MPS

MPS Limited reported revenue growth of 3.9% year-over-year in Q1 FY26, while EBITDA grew 22.51%. The company's headcount increased from 3,007 to 3,263 employees and Days Sales Outstanding (DSO) was brought down to 45 days. The Education Solutions segment showed strong performance with 56.64% revenue growth and 36% EBITDA margin, driven entirely by organic growth. Research Solutions experienced a small revenue decline due to intentional rightsizing of AJE operations, which now operates at USD 12 million annual run rate compared to USD 18 million previously, but achieved 23% EBITDA margin. Corporate Learning segment saw revenue decline of 32% as part of a planned turnaround strategy. The company has restructured its segment reporting to market-based approach covering Research Solutions, Education Solutions, and Corporate Learning. North America revenue recovered to 51% of total revenue from 48% in Q4 FY25. The Board approved amalgamation of ADI BPO Services Limited with MPS Limited to simplify shareholding structure. Management expects multiple acquisition deals in FY26 and remains confident about Vision 2027 targets.