News Earnings eMudhra Releases Q3FY26 Earnings Call Transcript Following Strong Financial ResultseMudhra Releases Q3FY26 Earnings Call Transcript Following Strong Financial Results
eMudhra has released the official transcript of its Q3FY26 earnings call, revealing strong financial performance with total income growing 35.60% to ₹1,910.60 million and net profit increasing 29.50% to ₹290.00 million. The company's CRYPTAS acquisition contributed ₹34.00 crores in revenue and turned profitable, while management maintained the full-year revenue guidance of ₹700.00 crores with focus on product-led growth across international markets.
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eMudhra has released the official transcript of its Q3FY26 earnings call held on February 3, 2026, providing comprehensive insights into the company's strong financial performance and strategic developments. The company submitted the transcript to BSE Limited on February 6, 2026, under SEBI Regulation 30 compliance requirements.
Earnings Call Transcript Availability
Following the earnings call conducted on February 3, 2026, eMudhra has made both the audio recording and complete transcript accessible to investors through its official website at emudhra.com/investors.jsp. Johnson Xavier, Company Secretary & Compliance Officer (Membership No. A28304), digitally signed the regulatory filing confirming compliance with SEBI disclosure requirements.
| Parameter: | Details |
|---|---|
| Earnings Call Date: | February 3, 2026 |
| Transcript Release Date: | February 6, 2026 |
| Website Access: | emudhra.com/investors.jsp |
| Regulation: | SEBI Regulation 30 |
| Script Code (BSE): | 543533 |
| Symbol (NSE): | EMUDHRA |
Q3FY26 Financial Performance Highlights
During the earnings call, Executive Chairman Venkatraman Srinivasan and CFO Ritesh Raj Pariyani presented strong financial results for the quarter. The company delivered impressive year-on-year growth across key financial metrics:
| Metric: | Q3FY26 | Q3FY25 | Growth (%) |
|---|---|---|---|
| Total Income: | ₹1,910.60 million | ₹1,408.90 million | +35.60% |
| Revenue from Operations: | ₹1,880.00 million | ₹1,389.00 million | +35.40% |
| Gross Profit: | ₹1,019.00 million | ₹714.00 million | +42.60% |
| EBITDA: | ₹441.40 million | ₹319.40 million | +38.20% |
| Net Profit: | ₹290.00 million | ₹224.00 million | +29.50% |
| EBITDA Margin: | 23.10% | 22.70% | +40 bps |
| Net Margin: | 15.20% | 16.10% | -90 bps |
Nine-Month Performance Overview
For the nine months ended December 31, 2025, eMudhra demonstrated consistent growth momentum with total income reaching ₹5,166.00 million, representing a 36.50% year-over-year growth. The Enterprise Solutions segment generated revenue of ₹4,079.00 million, while Trust Services contributed ₹1,003.00 million.
| Nine-Month Metrics: | FY26 (9M) | FY25 (9M) | Growth (%) |
|---|---|---|---|
| Total Income: | ₹5,166.00 million | ₹3,784.00 million | +36.50% |
| EBITDA: | ₹1,255.00 million | ₹952.00 million | +31.80% |
| PAT: | ₹805.00 million | ₹629.00 million | +28.00% |
| EBITDA Margin: | 24.30% | 25.20% | -90 bps |
| PAT Margin: | 15.60% | 16.60% | -100 bps |
Strategic Business Developments and Market Expansion
The earnings call highlighted several key business achievements including Certificate Lifecycle Management wins across IoT and Enterprise Authentication use cases in the USA, successful renewals in the DACH region in Europe, and significant traction in eSign & eStamping services in India's Banking and Financial Services sector. The company's US data centers are now operational, enabling local TLS certificate issuance and lifecycle management.
CRYPTAS Acquisition Performance
Management disclosed that CRYPTAS, the European acquisition, contributed ₹34.00 crores in Q3FY26 revenue compared to ₹24.00 crores in Q2FY26. The subsidiary turned profitable with ₹1.25 crores PAT in Q3FY26, compared to a loss of ₹1.60 crores in Q2FY26, demonstrating successful integration efforts.
Future Outlook and Guidance
The company maintained its revenue guidance of ₹700.00 crores for the full year, with management expressing optimism about growth prospects in Middle East, Africa, and European markets. The focus remains on product-led growth to improve margins, with 65% of revenue being recurring in nature and 35% from one-time implementations.
Historical Stock Returns for eMudhra
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.56% | -4.57% | -13.70% | -38.55% | -35.69% | +79.76% |
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