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Earnings Call Transcript

Ceinsys Tech Earnings Call Transcript: Key Takeaways

Ceinsys Tech reported a flat top line but significant EBITDA margin expansion to 24.4%. High order book visibility exists, though cash conversion remains a persistent concern due to government receivables.

Highlights
Revenue growthFlat YoY at ₹158 Cr; marginal 1% growth registered.
MarginsStrong expansion: EBITDA margins hit 24.4%, up 505 bps YoY.
Order bookRobust ₹990 Cr; execution split between Capex (18mo) and Opex (5yr).
Demand visibilityStrong funnel in Geospatial and AI; government digital infrastructure leads.
Management confidenceBalanced; optimistic on AI/Digital but defensive on stalled cash flows.

Growth

Revenue stayed flat at ₹158 Cr; however, EBITDA grew 27% YoY driven by efficiency.

Outlook

Order book stands at ₹990 Cr with 12-18 month execution timelines; ₹25 Cr AI JV planned.

Risks

High unbilled revenue (₹320 Cr) and stalled cash flow from government projects like Jal Jeevan Mission.

Last quarter's promises, checked

Delivered

  • VTS Revenue Growth → 2x jump achieved (₹158Cr total revenue vs ₹171Cr prev) (= BEAT)
  • EBITDA Margin Expansion → Hit 24.4% vs 21.9% FY26 guidance (= BEAT)
  • Subsidiary Breakeven → Consolidated margins improved YoY (= BEAT)

Partly delivered

  • Order Book Execution → ₹990Cr book vs ₹876Cr prev; execution timelines 12-18mo (= PARTIAL)

Missed

  • Revenue Growth → Flat ₹158Cr vs ₹661Cr FY26 base (implied growth stalled) (= MISS)
  • Unbilled Revenue Reduction → Increased to ₹320Cr vs ₹330Cr/₹350Cr range (= MISS)
Source

Earnings Call Transcript filed with NSE, NSE: CEINSYS. Summary written with AI assistance from the document.

Read the document ↗

Ceinsys Tech Ltd: key numbers

Share price
₹688.90
Market cap
₹1,442 Cr
Revenue (annual)
₹660.7 Cr
Net profit (annual)
₹133.4 Cr
P/E (TTM)
10.9×Sector 22.1×
Promoter holding
50.87%+0.00% QoQ
FII holding
10.05%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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