| Management target | Revenue FY28 |
|---|
| Revenue growth | 20.4% YoY growth; organic growth in core research solutions up 26.3%. |
|---|---|
| Margins | Expanding to 34.3% from 27% YoY due to structural efficiency. |
| Demand visibility | Strong forward visibility through recurring subscription models in Unbound Medicine. |
| Management confidence | Extremely high; focusing on rule of 50 and compounding growth. |
Growth
Revenue grew 20% YoY, while EBITDA surged 53% driven by 34.3% margins. Operating leverage is strong with headcount rising only 3%.
Outlook
Management reaffirmed target of crossing 300 Cr EBITDA in FY27 and 1,500 Cr revenue by FY28.
Risks
Pruning of AJEE segment to improve quality over volume results in lower segment revenue. Rapid AI adoption creates valuation and obsolescence risks.
Last quarter's promises, checked
Delivered
- Guided 100 Cr+ EPS in FY26 → delivered 102.11 Cr (= BEAT)
- Guided FY26 record profitability → delivered record 236 Cr EBITDA (= BEAT)
- Guided Q4 exit margin turnaround in Corporate Learning → delivered 26.3% margin vs 16.5% FY average (= BEAT)
Partly delivered
- Guided Unbound Medicine FY27 exit margin 25-30% → current margin 18-19% (= PARTIAL)
Earnings Call Transcript filed with NSE, NSE: MPSLTD. Summary written with AI assistance from the document.
MPS Ltd: key numbers
- Share price
- ₹2,681.00
- Market cap
- ₹4,586 Cr
- Revenue (annual)
- ₹768.4 Cr
- Net profit (annual)
- ₹173.2 Cr
- P/E (TTM)
- 24.4×Sector 40.4×
- Promoter holding
- 68.34%+0.00% QoQ
- FII holding
- 1.38%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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