Bluspring FY26 PAT Rises 27% on Revenue Growth
Bluspring Enterprises Limited reported a 27% YoY increase in adjusted PAT to ₹67 Cr for FY26, driven by an 11% revenue growth to ₹3,304 Cr. Q4 FY26 adjusted PAT surged 73% to ₹20 Cr, with revenue increasing 8% to ₹846 Cr and EBITDA margins expanding to 4.2%. The company announced acquisitions of STEAG Energy Services and LSG Sky Chefs to boost growth and margins, targeting 15-16% organic revenue growth and 5% EBITDA margins in FY27.
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Bluspring Enterprises Limited announced its financial results for the fourth quarter and fiscal year ended March 31, 2026. On an adjusted basis, the company reported a profit after tax (PAT) of ₹67 Cr for FY26, representing a growth of 27% year-on-year. Revenue for the fiscal year stood at ₹3,304 Cr, an increase of 11% compared to the previous year. The operational performance was marked by an expansion in EBITDA margins, which rose to 3.7% from 3.7% in the same period last year.
For the quarter ended March 31, 2026, the company posted an adjusted PAT of ₹20 Cr, a rise of 73% year-on-year. Revenue for Q4 FY26 stood at ₹846 Cr, an increase of 8% compared to the corresponding quarter of the previous year. The EBITDA margin expanded by 105 basis points YoY to 4.2%. The board approved the financial results at a meeting held on May 19, 2026. The financial highlights on an adjusted basis exclude the company's investments in the foundit business.
Consolidated Financial Performance
The company's operational performance improved during the quarter, driven by growth across its business segments. The adjusted diluted EPS for Q4 FY26 was ₹1.3 per share, up 72% YoY. The headcount stood at over 93,000, reflecting a 3% increase quarter-on-quarter. The following table presents the adjusted financial performance for Q4 FY26 and FY26:
| Particulars (in ₹ Cr): | Q4 FY26 | Q4 FY25 | YoY | FY26 | FY25 | YoY |
|---|---|---|---|---|---|---|
| Revenue: | 846 | 783 | 8% | 3,304 | 2,969 | 11% |
| Reported EBITDA: | 35 | 25 | 44% | 121 | 110 | 10% |
| Reported EBITDA%: | 4.2% | 3.1% | 105 bps | 3.7% | 3.7% | Flat |
| Adj. PAT: | 20 | 11 | 73% | 67 | 53 | 27% |
| Adj. Diluted EPS (₹): | 1.3 | 0.8 | 72% | 4.5 | 3.5 | 27% |
Segmental Highlights
Facility and Food Services reported revenue of ₹519 Cr for the quarter, growing 10% YoY, with an EBITDA margin of 4.7%. Security Services revenue grew 15% YoY to ₹169 Cr, with EBITDA surging 203% YoY to ₹6 Cr. Telecom and Industrial Services revenue was at ₹157 Cr, with EBITDA margins touching double digits at 11.2%. The foundit business reported revenue of ₹19 Cr with an EBITDA loss of ₹10 Cr for the quarter.
Strategic Acquisitions and Guidance
Management announced the signing of definitive agreements for the acquisition of STEAG Energy Services (India) Private Limited and LSG Sky Chefs (India) Private Limited. STEAG India, with annual revenues of ₹700 Cr and high-single digit EBITDA margins, manages 7 GW of power assets. LSG Sky Chefs India generates revenue of ₹110 Cr with mid-to-high teens EBITDA margins. The company expects these acquisitions to add nearly 20% to its top line and improve pro forma EBITDA margins by approximately 90 to 100 basis points. The company targets organic revenue growth of 15% to 16% for FY27 and aims to achieve 5% EBITDA margins post-consolidation.
Audited Results and Publication
Pursuant to Regulation 30 read with Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, the company has published the audited financial results for the quarter and year ended March 31, 2026. The results were published in the Financial Express and Hosa Digantha newspapers on May 21, 2026. The statutory auditors have expressed an unqualified audit opinion on the financial results for the year ended March 31, 2026.
Analyst Call Recording
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Bluspring Enterprises Limited has informed that the audio recordings of the analyst call conducted on May 20, 2026, have been uploaded on the company's website.
Historical Stock Returns for Bluspring Enterprises
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.83% | +21.74% | +27.92% | +16.91% | -2.31% | -2.31% |
How soon could the STEAG Energy Services and LSG Sky Chefs acquisitions receive regulatory approvals, and what integration risks could delay the projected 90-100 basis point EBITDA margin improvement?
Given the foundit business continues to report EBITDA losses of ₹10 Cr per quarter, what is management's timeline for either turning it profitable or divesting the asset?
With organic revenue growth guidance of 15-16% for FY27, which specific business segments—Security Services or Facility and Food Services—are expected to be the primary growth drivers?
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