quarter and nine months ended December 31, 2025. The Board of Directors finalized both consolidated and standalone statements during their meeting on January 20, 2026. While the specific profit and loss figures are contained in the linked full reports, this filing confirms the completion of the formal audit process for the period. Investors should now review the detailed statements for revenue growth and margin performance metrics.
Key Highlights
Board of Directors approved audited consolidated financial statements for Q3 and 9M FY26.
Audited standalone financial statements for the period ended December 31, 2025, were also finalized.
The board meeting and official disclosure were completed on January 20, 2026.
Full financial reports have been made available on the company's website for investor review.
👀 What to Watch
Investors should download the full audited reports to evaluate the company's revenue trajectory and operational margins. Compare these results against industry peers to assess Persistent's relative performance in the IT services sector.
Persistent Systems Declares Interim Dividend of ₹22 Per Share for FY 2025-26
Persistent Systems has announced an interim dividend of ₹22 per equity share for the financial year 2025-26. The dividend is declared on shares with a face value of ₹5 each. The Board has fixed January 27, 2026, as the record date for identifying eligible shareholders. The payout will be completed within 30 days, demonstrating the company's consistent policy of rewarding shareholders.
Key Highlights
Interim dividend of ₹22 per equity share for FY 2025-26
Face value of the equity shares is ₹5 each
Record date for dividend eligibility is January 27, 2026
Payment to be disbursed within 30 days of declaration
👀 What to Watch
Investors should hold the stock before the ex-dividend date to qualify for the ₹22 per share payout. This move reinforces confidence in the company's cash flow generation capabilities.
Persistent Systems Declares INR 22 Interim Dividend; Sets Jan 27 as Record Date
Persistent Systems Limited has approved an interim dividend of INR 22 per equity share for the financial year 2025-26. The dividend is based on a face value of INR 5 per share. The Board of Directors finalized this decision in their meeting held on January 20, 2026. Shareholders as of the record date, January 27, 2026, will be eligible for the payout, which will be completed within 30 days.
Key Highlights
Interim dividend declared at INR 22 per equity share of face value INR 5
Record date for determining eligibility is set for Tuesday, January 27, 2026
The board approval for the dividend took place on January 20, 2026
Payment to be processed within the statutory timeline of 30 days from declaration
👀 What to Watch
Investors seeking dividend income should ensure they hold the stock before the ex-dividend date to qualify for the INR 22 per share payout. This move signals strong cash flow and management's confidence in the company's financial health.
Persistent Q3 Revenue Grows 17.3% Y-o-Y to $422.5M; Declares ₹22 Interim Dividend
Persistent Systems reported a strong 17.3% Y-o-Y revenue growth in USD terms, reaching $422.5 million for Q3 FY26, marking its 23rd consecutive quarter of growth. While operational performance remained robust, reported margins were impacted by a one-time charge of ~2.3% on EBIT due to New Labour Codes. Excluding this one-time impact, the EBIT margin stood at a healthy 16.7%. The company demonstrated strong deal momentum with a Total Contract Value (TCV) of $674.5 million and rewarded shareholders with an interim dividend of ₹22 per share.
Key Highlights
Revenue reached $422.5 million, up 17.3% Y-o-Y and 4.0% Q-o-Q in USD terms.
EBIT margin excluding one-time labor code impact was 16.7%; reported EBIT margin was 14.4%.
Total Contract Value (TCV) for the quarter stood at $674.5 million, with ACV at $501.9 million.
Net Profit (PAT) grew 17.8% Y-o-Y to ₹4,394.5 million, despite the one-time regulatory impact.
Declared an interim dividend of ₹22 per share on a face value of ₹5 for FY 2025-26.
👀 What to Watch
Investors should look past the one-time margin compression caused by regulatory changes and focus on the sustained 23-quarter revenue growth streak and strong TCV. The company remains a high-growth play in the mid-cap IT space with consistent execution and healthy dividend payouts.
Persistent Systems Q3 FY26 Revenue up 17.3% YoY to $422.5M; 23rd Consecutive Quarter of Growth
Persistent Systems delivered a strong Q3 FY26 with revenue of $422.5 million, representing 17.3% YoY growth and maintaining a 23-quarter sequential growth streak. The company reported an EBIT margin of 14.4% and a PAT margin of 11.6%, both reflecting a one-time impact from New Labour Codes (~2.3% and ~1.8% respectively). Order inflow remains healthy with TTM ACV bookings at $1,685.3 million. The firm is successfully scaling its AI-led, platform-driven strategy, evidenced by the growth in $5M+ clients to 61.
Key Highlights
Quarterly revenue reached $422.5 million, up 17.3% YoY and 4.0% QoQ.
TTM ACV bookings stood at $1,685.3 million, supporting strong future revenue visibility.
EBIT margin of 14.4% includes a 230 bps one-time impact from New Labour Codes.
Client mining improved significantly with $5M+ accounts rising to 61 from 47 in the prior year.
Strong capital efficiency maintained with ROCE at 43.8% and ROE at 25.0%.
👀 What to Watch
The stock remains a strong play in the mid-cap IT space given its consistent execution and AI pivot; the margin impact is transient and should not deter long-term investors.
Persistent Systems Declares INR 22 Interim Dividend and Approves Q3 FY26 Results
Persistent Systems has declared a significant interim dividend of INR 22 per equity share for the financial year 2025-26. The Board approved the audited financial results for the quarter and nine months ended December 31, 2025, signaling operational stability. To manage employee incentives, the company will issue 1.1 million equity shares to its ESOP Trust. Additionally, an internal restructuring was approved to transfer German and French subsidiaries to its Irish arm, Aepona Group Limited, aimed at improving group-wide operational efficiency.
Key Highlights
Declared an interim dividend of INR 22 per equity share with a face value of INR 5.
Approved the issuance of 1,100,000 equity shares to the PSPL ESOP Management Trust.
Restructuring of European operations by transferring 100% stakes of German and French subsidiaries to Aepona Group Limited, Ireland.
Audited financial results for the quarter and nine months ended December 31, 2025, successfully approved by the Board.
👀 What to Watch
Investors should benefit from the healthy interim dividend payout and monitor the detailed Q3 earnings report for margin trends. The internal restructuring indicates a strategic move to streamline European operations which could lead to long-term cost efficiencies.
Persistent Systems Q3 Results: Declares INR 22 Interim Dividend and Subsidiary Restructuring
Persistent Systems has approved its audited financial results for the quarter ended December 31, 2025, and declared a substantial interim dividend of INR 22 per share. The board also authorized the issuance of 1.1 million equity shares to its ESOP trust to facilitate employee stock options. Additionally, a corporate restructuring was approved to transfer 100% ownership of German and French subsidiaries to an Irish entity, Aepona Group Limited, to enhance operational efficiency. These moves reflect a combination of shareholder rewards and internal structural optimization.
Key Highlights
Declared an interim dividend of INR 22 per equity share for FY 2025-26.
Approved the issuance of 1,100,000 new equity shares of INR 5 each to the PSPL ESOP Management Trust.
Restructuring: 100% shareholding of German and French subsidiaries to be transferred to Aepona Group Limited, Ireland.
Audited financial results for the quarter and nine months ended December 31, 2025, have been officially approved.
👀 What to Watch
Investors should welcome the healthy interim dividend and the move toward entity rationalization in Europe. Monitor the full financial statement for revenue growth and margin performance in the IT services sector.
Mphasis Acquires Remaining 49% Stake in UK-based Mrald Limited for Full Ownership
Mphasis Consulting Limited, a UK subsidiary, has exercised its call option to acquire the remaining 49% stake in its joint venture, Mrald Limited, from Ardonagh Services Limited. Mrald Limited, which provides digital transformation services for the insurance sector, reported a turnover of Rs. 83.99 crore in FY25, up from Rs. 16.76 crore in FY23. Although Mphasis already held 100% beneficial interest and operating control, this move formalizes full legal ownership as the venture has reached sufficient scale. The acquisition was completed at face value in cash, and the partnership with Ardonagh as a customer remains intact.
Key Highlights
Acquisition of 49% stake in Mrald Limited, UK, making it a 100% step-down subsidiary.
Mrald's turnover grew significantly from Rs. 16.76 Cr in FY23 to Rs. 83.99 Cr in FY25.
The transaction was executed at face value for 49 Ordinary Shares via cash consideration.
Move follows the exercise of a call option five years after the initial joint venture formation.
Mphasis retains Ardonagh Services Limited as a valued customer with all existing agreements unchanged.
👀 What to Watch
Investors should view this as a positive consolidation of a high-growth niche unit specializing in insurance digital transformation. The formalization of ownership at a nominal cost reflects a well-timed strategic execution of a pre-existing joint venture agreement.
