Infinity Infoway Reports FY26 Results; Appoints D J Rupareliya as Internal Auditor
Infinity Infoway Limited reported robust FY26 financial results with revenue from operations growing 80% to Rs 2,377.03 crore and PAT increasing 60% to Rs 701.15 crore. The company's EBITDA rose 64% to Rs 1,057.04 crore with EBITDA margin at 44.47%. The Board appointed D J Rupareliya & Company as Internal Auditor for FY26-27. The company secured key orders including a Rs 10.97 crore Gujarat government project and Rs 1.45 crore Barkatullah University contract, while IPO proceeds utilization reached Rs 1,109.27 crore.

*this image is generated using AI for illustrative purposes only.
Infinity Infoway Limited announced its audited standalone and consolidated financial results for the financial year ended March 31, 2026, following a Board meeting held on May 4, 2026. The company reported revenue from operations of Rs 2,377.03 crore for FY26, compared to Rs 1,319.23 crore in the previous year. Total income for the year stood at Rs 2,446.33 crore, while total expenses amounted to Rs 1,481.55 crore. The half-year ended March 31, 2026, also showed strong performance with revenue from operations at Rs 1,561.79 crore and PAT of Rs 421.02 crore.
The company's profit after tax for FY26 reached Rs 701.15 crore, up from Rs 438.34 crore in the preceding year. Basic earnings per share for the year increased to Rs 15.11 from Rs 11.77 in FY25. The statutory auditors issued audit reports with unmodified opinions on both standalone and consolidated financial results.
Financial Performance Summary
The table below presents the key financial metrics for the year ended March 31, 2026, compared to the previous year:
| Particulars: | Year Ended 31-03-2026 (Rs in Lakhs) | Year Ended 31-03-2025 (Rs in Lakhs) |
|---|---|---|
| Revenue from Operations: | 2,377.03 | 1,319.23 |
| Other Income: | 69.30 | 29.26 |
| Total Income: | 2,446.33 | 1,348.49 |
| Total Expenses: | 1,481.55 | 784.48 |
| Profit Before Tax: | 964.78 | 564.01 |
| Profit After Tax: | 701.15 | 438.34 |
| Basic EPS (Rs): | 15.11 | 11.77 |
Business Overview and Strategic Initiatives
Infinity Infoway Limited is a Software-as-a-Service (SaaS) company primarily engaged in providing AI-based integrated Enterprise Resource Planning (ERP) solutions across education, manufacturing, corporate, and retail sectors. The company has developed NEP-enabled ERP products integrated with cutting-edge AI capabilities. During FY26, the company was granted a 20-year patent for its ZEROTOUCH DaaS technology and secured key orders including a Rs 10.97 crore project from the Government of Gujarat and a Rs 1.45 crore annual contract from Barkatullah University.
The company's state-wise revenue bifurcation shows Gujarat contributing 71.02% (Rs 1,688.09 crore), followed by Madhya Pradesh at 20.39% (Rs 484.63 crore), Maharashtra at 6.40% (Rs 152.11 crore), and Rajasthan at 1.21% (Rs 28.77 crore). The revenue mix across product segments includes Education ERP at Rs 1,274.11 crore, Industrial ERP Solutions at Rs 861.55 crore, and Online Examination System at Rs 238.27 crore.
Board Decisions and Appointments
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors approved the appointment of M/s. D J Rupareliya & Company, Chartered Accountants (FRN: 130692W), as the Internal Auditor of the Company for the financial year 2026-27, based on the recommendation of the Audit Committee. The appointment was approved at the Board meeting held on January 29, 2026, and became effective May 4, 2026, pursuant to Section 138 of the Companies Act, 2013.
| Parameter: | Details |
|---|---|
| Firm Name: | D J Rupareliya & Company |
| Firm Registration No.: | FRN: 130692W |
| Nature of Appointment: | Internal Auditor |
| Tenure: | Financial Year 2026-27 |
| Effective Date: | May 4, 2026 |
| Location: | Rajkot, Gujarat |
IPO Fund Utilization
The proceeds from the IPO net of issue expenses amounted to Rs 2,200.86 crore. As of March 31, 2026, the company had utilized Rs 1,109.27 crore, with Rs 1,091.59 crore remaining unutilized. The utilization included Rs 375.00 crore for the development of the ZeroTouch DaaS solution and Rs 260.56 crore for the purchase of new IT infrastructure and certification.
The consolidated financial results included the financial information of Infinity Transsoft Solution Private Limited, an associate company in which Infinity Infoway holds 49.42% stake. The associate company reported total assets of Rs 1,138.11 crore and total revenue of Rs 1,493.96 crore for the year ended March 31, 2026.
Historical Stock Returns for Infinity Infoway
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -6.41% | +1.43% | +1.49% | -8.39% | +14.81% | +14.81% |
How quickly can Infinity Infoway deploy the remaining Rs 1,091.59 lakhs of unutilized IPO proceeds, and will the pace of deployment accelerate revenue growth beyond the current 80% YoY trajectory?
As ZEROTOUCH DaaS expands to Bhopal, Ahmedabad, Mumbai, and Rajkot, what competitive risks could prevent it from achieving its targeted 20–22% revenue contribution?
Given that 71% of revenues are concentrated in Gujarat, what specific strategies is Infinity Infoway pursuing to reduce geographic dependency and penetrate higher-revenue states like Maharashtra?


































