| Revenue growth | H1 revenue +17.8%; Q2 sequentially flat per analyst; organic ex-AJE research +22%. |
|---|---|
| Margins | Group 34.3% in Q2 and H1; Research 48.2%, up 6+ points YoY; Unbound ~18%. |
| Order book | Education bookings led by Florida adoption; order book figures not stated. |
| Demand visibility | Research mandates bill from Nov–Dec; Florida math adoption leads education bookings. |
| Management confidence | Over-optimistic: adjective-heavy ('hyperactive', 'heartwarming') while FY28 acquisitions lag. |
Growth
H1 revenue +17.8% and EBITDA +39%. Analyst flagged near-flat sequential Q2 revenue; management attributes this to mandate billing timing.
Outlook
FY27 EBITDA floor raised to at least ₹310 Cr from 'comfortably above ₹300 Cr'. FY28 ₹1,500 Cr revenue target retained, including acquisitions.
Risks
Near-flat sequential Q2 revenue; growth back-loaded to Q4; research growth depends on AJE; top five clients still 46% of revenue.
Last quarter's promises, checked
Delivered
- Outperform Research mkt 8–9% → ex-AJE +22% (= BEAT)
- Outperform Corp mkt 12–13% → Q2 +17% (= BEAT)
Partly delivered
- FY27 EBITDA >₹300 Cr → H1 ₹154 Cr, floor raised to ₹310 Cr (= PARTIAL, in progress)
- FY28 ₹1,500 Cr revenue → retained, M&A-dependent (= PARTIAL, at risk)
- Unbound margin 18–20% → ~18% (= PARTIAL, low end)
Missed
- M&A ₹300–500 Cr 'fairly doable', active pipeline → pace lagging (= MISS)
Earnings Call Transcript filed with BSE, NSE: MPSLTD. Summary written with AI assistance from the document.
MPS Ltd: key numbers
- Share price
- ₹2,315.00
- Market cap
- ₹3,960 Cr
- Revenue (annual)
- ₹768.4 Cr
- Net profit (annual)
- ₹173.2 Cr
- P/E (TTM)
- 21.4×Sector 45.0×
- Promoter holding
- 68.34%+0.00% QoQ
- FII holding
- 1.49%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from MPS Ltd
All →MPS Business Update
MPS Limited's Chairman and CEO, Rahul Arora, participated in a media interaction with CNBC-TV18. The discussion covered Q2FY27 financial results, business performance, and growth outlook.
MPS Other Announcement
MPS Ltd's Chairman and CEO will speak with CNBC TV18 on 04 November 2026 at 12:05 PM IST. The interview covers quarterly financial results and general business updates.
MPS Management Change
MPS Limited's board re-appointed Divya Verma as Non-Executive Independent Director for 60 months. The re-appointment takes effect January 24, 2027.
MPS Investor Presentation: Key Takeaways
Q2 FY27 revenue +15.35% YoY to INR 22,429 Lakhs; EBITDA +27.39%, record 34.34% margin. H1 EBITDA INR 154 Cr; zero debt, cash INR 16,323 Lakhs.
MPS Q2 FY27 Results: Net Profit ₹52.1 Cr, Down 6.1% YoY
MPS Ltd reported revenue from operations of ₹224.3 Cr (+15.4% YoY) and net profit of ₹52.1 Cr (-6.1% YoY) for Q2 FY27.
- Key figure
- Net profit ₹52.1 Cr · -6.1% YoY
MPS Board Meeting Date
MPS Limited intimated that its Board is scheduled to meet on 3 November 2026 to consider unaudited Q1 and H1 FY27 results. Trading window remains closed until 5 November 2026.