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Excelsoft Seeks Approval for MD Remuneration up to โน4.8 Cr and New Director Appointment
Excelsoft Technologies has issued a postal ballot notice to seek shareholder approval for key leadership and compensation matters. A primary resolution includes a fixed salary of up to โน4.80 crore per annum for the Chairman and Managing Director, Mr. Dhananjaya Sudhanva, effective April 1, 2026. The company is also seeking the appointment of Dr. Jayakumar Karuppusamy as an Independent Director for a five-year term. Additionally, shareholders will vote on remuneration for Mrs. Shruthi Sudhanva (Whole Time Director) and Mr. Adarsh Sudhindratheertha Mysore (Chief Innovations Officer).
Key Highlights
Proposed fixed salary for MD Dhananjaya Sudhanva capped at โน4.80 crore per annum plus extensive perquisites.
Appointment of Dr. Jayakumar Karuppusamy as Independent Director for a 5-year term until March 2031.
Remuneration approval for Whole Time Director Shruthi Sudhanva and CIO Adarsh Sudhindratheertha Mysore.
E-voting period scheduled from April 30, 2026, to May 29, 2026.
Resolutions include provisions for payment of remuneration even in the event of inadequate profits.
๐ผ Action for Investors
Investors should evaluate if the proposed executive remuneration of โน4.8 crore is commensurate with the company's financial performance and industry benchmarks. Monitor the voting results to gauge shareholder sentiment regarding the leadership's compensation structure.
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Excelsoft Unveils AI Strategy; Launches 4 Products and Reduces Database Footprint by 60%
Excelsoft Technologies has released a strategic update positioning AI as a growth lever rather than a structural threat to its IP-led business. The company has successfully launched 4 AI-first products and completed 9 customer pilots, supported by its own NVIDIA A6000 GPU infrastructure. Internal AI adoption has reached 1,112 employees, resulting in a 60% reduction in database footprint and millions of lines of code optimized. These initiatives are designed to improve operating margins and accelerate speed-to-market in the specialized education and assessment domain.
Key Highlights
Launched 4 AI-first products including AI-levate App Suite and Saras SchoolAI following 9 successful customer pilots.
Achieved significant engineering efficiency with a 60% reduction in database footprint and millions of lines of code optimized.
Invested in NVIDIA A6000 GPU infrastructure to enable full-stack AI capabilities from model fine-tuning to deployment.
Enabled 1,112 employees with 'Excelsoft GPT' and AI-assisted tools like Cursor and Lovable to drive productivity.
Developed a pipeline of 38 AI-first ideas and 16 functional prototypes specifically for the education sector.
๐ผ Action for Investors
Investors should track the conversion of the 9 customer pilots into revenue and monitor the impact of AI-driven engineering efficiencies on future operating margins. The company's investment in proprietary GPU infrastructure suggests a deeper competitive moat than peers relying solely on third-party AI APIs.
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Excelsoft Appoints Doreswamy Palaniswamy as CEO Effective April 1, 2026
Excelsoft Technologies has announced the appointment of Mr. Doreswamy Palaniswamy as the new Chief Executive Officer, effective April 1, 2026. Mr. Palaniswamy brings over 25 years of leadership experience from prominent organizations like Quess Corp and KPIT, along with entrepreneurial experience as a co-founder of CredoPay. A Chartered Accountant and IIM Bangalore alumnus, his focus will be on driving growth and transitioning the company into a scalable, platform-led business. This leadership change signals a strategic intent to expand into new industry verticals and strengthen institutional capabilities.
Key Highlights
Appointment of Mr. Doreswamy Palaniswamy as CEO effective April 01, 2026
Brings over 25 years of leadership experience across technology, services, and financial management
Educational credentials include Chartered Accountancy and a Masterโs Program from IIM Bangalore
Previous senior roles held at ISS, Quess Corp, SMS, and KPIT
Strategic focus on building a scalable, platform-led business and expanding industry verticals
๐ผ Action for Investors
Investors should view this as a positive step toward professionalizing leadership and should monitor the company's growth trajectory and strategic execution after the transition in April 2026.
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Excelsoft Appoints Doreswamy Palaniswamy as CEO Effective April 1, 2026
Excelsoft Technologies has appointed Mr. Doreswamy Palaniswamy as its new Chief Executive Officer, effective April 1, 2026. Mr. Palaniswamy brings over 25 years of leadership experience from established firms like Quess Corp and KPIT, and is a co-founder of CredoPay. His mandate includes driving growth, expanding into new industry verticals, and transitioning the company toward a scalable, platform-led business model. He is a Chartered Accountant and an IIM Bangalore alumnus with no current shareholding in the company.
Key Highlights
Appointment of Mr. Doreswamy Palaniswamy as CEO effective from April 01, 2026
Brings over 25 years of leadership experience across technology, services, and financial management
Previous senior roles held at ISS, Quess Corp, SMS, and KPIT, and co-founder of CredoPay
Educational credentials include ICAI membership and a Masterโs Program from IIM Bangalore
Strategic focus on driving growth and expanding into new industry verticals
๐ผ Action for Investors
Investors should monitor the company's transition toward a platform-led business model under the new CEO's leadership. Watch for upcoming quarterly guidance to assess if the management change accelerates expansion into new verticals.
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Excelsoft Appoints Retired IAS Officer Dr. J. Karuppusamy as Independent Director for 5 Years
Excelsoft Technologies has appointed Dr. Jayakumar Karuppusamy, a retired 1987-batch IAS officer and IIT/IIM alumnus, as an Independent Director for a five-year term effective March 10, 2026. Dr. Karuppusamy brings over two decades of experience in governance, technology, and administration, having served as Additional Chief Secretary and MD of State Bank of Sikkim. Alongside this appointment, the company has reconstituted its Audit and Nomination & Remuneration Committees, appointing Mr. Shivkumar Pundaleeka Divate as the new Audit Committee Chairperson. These leadership changes are aimed at strengthening the company's corporate governance and strategic oversight.
Key Highlights
Dr. Jayakumar Karuppusamy appointed as Independent Director for a 5-year term ending March 9, 2031
Appointee is a highly qualified professional with a PhD from IIT Kharagpur and a PGDM from IIM Bangalore
Mr. Shivkumar Pundaleeka Divate replaces Mr. Doreswamy Palaniswamy as Chairperson of the Audit Committee
Dr. Karuppusamy holds 4 Indian and 4 international patents and was recognized as an 'Amazing Indian' in 2023
The board meeting concluded in 41 minutes to approve these structural governance changes
๐ผ Action for Investors
Investors should view the addition of a high-profile former bureaucrat with technical and administrative expertise as a positive move for corporate governance. No immediate action is required, but this strengthens the board's oversight capabilities.
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Excelsoft Appoints Retired IAS Officer Dr. Jayakumar Karuppusamy as Independent Director
Excelsoft Technologies has appointed Dr. Jayakumar Karuppusamy, a retired IAS officer and IIT/IIM alumnus, as an Additional Independent Director for a five-year term effective March 10, 2026. The board also approved the reconstitution of the Audit and Nomination & Remuneration Committees, with Mr. Shivkumar Pundaleeka Divate taking over as the Audit Committee Chairperson. Dr. Jayakumar brings over 20 years of experience in governance, technology, and administration, which is expected to strengthen the company's strategic oversight. This appointment is subject to shareholder approval and aligns with efforts to enhance corporate governance.
Key Highlights
Dr. Jayakumar Karuppusamy appointed as Independent Director for a 5-year term ending March 09, 2031.
Appointee is a retired 1987-batch IAS officer with a Ph.D. from IIT Kharagpur and a PGDM from IIM Bangalore.
Mr. Shivkumar Pundaleeka Divate appointed as the new Chairperson of the Audit Committee.
Dr. Jayakumar Karuppusamy currently holds zero shares in the company.
The board meeting concluded within 41 minutes, approving changes to two key statutory committees.
๐ผ Action for Investors
Investors should view the addition of a highly qualified independent director with deep administrative and technology experience as a positive for corporate governance. No immediate action is required as this is a routine but significant board strengthening measure.
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Excelsoft Launches 'Saras Assessments in a Box' Globally for Assessment & Proctoring
Excelsoft Technologies Limited has announced the launch of its new product, 'Saras Assessments in a Box', on February 17, 2026. The product is categorized under Assessment and Proctoring Solutions and is designed to serve both domestic and international markets globally. Although the company stated the launch has not yet triggered the materiality threshold under SEBI regulations, it chose to disclose the event to uphold high corporate governance standards. This expansion reflects the company's focus on scaling its ed-tech product portfolio across global geographies.
Key Highlights
Launched 'Saras Assessments in a Box' on February 17, 2026, targeting the Assessment and Proctoring segment.
The product is designed for global availability, catering to both Indian and international markets.
The disclosure was made voluntarily as a measure of good corporate governance despite not meeting materiality thresholds.
The event was officially recorded at 17:21 IST on the date of the launch.
๐ผ Action for Investors
Investors should monitor the market reception and adoption rates of the Saras platform globally to assess its future contribution to revenue. While the current impact is non-material, it demonstrates the company's R&D capabilities and expansion intent.
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Excelsoft Reports 29.5% Revenue Growth in Q3 FY26; EdTech Services Surge 58%
Excelsoft Technologies reported a strong Q3 FY26 with revenue reaching Rs. 710 million, a 29.5% YoY increase driven by a 58% surge in EdTech services. While EBITDA grew 9.15% to Rs. 197 million, margins compressed to 27.7% from 32.8% due to higher vendor costs and professional fees. The company secured major international contracts in the Philippines and UK, reinforcing its shift toward a platform-led recurring revenue model. Notably, the company improved its financial flexibility by releasing a Rs. 165 crore FD lien and withdrawing a Rs. 300 crore corporate guarantee.
Key Highlights
Revenue grew 29.5% YoY to Rs. 710 million, with the EdTech services vertical growing 58% YoY.
EBITDA stood at Rs. 197 million with a 27.7% margin, impacted by a 61% rise in other expenses.
Released Rs. 165 crore FD lien and withdrew Rs. 300 crore corporate guarantee, significantly improving liquidity.
Secured a multi-year digital examination contract with the Civil Services Commission of the Philippines starting 2026.
Top 10 customers contribute 80% of revenue with an average tenure of 11 years, providing high cash flow predictability.
๐ผ Action for Investors
Investors should monitor the transition to a platform-led model and the impact of AI infrastructure investments on long-term margins. The release of significant contingent liabilities and the planned shift to a Big Four auditor are positive signals for governance and financial health.
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Excelsoft Q3 Revenue Jumps 29% YoY to โน710 Mn; 9M PAT Surges 88%
Excelsoft Technologies reported a robust 29.45% YoY revenue growth in Q3 FY26, reaching โน710.34 million, driven by strong momentum in Educational Technology Services. While Q3 PAT grew 7.68% to โน102.96 million, the nine-month (9M FY26) performance was exceptional with PAT surging 88.37% to โน267.81 million. The company is successfully expanding its global footprint, securing a major nationwide digital examination contract in the Philippines for 300,000+ annual candidates. However, EBITDA margins saw a contraction of 515 bps YoY in Q3 due to increased operational and employee expenses.
Key Highlights
Q3 FY26 Revenue from operations grew 29.45% YoY to โน710.34 million.
9M FY26 PAT increased significantly by 88.37% YoY to โน267.81 million.
North America remains the dominant market, contributing 72.2% of Q3 revenue compared to 62.1% last year.
Secured a strategic partnership with the Civil Service Commission of the Philippines for the CSC DeX initiative starting 2026.
EBITDA margins for Q3 FY26 compressed to 27.69% from 32.84% in Q3 FY25.
๐ผ Action for Investors
Investors should focus on the company's strong top-line growth and successful international expansion, particularly in the high-stakes assessment space. While margin compression in Q3 is a point of monitoring, the massive 9M profit growth and robust order pipeline suggest a positive long-term outlook.
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Excelsoft Q3 FY26: Net Profit Surges 40% YoY to โน13.34 Cr; 9M Profit Jumps 110%
Excelsoft Technologies reported a strong performance for Q3 FY26, with total income rising 29% YoY to โน75.68 crore and net profit increasing 40% YoY to โน13.34 crore. For the nine-month period (9M FY26), the company's net profit saw a massive 110% surge to โน29.83 crore, driven by operational efficiencies and growth in high-margin segments. Revenue remains heavily export-led, with North America contributing over 72% in Q3, while the company secured significant international contracts in the UK and Philippines. Despite the profit growth, EBITDA margins in Q3 FY26 contracted to 28% compared to 33% in the same quarter last year.
Key Highlights
9M FY26 Net Profit (bei) surged 110% YoY to โน29.83 crore from โน14.22 crore in 9M FY25.
Q3 FY26 Total Income grew 29% YoY to โน75.68 crore, with a 10% sequential growth over Q2.
North America remains the dominant market, accounting for 72.16% of Q3 revenue and 65.75% of 9M revenue.
Secured a major multi-year engagement with VTCT Skills (UK) for the Saras e-Testing platform and a strategic win in the Philippines.
EBITDA margins for Q3 stood at 28%, showing a slight improvement from Q2 (27%) but a decline from Q3 FY25 (33%).
๐ผ Action for Investors
Investors should focus on the company's strong international order book and the massive surge in 9M profitability as indicators of long-term value. However, monitoring the stabilization of EBITDA margins, which are lower than the previous year's levels, is recommended.
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Excelsoft Technologies Announces Major Management Restructuring and New CS Appointment
Excelsoft Technologies has announced a significant restructuring of its senior leadership team to align with a revised operating model. Five senior executives have been redesignated into C-suite roles, including Chief Strategy, Sales, Operating, Administrative, and Innovations Officers, to clarify accountability. Additionally, the company appointed Mr. S.M. Adithya Jain as the new Company Secretary and Chief Compliance Officer, effective March 02, 2026, following the resignation of Mr. Venkatesh Dayananda. The new appointee brings over 10 years of experience from reputable listed firms like Biocon and Kaynes Technology.
Key Highlights
Redesignated 5 Senior Management Personnel (SMP) to C-suite titles to improve accountability and operating efficiency
Appointed Mr. S.M. Adithya Jain as Company Secretary, Chief Compliance Officer, and Chief Investor Relations Officer
Mr. Venkatesh Dayananda resigned as CS and Compliance Officer effective February 27, 2026, to pursue an alternate career
New CS appointee has over a decade of experience with major listed entities including Biocon, Syngene, and Kaynes Technology
Management changes for SMPs are effective immediately as of the board meeting held on February 06, 2026
๐ผ Action for Investors
Investors should view this as a routine organizational alignment; however, the hiring of a Compliance Officer from large-cap backgrounds suggests a focus on strengthening corporate governance. Monitor for any shifts in operational execution following the new C-suite designations.
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Excelsoft Technologies Q3 FY26 Revenue Rises 10% QoQ to โน713.25M; Net Profit at โน91.19M
Excelsoft Technologies reported a steady performance for the quarter ended December 31, 2025, with revenue from operations growing 10.1% sequentially to โน713.25 million. The company successfully completed its IPO during the quarter, listing on November 26, 2025, and raising fresh capital for expansion and IT infrastructure. Net profit stood at โน91.19 million, which was impacted by a one-time exceptional charge of โน40.72 million related to the implementation of new Labour Codes. The company also announced key management changes, including the appointment of a new Company Secretary and Chief Investor Relations Officer.
Key Highlights
Revenue from operations grew 10.1% QoQ to โน713.25 million from โน647.55 million in the previous quarter.
Net profit for the quarter reached โน91.19 million, despite a โน40.72 million exceptional item for Labour Code compliance.
Successfully completed IPO in November 2025, issuing 1.5 crore fresh shares at โน120 each to raise โน1,800 million.
Utilized โน381.04 million of IPO proceeds by Dec 31, 2025, with โน1,267.88 million remaining for planned CAPEX and IT upgrades.
Management transition completed with the appointment of a new Company Secretary, Chief Compliance Officer, and Chief Investor Relations Officer.
๐ผ Action for Investors
Investors should monitor the efficient deployment of the remaining โน1,267.88 million IPO proceeds into planned infrastructure and IT upgrades. The underlying revenue growth is positive, though the impact of new labour regulations on long-term margins should be watched.
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Excelsoft Technologies Q3 Net Profit at โน110.3M; Revenue Up 10% QoQ Post-IPO
Excelsoft Technologies reported a standalone revenue of โน713.25 million for Q3 FY26, representing a 10% sequential growth from the previous quarter. The company achieved a net profit of โน110.30 million for the quarter, even after accounting for a one-time exceptional expense of โน40.72 million related to new Labour Code provisions. This is the company's first financial disclosure since its successful listing in November 2025, where it raised โน1,648.92 million through a fresh issue. Currently, about 77% of the IPO proceeds remain unutilized and are parked in fixed deposits for future capital expenditure.
Key Highlights
Revenue from operations for 9M FY26 reached โน1,918.40 million, up 17.5% from โน1,631.64 million in 9M FY25.
Reported an exceptional non-recurring hit of โน40.72 million due to gratuity and compensated absence adjustments under new Labour Codes.
Successfully completed IPO in Nov 2025 at โน120 per share, increasing paid-up share capital to โน1,150.84 million.
Utilized โน381.04 million of IPO proceeds primarily for land purchase and construction at the Mysore property.
Announced key management changes including the appointment of a new Company Secretary and Chief Investor Relations Officer.
๐ผ Action for Investors
Investors should track the timely utilization of the remaining โน1,267.88 million IPO funds intended for IT infrastructure and facility upgrades. The core revenue growth remains healthy, making it a positive start for the newly listed entity.
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Excelsoft Partners with Philippines CSC for Digital Exams; Initial Rollout of 50,000 Tests
Excelsoft Technologies has secured a partnership with the Civil Service Commission (CSC) of the Philippines and ASEAMETRICS to deliver the CSC Civil Service Digital Examination (CSC DeX). The project will utilize Excelsoft's SARAS eAssessment platform for an initial rollout of 50,000 tests starting in 2026. This digital transformation aims to replace legacy testing modes in a market where over 300,000 candidates participate in civil service exams annually. The contract highlights Excelsoft's ability to scale its AI-enabled proctoring and assessment solutions in international government sectors.
Key Highlights
Partnership with ASEAMETRICS to implement digital examinations for the Philippine Civil Service Commission.
Initial rollout phase scheduled for 2026 covering up to 50,000 tests.
Targeting a total addressable market of over 300,000 annual civil service candidates in the Philippines.
Deployment of proprietary SARAS and easyProctor platforms featuring AI-enabled remote monitoring.
Strategic shift from legacy paper-based testing to a scalable, cloud-based digital assessment system.
๐ผ Action for Investors
Investors should monitor the execution of the initial 50,000-test phase as a successful rollout could lead to capturing the full 300,000+ annual candidate volume. This international contract validates the company's SaaS-based assessment technology in the high-integrity government sector.
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Excelsoft Withdraws โน300 Cr Corporate Guarantee; Releases โน165 Cr Fixed Deposit
Excelsoft Technologies has successfully withdrawn a โน300 Crore corporate guarantee previously issued on behalf of its promoter, Pedanta Technologies, following the full repayment of NCDs. In addition to the guarantee withdrawal, a lien on the company's fixed deposit worth โน165 Crore has been released, making these funds available for the company's own use. This move significantly de-risks the balance sheet by reducing the company's contingent liability from over โน300 Crore to just โน3.43 Crore. The release of the fixed deposit provides a substantial boost to the company's immediate liquidity.
Key Highlights
Withdrawal of โน300 Crore unconditional and irrevocable corporate guarantee for promoter entity.
Release of lien on โน165 Crore fixed deposit, improving available cash for operations.
Total contingent liability reduced drastically to โน3.43 Crore from over โน300 Crore.
Guarantee and lien release follows the full repayment of NCDs by Pedanta Technologies Private Limited.
๐ผ Action for Investors
This is a significant positive development as it removes a major contingent risk and frees up โน165 Crore in cash. Investors should view this as a strengthening of the balance sheet and an improvement in corporate governance regarding promoter-related financial support.
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Excelsoft Technologies Q2 & H1 FY26 Earnings Call: Focus on AI and โน500 Cr IPO Utilization
Excelsoft Technologies, which recently listed in November 2025, held its maiden earnings call to outline its growth strategy and IPO proceeds utilization. The company raised โน500 crores, with โน180 crores from a fresh issue, and is earmarking โน62 crores for a new development center in Mysore. Management highlighted strategic global partnerships with UK-based AQA and VTCT Skills to develop AI-driven assessment solutions. The company currently serves over 200 organizations across 19 countries, focusing on high-stakes digital testing and learning platforms.
Key Highlights
Successfully listed on November 26, 2025, raising โน500 crores including a โน180 crore fresh issue.
Allocated โน62 crores for land and construction of a new development center and โน39.5 crores for upgrading existing infrastructure.
Formed a joint AI task force with AQA, a leading UK awarding body, to develop secure AI solutions for high-stakes assessments.
Maintains a dedicated 45-member R&D team focused on 'AI-levate' initiatives for automated scoring and proctoring.
Operates across 19 countries with a client base of 200+ organizations including universities and global publishers.
๐ผ Action for Investors
Investors should monitor the timely execution of the Mysore expansion and the revenue contribution from new AI-led global partnerships. As a newly listed entity, the company's ability to maintain margins while scaling its 'AI-levate' product suite will be a key performance indicator.
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Excelsoft H1 FY26 Net Profit Surges 254% YoY to โน16.49 Cr
Excelsoft Technologies reported strong Q2 and H1 FY26 results. H1 total income rose 12% YoY to โน128.77 crore. Net profit surged 254% YoY to โน16.49 crore, compared to โน4.65 crore in H1 FY25. Q2 total income was โน68.63 crore, up 20% YoY. EPS for H1 FY26 stood at โน1.65 compared to โน0.47 in H1 FY25.
Key Highlights
H1 FY26 Total Income: โน128.77 crore, up 12% YoY
H1 FY26 Net Profit: โน16.49 crore, up 254% YoY
Q2 FY26 Total Income: โน68.63 crore, up 20% YoY
Q2 FY26 EBITDA Margin: 27%
Top 5 clients contributed 63.88% in Q2
๐ผ Action for Investors
Investors should review the detailed financial results and consider the company's growth strategy in the digital learning and assessment solutions space. Monitor the company's ability to sustain this growth momentum and profitability in future quarters.
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Excelsoft Board Meeting Outcome: Financial Results for Sep 30, 2025 Approved
Excelsoft Technologies Limited's Board of Directors approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025. The consolidated revenue for the period April 1, 2025, to September 30, 2025, amounted to โน1,203.25 million. The consolidated net profit after tax for the same period was โน164.85 million. The financial results of foreign subsidiaries reflect total revenues of โน60.97 million and a total net profit after tax of โน9.26 million for the half year ended September 30, 2025.
Key Highlights
Consolidated revenue for H1 2026: โน1,203.25 million
Consolidated net profit after tax for H1 2026: โน164.85 million
Foreign subsidiaries' revenue for H1 2026: โน60.97 million
Foreign subsidiaries' net profit after tax for H1 2026: โน9.26 million
Equity share capital: โน1,000.84
๐ผ Action for Investors
Review the detailed financial results to understand the company's performance and monitor the revenue and profit growth, especially from the foreign subsidiaries. Investors should also pay attention to the auditor's comments regarding the sundry debtors and creditors.
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Excelsoft Technologies Reports H1 FY26 Consolidated Net Profit of โน164.85 Million
Excelsoft Technologies Limited reported its consolidated financial results for the half-year ended September 30, 2025, showing a revenue of โน1,203.25 million. The company posted a net profit of โน164.85 million for the same period, with foreign subsidiaries contributing โน9.26 million to the bottom line. The company's balance sheet remains healthy with total equity rising to โน3,876.94 million and substantial cash and bank balances exceeding โน2,570 million. However, the auditor noted that balances for sundry debtors and creditors are subject to confirmation and reconciliation.
Key Highlights
Consolidated revenue for H1 FY26 reached โน1,203.25 million.
Net profit after tax for the half-year period stood at โน164.85 million.
Strong liquidity position with cash and bank balances totaling approximately โน2,573.15 million.
Total assets increased to โน4,899.17 million as of September 30, 2025, up from โน4,704.85 million in March 2025.
Foreign operations in the USA, UK, and Singapore contributed โน60.97 million to the total revenue.
๐ผ Action for Investors
Investors should note the company's strong cash position and steady profitability; however, they should monitor the reconciliation of debtors and creditors as highlighted by the auditor.