eMudhra , a leading provider of digital security and trust services, has announced its financial results for the second quarter, showcasing robust growth across key metrics and completing two strategic acquisitions.

Financial Highlights

eMudhra has demonstrated strong financial performance in the second quarter. The company's consolidated net profit increased by 15.53% year-over-year, reaching ₹25.30 crores compared to ₹21.90 crores in the same quarter of the previous year.

Revenue Growth and Operational Efficiency

The company's revenue saw a significant uptick, rising by 23.57% to ₹173.00 crores from ₹140.00 crores in the corresponding quarter last year. This substantial growth in revenue indicates a robust demand for eMudhra's digital security and trust services.

eMudhra's operational efficiency also improved, as evidenced by the increase in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). The EBITDA rose to ₹41.25 crores, marking a 27.71% increase from ₹32.30 crores in Q2 of the previous fiscal year.

Margin Improvement

The company's EBITDA margin showed improvement, expanding by 93 basis points to reach 23.86% compared to 22.93% in the same quarter of the previous year. This margin expansion suggests that eMudhra has been successful in managing its costs while growing its revenue.

Strategic Acquisitions

During the quarter, eMudhra completed two significant acquisitions:

1. eMudhra BV acquired 51% ownership of Cryptas International GmbH, an Austria-based cybersecurity company, for EUR 5.0 million in cash. The deal includes potential additional upside payments based on enterprise value.

2. eMudhra Inc acquired 100% ownership of AI CyberForge Inc, a cybersecurity software provider, for USD 4.80 million in cash.

Both acquisitions were effective from July 1, 2025, and are expected to strengthen eMudhra's position in the global cybersecurity market.

Consolidated Financial Results

The consolidated financial results for the quarter ended September 30, 2025, include:

• Revenue from operations: ₹1,749.48 million
• Net profit: ₹157.23 million

For the half-year ended September 30, 2025:

• Revenue from operations: ₹3,285.68 million
• Net profit: ₹271.32 million

Board Meeting and Results Approval

The Board of Directors convened on November 4, 2025, to approve the unaudited financial statements for the quarter and half-year ended September 30, 2025. The board meeting, which commenced at 2:00 p.m., concluded at 4:45 p.m.

eMudhra's performance in Q2 FY2026 reflects its strong position in the digital security and trust services market. The company's ability to grow its revenue significantly while also improving profitability and operational efficiency, coupled with strategic acquisitions, positions it well for future growth. The company continues to maintain operations across multiple subsidiaries and step-down subsidiaries globally, further solidifying its international presence in the cybersecurity sector.

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.