INTELLECT

Current Performance & Pipeline - Q2 FY27 Total Income stood at ₹878 Cr with EBITDA of ₹199 Cr (22.7% margin) and PAT of ₹104 Cr. - Deal pipeline expanded by 9% YoY to ₹13,125 Cr, comprising 103 destiny deals; won 21 deals during the quarter (8 destiny deals). - LTM total income grew 17% YoY to ₹3,388 Cr, with license-linked revenue contributing 52%. Management Guidance & Outlook - Management expressed high confidence in crossing ₹900 Cr quarterly revenue run-rate in the next two quarters. - Reaffirmed target of reaching ₹4,000 Cr in revenue by FY28, with long-term revenue visibility extending toward ₹5,000 Cr. - Expects revenue growth of around 20% to translate into 40%-50% growth in margins via operating leverage. Growth Drivers & Innovation - Launched MSOCK (Multi-dimensional System of Connected Knowledge) with 39 patents filed; validated across 141 internal implementations, cutting delivery cycles significantly. - Actively pursuing large mainframe-to-cloud modernization deals with upward of double-digit million dollar deal sizes. - 7 of the 21 wins in Q2 were AI-led, showing increasing commercialization of AI offerings. Cost Structure & Operating Leverage - Quarterly cost base maintained stable at ~₹680 Cr; management guides operating costs to remain capped between ₹680-700 Cr in the near term. - Flow-through of incremental revenue to margins expected to push EBITDA margins toward 27%-30%. Capital Allocation & M&A - Cash and cash equivalents rose 31% YoY to ₹1,216 Cr. - Actively evaluating 3 to 4 targeted acquisitions in Latin America and Europe to acquire financial accounts and expand geographical footprint.