Saksoft Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Saksoft Ltd filed with BSE on 02 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
Saksoft reported Q4 FY26 revenue of around INR 249 crores, up approximately 4% year-on-year, with EBITDA margins expanding to 18.19% and net profit growing 20% year-on-year. For the full year, revenue crossed INR 1,000 crores, growing nearly 14% year-on-year, with EBITDA growing around 28% and net profit growing 23%. Management discussed elongated customer decision-making cycles related to AI adoption, a pipeline that has grown to around USD 25 million from about USD 5 million six months earlier, and continued focus on growing wallet share within existing top accounts toward a 2030 revenue target of $500 million.
Numbers mentioned
Revenue: around INR 249 crores (Q4 FY26)
p. 3
“For the fourth quarter of the Financial Year 2026, the revenue from operations stood at around INR 249 crores, registering a growth of approximately 4% year-on-year and a decrease of about 0.8% quarter-on-quarter.”
Niraj Kumar, page 3 of the filed PDF · View the filing
EBITDA: INR 45 crores (Q4 FY26)
p. 3
“The EBITDA for the quarter stood at INR 45 crores, reflecting a healthy growth of 24% yearon-year, while the EBITDA margins improved to 18.19% from 15.17%, representing an expansion of 301 basis points year-on-year.”
Niraj Kumar, page 3 of the filed PDF · View the filing
Net Profit: approximately INR 36 crores (Q4 FY26)
p. 3
“The Net Profit for the quarter stood at approximately INR 36 crores, registering a growth of 20% year-on-year with the Profit after tax margins improving to 14.44%, being an expansion of around 192 basis points year-on-year.”
Niraj Kumar, page 3 of the filed PDF · View the filing
Revenue: around INR 1,007 crores (FY26)
p. 3
“For the full Financial year 2026, the operating revenue stood at around INR 1,007 crores, registering a strong growth of nearly 14% year-on-year.”
Niraj Kumar, page 3 of the filed PDF · View the filing
EBITDA: INR 187 crores (FY26)
p. 3
“The EBITDA for the year stood at INR 187 crores, reflecting a healthy growth of around 28% year-on-year while EBITDA margins improved to 18.57% from 16.56%, representing an expansion of 201 basis points year-on-year.”
Niraj Kumar, page 3 of the filed PDF · View the filing
Net Profit: INR 133 crores (FY26)
p. 3
“The Net Profit for the year was at INR 133 crores, registering a robust growth of 23% year-onyear with the Profit after tax margins improving to 13.23%, which represents an expansion of 91 basis points year-on-year.”
Niraj Kumar, page 3 of the filed PDF · View the filing
Net cash and bank balance: around INR 223 crores (as on 31st March 2026)
p. 3
“We are also pleased to highlight that our net cash and bank balance is positive at around INR 223 crores as on 31st March 2026 indicating a healthy cash generation and liquidity to support our strategic investments and growth initiatives, which is required to meet our US$500 million”
Niraj Kumar, page 3 of the filed PDF · View the filing
Employee count: 2,494 (end of Q4 FY26)
p. 3
“The total employee count at the end of the quarter stood at 2,494, out of which 2,277 were technical with the utilization level of employees, excluding trainees being at 83% for the full Financial Year.”
Niraj Kumar, page 3 of the filed PDF · View the filing
Pipeline: in the region of USD 25 million (current)
p. 6
“Vikas, the pipeline that we have today is in the region of USD 25 million. It's the highest we have ever had.”
Aditya Krishna, page 6 of the filed PDF · View the filing
$1 million+ customers: 16 (FY26)
p. 3
“Coming to some of our customer metrics, we have around 16 customers of US$1 million plus revenue.”
Niraj Kumar, page 3 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 growth — 30% · FY27
stated as an aspiration by Aditya Krishna
p. 8
“We are shooting for 30% growth. Now will 30% happen? It's going to be a tough call.”
Aditya Krishna, page 8 of the filed PDF · View the filing
Revenue growth — 14%, 15% · FY27
stated conditionally by Aditya Krishna
p. 12
“I think 14%, 15% given where we are on the pipeline should be the bare minimum we should achieve.”
Aditya Krishna, page 12 of the filed PDF · View the filing
EBITDA margin — around 17%, 18% · FY27
stated conditionally by Niraj Kumar
p. 17
“Like we said, our EBITDA margins are around 17%, 18%. And our expectation is it will be around the same level.”
Niraj Kumar, page 17 of the filed PDF · View the filing
Utilization — 85%
stated as an aspiration by Aditya Krishna
p. 11
“So I would say 85%, Bharat is probably the highest number that we can probably aim for.”
Aditya Krishna, page 11 of the filed PDF · View the filing
Bottom-line margin guidance — FY27
stated firmly by Aditya Krishna
p. 9
“No guidance on that.”
Aditya Krishna, page 9 of the filed PDF · View the filing
Chief Growth Officer for U.K. and Europe hire — end of June
stated firmly by Aditya Krishna
p. 6
“And we have a Chief Growth Officer for U.K. and Europe joining us end of June.”
Aditya Krishna, page 6 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.
Growth is picking up but customer decision-making remains slow due to AI-related uncertainty; pipeline is strong.
Answered by Aditya Krishna
Asked by Bharat Gulati: Is sequential growth picking back up as we enter FY27?
p. 4
“Growth is picking up, Bharat. But like I mentioned in my statement, decision-making by customers is getting deferred because of all the noise around AI.”
Aditya Krishna, page 4 of the filed PDF · View the filing
Acquisitions would be funded with internal accruals and limited borrowing, capped around INR 100 crores in target revenue.
Answered by Aditya Krishna
Asked by Bharat Gulati: What is the appetite and size for potential acquisitions?
p. 4
“So if we buy anything, it will be, I would say the maximum would be a top line of INR 100 crores.”
Aditya Krishna, page 4 of the filed PDF · View the filing
Management will try to maintain margins but flagged possible slight compression from AI investment and pricing pressure at renewals.
Answered by Aditya Krishna
Asked by Bharat Gulati: Will 17-18% EBITDA margin sustain into FY27?
p. 4
“We're going to try and maintain it. There might be a little bit of a dip, Bharat, because of 2 reasons.”
Aditya Krishna, page 4 of the filed PDF · View the filing
Pipeline grew from about USD 5 million six months ago to USD 25 million now, credited to a new U.S. leadership hire.
Answered by Aditya Krishna
Asked by Vikas Shrivastava: How has the pipeline changed over the past 6 months to a year?
p. 6
“I would have said, I would say 6 months ago, we would have been with a pipeline of USD 5 million.”
Aditya Krishna, page 6 of the filed PDF · View the filing
Outcome-based billing is around 10% currently, with the rest still time and material.
Answered by Aditya Krishna
Asked by Vikas Shrivastava: What is the current mix of outcome-based versus time-and-material billing?
p. 7
“Outcome-based today would be I would say, maybe about 10% only. And the rest is all time and material because historically, that is how this industry has grown and evolved, and that has been the traditional model.”
Aditya Krishna, page 7 of the filed PDF · View the filing
Management said no significant capex is required given existing cash generation capacity.
Answered by Aditya Krishna
Asked by Piyush: What investments are needed to achieve the Vision 2030 $500 million revenue target?
p. 8
“So there is really no significant capex, which will be required to get us to the number of $500 million by 2030.”
Aditya Krishna, page 8 of the filed PDF · View the filing
About 3 percentage points came from currency, with 95-98% of growth coming from existing customers via volume increases, not pricing.
Answered by Aditya Krishna
Asked by Jeet Shah: How much of last year's 14.10% revenue growth came from rupee depreciation versus existing customers?
p. 10
“Rupee appreciation? no, rupee depreciation, right? So out of 14%, 3% you can take as currency.”
Aditya Krishna, page 10 of the filed PDF · View the filing
95-98% of growth is expected from existing top 20 customers, which contribute about 70% of revenue.
Answered by Aditya Krishna
Asked by Sahil Sanghvi: What percentage of future growth is expected from existing versus new clients?
p. 10
“Our top 20 customers give us about 70% of our revenue, okay? We would like that to increase or remain at that same level as we grow top line.”
Aditya Krishna, page 10 of the filed PDF · View the filing
Management believes 85% is likely the cap for utilization under current measurement, with a persistent bench needed.
Answered by Aditya Krishna
Asked by Bharat Gulati: Will utilization move toward 90% and headcount continue to trend down?
p. 11
“So I would say 85%, Bharat is probably the highest number that we can probably aim for.”
Aditya Krishna, page 11 of the filed PDF · View the filing
The prior year included a bad debt provision for a U.S. customer that went bust; this year had no such provision.
Answered by Niraj Kumar
Asked by Rohit: Why have other expenses declined year-on-year and sequentially?
p. 17
“Last year, we had one of the customers which had gone bust in the last quarter of the financial year, and there was a provision for bad debts, which were made.”
Niraj Kumar, page 17 of the filed PDF · View the filing
The acquisitions, focused on Salesforce and ServiceNow capabilities, have contributed to growth and are expected to continue growing.
Answered by Niraj Kumar
Asked by Zikriyar: How are the Zetechno and Ceptes acquisitions performing?
p. 16
“These acquisitions, which we did in '24, '25, they have been doing pretty well. And some of the growth which you have seen in the current year is also on account of the revenue which has been generated from those acquisitions.”
Niraj Kumar, page 16 of the filed PDF · View the filing
Risks flagged
Elongated customer decision-making cycles due to AI-related uncertainty
p. 2
“While our sales pipeline remains strong, customer decisionmaking cycles have become relatively elongated amid the increasing focus and evolving conversations around AI.”
Aditya Krishna, page 2 of the filed PDF · View the filing
Margin compression from AI investment and renewal pricing pressure
p. 4
“There might be a little bit of a dip, Bharat, because of 2 reasons. One, we're investing in AI. And customers are expecting at renewal time contracts to be revised at a lower price because of the AI productivity that AI warrants.”
Aditya Krishna, page 4 of the filed PDF · View the filing
Risk of client consolidation if wallet share is not increased
p. 5
“if we don't increase our wallet share, there is always a risk of getting consolidated out when there is a vendor consolidation.”
Aditya Krishna, page 5 of the filed PDF · View the filing
Uncertainty about future cost of AI potentially exceeding human cost
p. 7
“there is already talk that AI costs more than humans. Now I don't know how that will play out.”
Aditya Krishna, page 7 of the filed PDF · View the filing
Risk from customers building in-house GCCs reducing need for vendors like Saksoft
p. 14
“If you were to ask me that question in the context of GCCs, are you worried about GCCs? I would say yes, because customers are opening GCCs and doing some of their work in-house, okay?”
Aditya Krishna, page 14 of the filed PDF · View the filing
Customer resistance to moving away from traditional time-and-material delivery model
p. 11
“To be honest, some customers are still resisting moving away from the traditional model.”
Aditya Krishna, 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.