eMudhra Ltd Q2 FY26 Results

Summary

eMudhra Ltd, a digital trust, digital security and paperless transformation solution provider, reported its financial results for Q2 FY26 ended on September 30, 2025. The company's revenue grew by 22.6% Y-o-Y, with an EBITDA margin of 24.8% and PAT margin of 15.1%. The growth was driven by robust revenue growth and new client wins across the US, Middle East, India and Asia Pacific, including revenue from Europe due to the Cryptas acquisition.

Key Highlights

1. 1

   Revenue from operations for the quarter was INR 1,749.5 million, an increase of 22.6% from the previous year

2. 2

   Gross profit for the quarter was INR 976.3 million, representing a gross margin of 55.8%

3. 3

   Operating expense for the quarter was INR 773.2 million

4. 4

   EBITDA for the quarter was INR 433.3 million, with an EBITDA margin of 24.8%

5. 5

   EBIT for the quarter was INR 339.3 million, with an EBIT margin of 19.4%

6. 6

   Net income for the quarter was INR 264.4 million, with a net margin of 15.1%

7. 7

   Enterprise Revenue split between India and International is 36:64

8. 8

   Enterprise Revenue split between Partner and Direct is 39:61

9. 9

   Enterprise Revenue split between Cyber Security and Paperless segments is 62:38

10. 10

    Completed acquisition of Al Cyber Forge Inc, a company in US engaged in software solution for Key and Secrets Management