Xelpmoc Design and Tech Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Xelpmoc Design and Tech Ltd filed with BSE on 05 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
Xelpmoc reported consolidated operating revenue of INR10.8 million for Q4 FY26, up from INR7.1 million in Q4 FY25 but down from INR11.2 million in Q3 FY26, with all revenue coming from the corporate segment. Operating EBITDA adjusted was negative INR15.6 million and net loss was INR17.8 million for the quarter, including ESOP expenditure of INR2.4 million. Management discussed progress on its two new products, DocuXray and RELY, updates on portfolio companies including Mihup, Woovly, Pencil, TSIM, KSP, Zoop.Money and OsteoForge, and stated the fair value of its start-up investments stood at approximately INR726.8 million as of March 31, 2026.
Numbers mentioned
Consolidated operating revenue: INR10.8 million (Q4 FY26)
p. 3
“Our consolidated operating revenue for the quarter was recorded INR10.8 million for Q4 FY26 as compared to INR7.1 million in Q4 FY25 and INR11.2 million in Q3 FY26.”
Srinivas Koora, page 3 of the filed PDF · View the filing
Operating EBITDA adjusted: negative INR15.6 million (Q4 FY26)
p. 3
“Operating EBITDA adjusted for the quarter was negative INR15.6 million as compared to negative INR15.3 million in Q4 FY25 and negative INR14.9 million in Q3 FY26.”
Srinivas Koora, page 3 of the filed PDF · View the filing
Net loss: INR17.8 million (Q4 FY26)
p. 3
“Net loss for the quarter was INR17.8 million, partially due to INR2.4 million of ESOP expenditure.”
Srinivas Koora, page 3 of the filed PDF · View the filing
Team size: 63 (Q4 FY26)
p. 4
“Our team size is about 63, including employees, interns, consultants as compared to 59 in Q3 FY26.”
Srinivas Koora, page 4 of the filed PDF · View the filing
Fair value of portfolio investments: approximately INR726.8 million (as of 31st March 2026)
p. 4
“The fair value of our investments in portfolio companies stood approximately INR726.8 million as of 31st March 2026 as compared to INR631.8 million as on 31st March 2025.”
Srinivas Koora, page 4 of the filed PDF · View the filing
Mihup contracted ARR: INR1 billion
p. 4
“Mihup currently has contracted ARR of INR1 billion.”
Srinivas Koora, page 4 of the filed PDF · View the filing
Live2.ai ARR: USD4.1 million
p. 4
“Currently, it is achieving an impressive USD4.1 million ARR with 245 brands utilizing the platform and operating at an EBITDA positive status.”
Srinivas Koora, page 4 of the filed PDF · View the filing
Pencil revenue: INR320 lakhs (January to March '26)
p. 4
“Its revenue for January to March '26 was INR320 lakhs.”
Srinivas Koora, page 4 of the filed PDF · View the filing
TSIM revenue: INR3.4 crores (FY26)
p. 5
“It has recorded a revenue of INR3.4”
Srinivas Koora, page 5 of the filed PDF · View the filing
KSP revenue: INR201 lakhs (FY26)
p. 5
“It has recorded a revenue of INR201 lakhs in FY26.”
Srinivas Koora, page 5 of the filed PDF · View the filing
Total value of start-up investments: INR72.67 crores
p. 15
“Just a correction, the fair market value is about INR72.67 crores. It's not INR79 crores as stated.”
Srinivas Koora, page 15 of the filed PDF · View the filing
Cash runway: 10 to 12 months
p. 12
“So right now, runway is available for close to about 10 to 12 months.”
Srinivas Koora, page 12 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 traction — next few quarters
stated as an aspiration by Srinivas Koora
p. 3
“However, the conversation is expected to take some time, hence, we expect our revenues to gradually start getting traction over the next few quarters.”
Srinivas Koora, page 3 of the filed PDF · View the filing
EBITDA profitability — EBITDA profitable
stated as an aspiration by Srinivas Koora
p. 6
“We are committed to achieving EBITDA profitable as soon as possible.”
Srinivas Koora, page 6 of the filed PDF · View the filing
New start-up onboarding
stated conditionally by Srinivas Koora
p. 6
“At this time, we are not looking to onboard new start-ups unless we encounter exceptionally some good opportunities.”
Srinivas Koora, 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.
Management declined to disclose future numbers and instead described qualitative progress on DocuXray and RELY.
Answered by Srinivas Koora
Asked by Siddharth Shah: Can management provide FY27 targets for DocuXray and RELY customers and a timeline to EBITDA breakeven?
p. 6
“Yes. Thank you very much for your question. But as you know that we will not be able to disclose any future numbers.”
Srinivas Koora, page 6 of the filed PDF · View the filing
Management said 2 to 3 POCs have been completed with another 2 to 3 ongoing, and conversion from POC to order booking is taking time.
Answered by Srinivas Koora
Asked by Raghavendra Rao: What was the outcome of the POCs discussed last quarter and how many converted into orders?
p. 10
“Basically, we have done -- as we speak, we must have done close to about 2 to 3 POCs and another 2 to 3 POCs are going on.”
Srinivas Koora, page 10 of the filed PDF · View the filing
Management said headcount cannot currently be directly correlated to revenue since many employees are working on products that have not yet generated revenue.
Answered by Srinivas Koora
Asked by Puneet: With a much smaller team now versus when revenue was INR14 crores, can the company scale revenue back up with fewer people?
p. 12
“See, right now, we cannot exactly correlate number of people versus revenue.”
Srinivas Koora, page 12 of the filed PDF · View the filing
Management said no salespeople have been hired yet and instead the company is working with GTM partner companies on a revenue-share basis.
Answered by Srinivas Koora
Asked by Puneet: Has the company hired a sales team as previously discussed?
p. 12
“So again, just to answer your query, what we are doing right now is since both the products at the nascent stage, we have not yet hired any salespeople within the company.”
Srinivas Koora, page 12 of the filed PDF · View the filing
Management said the company is operational but has found it hard to sell given wariness around AI in the EdTech sector, and is exploring adjacent opportunities like corporate training.
Answered by Sandipan Chattopadhyay
Asked by Wayne Fernandes: What is the current status of Signal Analytics?
p. 13
“It is operational. And -- but we have been finding it very hard to sell, which we have given a note of that the EdTech sector and anything which sounds like an automated process, there's a wariness on that part.”
Sandipan Chattopadhyay, page 13 of the filed PDF · View the filing
Risks flagged
Volatility in start-up funding within the emerging technology sector continues to pose challenges
p. 3
“We are still seeing challenges in the start-up sector due to volatility in the funding within the emerging technology sector.”
Srinivas Koora, page 3 of the filed PDF · View the filing
Confusion in the market about AI adoption is lengthening sales cycles for DocuXray
p. 6
“But these are long cycles because there's a lot of confusion about AI as a whole and all.”
Sandipan Chattopadhyay, page 6 of the filed PDF · View the filing
Wariness toward automated/AI-sounding products in the EdTech sector is hurting Signal Analytics sales
p. 13
“there's a wariness on that part.”
Sandipan Chattopadhyay, page 13 of the filed PDF · View the filing
The start-up ecosystem continues to face significant challenges
p. 6
“The start-up ecosystem continues to experience significant challenges, and we are focusing on scaling up Xelp's own products and services.”
Srinivas Koora, page 6 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.