CSM Technologies Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript CSM Technologies Ltd filed with BSE on 31 Jul 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
CSM Technologies reported FY26 revenue of Rs. 226 crores, up 12% year-on-year, with EBITDA growing 57% to Rs. 48 crores and EBITDA margin expanding to 21% from 15%. Profit after tax rose 70% to Rs. 24 crores for the year, while Q4 FY26 revenue was Rs. 60 crores compared to Rs. 64 crores in the prior quarter. Management also disclosed an order book of Rs. 357.63 crores as of March 31, 2026, and a recommended final dividend of Rs. 0.5 per equity share.
Numbers mentioned
Revenue from operations: Rs. 226 crores (FY26)
p. 7
“For the full year, revenue from operations increased by 12% year-on-year to Rs. 226 crores, reflecting continued execution across our project portfolio.”
Neeraj Sahni, page 7 of the filed PDF · View the filing
EBITDA: Rs. 48 crores (FY26)
p. 7
“EBITDA grew 57% year-on-year to Rs. 48 crores, while EBITDA margin expanded significantly to 21% compared with 15% in Financial Year ‘25, driven by improved operating leverage and disciplined cost management.”
Neeraj Sahni, page 7 of the filed PDF · View the filing
Profit after tax: Rs. 24 crores (FY26)
p. 7
“Profit after tax for the year stood at Rs. 24 crores, representing a robust 70% year-on-year growth, while PAT margin improved to 10.5% compared with 7% in previous financial year.”
Neeraj Sahni, page 7 of the filed PDF · View the filing
Revenue from operations: Rs. 60 crores (Q4 FY26)
p. 7
“Revenue from operations stood at Rs. 60 crores.”
Neeraj Sahni, page 7 of the filed PDF · View the filing
EBITDA margin: 26.6% (Q4 FY26)
p. 7
“EBITDA increased 3% to Rs. 16 crores, with EBITDA margin expanded to 26.6% compared with 17.5% in corresponding quarter of the previous year.”
Neeraj Sahni, page 7 of the filed PDF · View the filing
PAT: Rs. 9 crores (Q4 FY26)
p. 7
“Similarly, PAT increased 7% to Rs. 9 crores, while PAT margin improved to 15.1% compared with 8.7% in Q4 FY25.”
Neeraj Sahni, page 7 of the filed PDF · View the filing
Exceptional charge: Rs. 2.7 crores (FY26)
p. 7
“During the year, the company recognized a one-time exceptional charge of Rs. 2.7 crores towards the statutory impact of new Labor Codes.”
Neeraj Sahni, page 7 of the filed PDF · View the filing
Final dividend: Rs. 0.5 per equity share (FY26)
p. 7
“I am also pleased to share that the Board of Directors has recommended a final dividend of Rs. 0.5 per equity share for Financial Year ‘26, subject to shareholders' approval at the forthcoming Annual General Meeting.”
Neeraj Sahni, page 7 of the filed PDF · View the filing
Order book: Rs. 357.63 crores (as of March 31, 2026)
p. 6
“So, as on 31st March 2026, our order books stood at Rs. 357.63 crores.”
Priyadarshi Pany, page 6 of the filed PDF · View the filing
Investment in intangible assets: Rs. 10 crores (FY26)
p. 6
“We also heavily invested into intangible assets up to Rs. 10 crores in asset under development reflecting our commitment to developing proprietary products and technology platforms.”
Priyadarshi Pany, page 6 of the filed PDF · View the filing
Investment in property, plant and equipment: Rs. 3.17 crores (FY26)
p. 6
“We also invested Rs. 3.17 crores towards property, plant equipment and that includes AI licenses, new hardware, cloud, new COTS licenses that are needed for our delivery team or R&D team to continuously keep on acquiring more and more skills around those tools and technologies.”
Priyadarshi Pany, page 6 of the filed PDF · View the filing
International revenue share: 5% (FY26)
p. 9
“Our international revenue I last year was 5% while the other businesses 9% was in export revenue in year Financial Year ‘25-26”
Priyadarshi Pany, page 9 of the filed PDF · View the filing
Order book booked in last quarter: Rs. 44 crores (Q4 FY26)
p. 9
“Last quarter alone if you look at the order book we clock around Rs. 44 crores because last quarters are always very high.”
Priyadarshi Pany, page 9 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Revenue and margins — FY27
stated as an aspiration by Priyadarshi Pany
p. 12
“While we are looking at revenues on an upside and the margins on a similar nature or on an upside for this year also, which is directly proportional to the kind of deals that we signed in this first two quarters.”
Priyadarshi Pany, page 12 of the filed PDF · View the filing
Order bookings
stated as an aspiration by Priyadarshi Pany
p. 12
“all that I can say is that with the buoyancy, as I said in my opening speech, with the spend, with the governments in Africa and in India, with the buoyancy, our order bookings are going to be better than last year.”
Priyadarshi Pany, page 12 of the filed PDF · View the filing
Deal execution from pipeline — end of Quarter 2
stated as an aspiration by Priyadarshi Pany
p. 12
“We feel by the end of Quarter 2; a lot of deals will be executed by your company.”
Priyadarshi Pany, page 12 of the filed PDF · View the filing
International revenue share — this year
stated as an aspiration by Priyadarshi Pany
p. 9
“I am sure that this percentage is now growing at a larger pace because of more deal bookings that have been done last year where the revenues will reflect in a better number this year.”
Priyadarshi Pany, page 9 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said mining remains one of the largest contributors, citing systems implemented across several Indian states and Kenya, with expected growth from mineral evacuation and ease-of-doing-business reforms.
Answered by Priyadarshi Pany
Asked by Shivam Gupta: Which industry vertical currently contributes the highest share of revenue and how will it evolve?
p. 8
“See, mining remains as one of the largest contributors to us.”
Priyadarshi Pany, page 8 of the filed PDF · View the filing
Management said contracts have shortened from around 5-8 years historically to about 3 years with possible extensions.
Answered by Priyadarshi Pany
Asked by Shivam Gupta: What is the typical duration of government contracts?
p. 9
“3 to 5 years, earlier it used to be 5 years Smart City Missions went for 8-9 years but now slowly and steadily it is getting contracted to 3 years on a max with an extension with an understanding of extension for 2 years extension.”
Priyadarshi Pany, page 9 of the filed PDF · View the filing
Management pointed to new orders and geographies outside Odisha, including Chhattisgarh, Delhi, Rajasthan, Malawi and Kenya.
Answered by Priyadarshi Pany
Asked by Vishal: What is the strategy to reduce revenue concentration from Odisha?
p. 9
“If you look at last year’s numbers on the order books we have been increasing our footprint in different places of the country.”
Priyadarshi Pany, page 9 of the filed PDF · View the filing
Management attributed the increase to slow government approval processes but said the company manages liquidity around this and expects improvement.
Answered by Priyadarshi Pany
Asked by Vishal: Why did days sales outstanding rise from 58 to 129 days?
p. 9
“So, typically the governments we all know are a little bit slow in approval processes.”
Priyadarshi Pany, page 9 of the filed PDF · View the filing
Management said the prior year had an exceptional order booking in Q2 and that the company historically performs better in Q3 and Q4.
Answered by Priyadarshi Pany
Asked by Devyanshu Varma: Why did revenue drop from Rs. 64 crores in Q3 to Rs. 60 crores in Q4?
p. 10
“See typically our revenues are always high, there was an exceptional year maybe last year.”
Priyadarshi Pany, page 10 of the filed PDF · View the filing
Management said international project margins are better despite higher expenses, while domestic modernization projects also offer improved margins.
Answered by Priyadarshi Pany
Asked by Khushi Hawaldar: How do margins from international projects compare with domestic projects?
p. 11
“International project margins are better, of course.”
Priyadarshi Pany, page 11 of the filed PDF · View the filing
Management gave the order book figure and described a healthy pipeline but declined to quantify upcoming deal sizes.
Answered by Priyadarshi Pany
Asked by Diya Jain: What is the current order book and pipeline, and can it be quantified?
p. 12
“Our order book is around 357 crores, which is like from the deals that we signed in last year, FY’25-26, and from the previous years.”
Priyadarshi Pany, page 12 of the filed PDF · View the filing
Risks flagged
Government approval processes cause delays in collections
p. 9
“So, typically the governments we all know are a little bit slow in approval processes.”
Priyadarshi Pany, page 9 of the filed PDF · View the filing
Revenue seasonality tied to government spending cycles
p. 10
“the government processes are such that in the last two quarters only, we have higher revenues.”
Priyadarshi Pany, page 10 of the filed PDF · View the filing
One-time exceptional charge from new Labor Codes impacted profitability
p. 7
“During the year, the company recognized a one-time exceptional charge of Rs. 2.7 crores towards the statutory impact of new Labor Codes.”
Neeraj Sahni, page 7 of the filed PDF · View the filing
AI implementation in government requires high accuracy in decision-making
p. 11
“But AI has a challenge because the government has to be very accurate with their decision-making using AI.”
Priyadarshi Pany, page 11 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.