Network People Services Technologies Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Network People Services Technologies Ltd filed with BSE on 01 Jun 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
Network People Services Technologies reported Q4 FY26 revenue growth of about 2.4x year-on-year to Rs 68.46 crore, with EBITDA of Rs 19.26 crore and net profit of Rs 12.24 crore. For the full year FY26, revenue was about Rs 209 crore, EBITDA about Rs 65 crore and net profit about Rs 41 crore. Management described FY26 as a year of transformation involving a shift from PPaaS to TSP business, regulatory de-risking, and investment in AI, SaaS and international expansion, while outlining a three-year revenue CAGR target and a change in business mix going forward.
Numbers mentioned
Revenue: about 68.46 crore (Q4 FY26)
p. 4
“Our revenue has grown by about 2.4x year-on-year to about 68.46 crore.”
Deepak Chand Thakur, page 4 of the filed PDF · View the filing
EBITDA: INR 19.26 crore (Q4 FY26)
p. 4
“Our EBITDA has increased to INR 19.26 crore and net profit has doubled compared to last year to about INR 12.24 crore.”
Deepak Chand Thakur, page 4 of the filed PDF · View the filing
Net profit: about INR 12.24 crore (Q4 FY26)
p. 4
“Our EBITDA has increased to INR 19.26 crore and net profit has doubled compared to last year to about INR 12.24 crore.”
Deepak Chand Thakur, page 4 of the filed PDF · View the filing
Revenue: INR 209 crore (FY26)
p. 4
“Our FY26 performance, like we said it's about INR 209 crore now, I mean it's over 200 crore which we were targeting.”
Deepak Chand Thakur, page 4 of the filed PDF · View the filing
EBITDA: about INR 65 crores (FY26)
p. 4
“EBITDA about INR 65 crores and net profit about INR 41 crore.”
Deepak Chand Thakur, page 4 of the filed PDF · View the filing
Net profit: about INR 41 crore (FY26)
p. 4
“EBITDA about INR 65 crores and net profit about INR 41 crore.”
Deepak Chand Thakur, page 4 of the filed PDF · View the filing
Revenue CAGR (past 4 years): about 81% (last 4 years)
p. 4
“Over the past year, last 4 years, if we see consolidated, our revenue has grown with about 81% CAGR.”
Deepak Chand Thakur, page 4 of the filed PDF · View the filing
EBITDA CAGR (past 4 years): about 103% (last 4 years)
p. 4
“EBITDA with about 103% and profit about 128% in 4 years operations.”
Deepak Chand Thakur, page 4 of the filed PDF · View the filing
Profit CAGR (past 4 years): about 128% (last 4 years)
p. 4
“EBITDA with about 103% and profit about 128% in 4 years operations.”
Deepak Chand Thakur, page 4 of the filed PDF · View the filing
International business in kitty for FY27: almost 40% (FY27)
p. 7
“Almost 40% is in our kitty right now at the beginning of the year.”
Deepak Chand Thakur, page 7 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 — INR 850 crores to INR 900 crores · by end of FY29
stated as an aspiration by Deepak Chand Thakur
p. 6
“We are in the range of INR 850 crores to INR 900 crores by the end of FY29.”
Deepak Chand Thakur, page 6 of the filed PDF · View the filing
Revenue CAGR — 70% · next 3 years
stated as an aspiration by Deepak Chand Thakur
p. 5
“In future, we see about 70% CAGR growth for the next 3 years which shifts from low-margin to high-margin metrics and increasing contribution from international market, SaaS and subscription models and AI-driven products.”
Deepak Chand Thakur, page 5 of the filed PDF · View the filing
SaaS tenants on hosted engine — at least 200 tenants · by FY29
stated as an aspiration by Deepak Chand Thakur
p. 4
“Investment into SaaS-based hosted engine will trigger at least 200 plus tenants by FY29 in TSP verticals.”
Deepak Chand Thakur, page 4 of the filed PDF · View the filing
FY27 revenue — Anywhere around that, 70% should look good · FY27
stated as an aspiration by Deepak Chand Thakur
p. 7
“Anywhere around that, 70% should look good. That's what we are targeting.”
Deepak Chand Thakur, page 7 of the filed PDF · View the filing
AI efficiency improvement in support functions — 30%
stated as an aspiration by Deepak Chand Thakur
p. 4
“We have target to improve efficiency by 30% in support functions, accelerate development by 50% and enhance capacity by 1.5x more from the existing business.”
Deepak Chand Thakur, page 4 of the filed PDF · View the filing
Revenue per employee metric — 300% · next 3 years
stated as an aspiration by Deepak Chand Thakur
p. 4
“This will help improve revenue per employee matrix by 300% in next 3 years.”
Deepak Chand Thakur, page 4 of the filed PDF · View the filing
EBITDA margin improvement — incremental 10% to about 40%-50% over existing EBITDA · over the next three years
stated as an aspiration by Deepak Chand Thakur
p. 12
“So, the range is very clear. We have to improve year onwards and it can start kicking in by about over the existing EBITDA, the EBITDA margin incremental 10% to about 40%-50% somewhere at the end.”
Deepak Chand Thakur, page 12 of the filed PDF · View the filing
PAT margin recovery — back to 25% · this financial year and further improvement over next two years
stated conditionally by Deepak Chand Thakur
p. 8
“I believe that by this financial year, we are back on it. But definitely, this will be much better when it comes to the next two years that we are projecting.”
Deepak Chand Thakur, page 8 of the filed PDF · View the filing
Trade receivable days — around 180 days
stated conditionally by Ashish Aggarwal
p. 12
“It should be and it will reduce. So, I think as and when the total mix will change, this will reduce gradually.”
Ashish Aggarwal, page 12 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 attributed the negative cash flow to a shift from PPaaS to TSP business with longer debtor periods, expecting improvement as the mix shifts internationally.
Answered by Ashish Aggarwal
Asked by Akshay Sinha: Why was operating cash flow negative in FY26 and what EBITDA-to-cash conversion is expected going forward?
p. 5
“Actually, as Deepak has already told, this year's transformation, we have shifted from PPaaS to TSP. That's the reason the average debtor period is high.”
Ashish Aggarwal, page 5 of the filed PDF · View the filing
Management said confidence is high due to a strong funnel of SaaS tenants, international accounts and PPaaS additions.
Answered by Deepak Chand Thakur
Asked by Akshay Sinha: How confident is management in the 70% CAGR guidance given weak Q4 EBITDA margin?
p. 6
“The confidence on 70% CAGR for three years is high because we have a very, very strong funnel.”
Deepak Chand Thakur, page 6 of the filed PDF · View the filing
Management gave an absolute revenue range for FY29 based off the FY26 base.
Answered by Deepak Chand Thakur
Asked by Rajkumar Vaidyanathan: What absolute revenue numbers underlie the 70% CAGR guidance for FY27-29?
p. 6
“We are in the range of INR 850 crores to INR 900 crores by the end of FY29.”
Deepak Chand Thakur, page 6 of the filed PDF · View the filing
Management said some deals were rejected after due diligence and the focus remains on deals offering global presence and execution capability, or expansion beyond payments into areas like DPDP and lending.
Answered by Deepak Chand Thakur
Asked by Ketan Patil: What are plans for the funds raised from Tata Mutual Fund for inorganic growth?
p. 8
“There are a couple of deals we have said no right now after the due diligence and some of the discussions we had over a period of time.”
Deepak Chand Thakur, page 8 of the filed PDF · View the filing
Management explained that high margin means about double the domestic margin, and very high margin is more than double.
Answered by Deepak Chand Thakur
Asked by Nandan Kumar: What margin differential exists between domestic and international business?
p. 9
“So, when it comes to high margin, we believe anything which is over 70% from the existing margin that we are able to get in India, that's high margin for us.”
Deepak Chand Thakur, page 9 of the filed PDF · View the filing
Management said EBITDA margin should improve incrementally, potentially by 10% to 40-50% over the existing level as new business blocks scale.
Answered by Deepak Chand Thakur
Asked by Rajiv Sehgal: What EBITDA margin trajectory can be expected across the next three years given the shift to higher-margin international business?
p. 12
“I believe that the EBITDA margin will start improving from nothing less than 10% higher.”
Deepak Chand Thakur, page 12 of the filed PDF · View the filing
Management attributed the decline to the mix shift from higher-margin PPaaS to lower-margin TSP business.
Answered by Deepak Chand Thakur
Asked by Ragat Jain: Why did EBITDA margin and net profit decline despite strong revenue growth in Q4?
p. 14
“So, one of the main reasons last year has definitely been our revenue going down from the high margin PPaaS business to a low margin TSP business.”
Deepak Chand Thakur, page 14 of the filed PDF · View the filing
Management said this is because NPST's product is more advanced than what is available in the target markets, commanding a premium.
Answered by Deepak Chand Thakur
Asked by Saurabh Shah: Why are international margins higher than domestic margins?
p. 15
“Majorly because the product that we have built is for 2026 India. And the country that we are looking at is somewhere in 2020, 2018.”
Deepak Chand Thakur, page 15 of the filed PDF · View the filing
Risks flagged
Longer credit/debtor periods from the TSP business model affecting cash flow
p. 5
“That's the reason the average debtor period is high.”
Ashish Aggarwal, page 5 of the filed PDF · View the filing
PPaaS revenue underperformance relative to effort invested
p. 13
“But honestly, we are not getting the kind of results. The result versus the effort is not great.”
Deepak Chand Thakur, page 13 of the filed PDF · View the filing
Unfavorable payment terms in some international license deals leading to deals being declined
p. 15
“And there were some of the opportunities where we felt this wouldn't be feasible for organizations, the payment, the trade receivable that we are talking about. So, we decided to let go such deals.”
Deepak Chand Thakur, page 15 of the filed PDF · View the filing
Margin impact from shift in business mix from high-margin PPaaS to low-margin TSP
p. 14
“So, one of the main reasons last year has definitely been our revenue going down from the high margin PPaaS business to a low margin TSP business.”
Deepak Chand Thakur, page 14 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.