eMudhra Limited , a leading provider of digital trust services and enterprise solutions, has successfully completed the acquisition of AI Cyberforge Inc, a USA-based company specializing in secure credential management. The acquisition, finalized on July 30, 2025, was executed through eMudhra's subsidiary, eMudhra Inc.

Strategic Expansion in Cybersecurity

The acquisition of AI Cyberforge marks a significant step in eMudhra's strategy to enhance its cybersecurity offerings. AI Cyberforge's expertise in secrets management and vault technologies complements eMudhra's existing suite of digital security solutions.

Venkatraman Srinivasan, Executive Chairman of eMudhra, commented on the acquisition: "AI Cyberforge's capabilities in secure credential management will help us expand our portfolio at the intersection of data privacy and identity management. This acquisition enables us to bring differentiated solutions to the markets we serve and strengthens our position in complex cybersecurity implementations."

Enhancing Competitive Edge

The integration of AI Cyberforge's technology is expected to bolster eMudhra's ability to compete in high-value RFPs (Request for Proposals) that require comprehensive cybersecurity solutions. Srinivasan noted, "With this acquisition, we are filling a crucial gap in our product lineup, allowing us to qualify for and participate in a broader range of cybersecurity projects globally."

Financial Details and Future Outlook

eMudhra acquired AI Cyberforge for $4.80 million, a move the company believes is strategically priced considering the potential market opportunities and the time saved in developing similar capabilities in-house. The acquisition is expected to contribute to eMudhra's product revenue stream, particularly in the U.S. market.

Continued Growth and Expansion

This acquisition follows eMudhra's recent expansion initiatives, including the establishment of operations in Kazakhstan and strategic partnerships in Sri Lanka and Nepal. These moves align with the company's goal of strengthening its international presence and diversifying its product offerings.

Johnson Xavier, Company Secretary & Compliance Officer of eMudhra, confirmed the completion of the transaction to the stock exchanges, underlining the company's commitment to transparent communication with its stakeholders.

As eMudhra integrates AI Cyberforge's technologies into its existing product suite, the company aims to enhance its position in the global cybersecurity market, particularly in areas such as secrets management and vault technologies. This strategic move is expected to drive growth and expand eMudhra's capabilities in addressing the evolving needs of enterprises in digital security and identity management.

eMudhra Limited, a leading provider of digital security and paperless transformation solutions, has reported a robust financial performance for the first quarter of fiscal year 2026, marked by significant revenue growth and strategic acquisitions.

Financial Highlights

eMudhra's total income for Q1 FY26 stood at INR 1,506.00 million, representing a substantial year-on-year growth of 58.5%. The company's EBITDA reached INR 380.00 million with a margin of 25.2%, while net profit rose to INR 250.00 million, reflecting a margin of 16.6%.

Segment Performance

Geographic Expansion and Strategic Acquisitions

eMudhra has made significant strides in expanding its global footprint:

• Completed the acquisition of Austria-based Cryptas, strengthening its presence in the DACH region (Germany, Austria, and Switzerland).
• Signed an agreement to acquire AI CyberForge, enhancing its capabilities in secure credential management.
• Expanded operations into Kazakhstan, marking its entry into Central Asia.
• Formed strategic partnerships with LankaPay and M/S Pacific Technology Private Limited for Sri Lanka and Nepal markets, respectively.

Key Project Wins

The company secured several notable projects across various sectors and geographies:

• Deployed Managed PKI and TLS solutions for a global FMCG company in North America.
• Implemented Certificate Lifecycle Management for a large bank in the UAE.
• Rolled out Identity and Access Management for a government tax platform in Asia.
• Continued acquisition of BFSI clients in India for emSigner, eSign, and eStamping solutions.
• Implemented the emCA platform for a wing of the Indian defense forces.
• Deployed eSignature workflow for a significant government platform in Asia-Pacific.

Product Innovation and Market Traction

eMudhra's flagship products continue to gain traction:

• emSigner: Increased adoption for automating complex multi-party signing workflows, particularly in the BFSI segment.
• SecurePass and CERTInext: Growing adoption, enabling enterprises to manage user and device identities under a unified framework.

Future Outlook

The company has provided revenue guidance of INR 675.00-700.00 crores for the full year FY26, maintaining PAT margin expectations around 16-16.5%. eMudhra remains focused on strengthening its innovation pipeline, with R&D efforts centered on Converged Identity, Data Privacy, and Generative AI.

Venkatraman Srinivasan, Executive Chairman of eMudhra, commented on the results, stating, "We began the financial year on a strong note. The strategic acquisitions and geographic expansions position us well to address the growing global demand for digital trust and cybersecurity solutions."

As eMudhra continues to expand its global presence and enhance its product offerings, the company appears well-positioned to capitalize on the increasing need for robust digital security solutions across various sectors and geographies.