R Systems Reports Strong FY25 Performance with 17.8% YoY Growth in Normalized EBITDA
R Systems International Limited reported strong FY25 results with revenue of Rs 19,582 mn (12.4% YoY growth) and normalized EBITDA of Rs 3,427 mn (17.8% YoY growth), with margin expansion to 17.5%. Q4 FY25 delivered Rs 5,551 mn revenue (23.6% YoY growth) and 18.3% EBITDA margin. The company completed Novigo Solutions acquisition for Rs 4,000 mn, enhancing AI capabilities, and secured 8 key client wins across diverse industries including SaaS, telecommunications, and entertainment sectors.

*this image is generated using AI for illustrative purposes only.
R Systems International Limited delivered exceptional financial performance for FY25 ended December 31, 2025, showcasing strong revenue growth and margin expansion driven by sustained demand for AI-led digital product engineering services. The company's strategic focus on automation and Agentic AI capabilities, bolstered by the Novigo Solutions acquisition, positioned it well for continued growth in the evolving technology landscape.
Strong Financial Performance Across Key Metrics
The company's consolidated financial results demonstrated robust growth across multiple parameters for both the full year and fourth quarter periods.
| Metric | FY25 | FY24 | YoY Growth |
|---|---|---|---|
| Revenue (Rs mn) | 19,582 | 17,417 | 12.4% |
| Revenue (US$ mn) | 224.8 | 208.2 | 8.0% |
| Adj. EBITDA (Rs mn) | 3,427 | 2,910 | 17.8% |
| EBITDA Margin | 17.5% | 16.7% | +80 bps |
| Adj. Net Profit (Rs mn) | 1,936 | 1,554 | 24.6% |
For Q4 FY25, the momentum continued with particularly strong quarterly performance reflecting the company's operational excellence and market positioning.
| Metric | Q4 FY25 | Q4 FY24 | YoY Growth |
|---|---|---|---|
| Revenue (Rs mn) | 5,551 | 4,490 | 23.6% |
| Revenue (US$ mn) | 62.5 | 53.2 | 17.6% |
| Adj. EBITDA (Rs mn) | 1,017 | 801 | 27.0% |
| EBITDA Margin | 18.3% | 17.8% | +50 bps |
| Adj. Net Profit (Rs mn) | 604 | 474 | 27.4% |
Strategic Acquisition Enhances AI Capabilities
R Systems completed a significant strategic milestone with the acquisition of 100% equity shares of Novigo Solutions Private Limited on November 13, 2025, for a total consideration of Rs 4,000.00 million. The acquisition was strategically funded through Rs 2,750.00 million in non-convertible debentures issued on a private placement basis, with the balance paid through the company's own funds.
Managing Director and CEO Nitesh Bansal emphasized the strategic importance of this acquisition: "During the last quarter, we also successfully completed the acquisition of Novigo Solutions, a strategic milestone that significantly enhances our capabilities in automation and Agentic AI. The integration of Novigo's automation depth with our OptimaAI portfolio strengthens our ability to help enterprises move from model engineering to autonomous, AI orchestrated execution."
Key Client Wins Demonstrate Market Traction
The company secured 8 key client wins during Q4 FY25, spanning diverse industries and geographies, highlighting the strong market demand for its digital product engineering services:
- Global SaaS Platform: Engaged R Systems to modernize core platform and accelerate customer onboarding, enabling transformation from SaaS solution to AI-powered platform
- Children's Entertainment Company: Partnership to modernize B2B commerce ecosystem through Salesforce, focusing on sales process transformation and customer experience elevation
- Austrian Telecommunications Provider: Tier 1 telecom engagement for cloud-native readiness and security capabilities enhancement
- Saudi Mining Company: Implementation of next-generation data platform consolidating disparate data sources for real-time insights
- Singapore Foodservice Distributor: Microsoft Dynamics 365 Business Central implementation for end-to-end business operations digitalization
Strong Balance Sheet and Liquidity Position
R Systems maintained a robust financial position with strengthened balance sheet metrics reflecting operational efficiency and strategic investments.
| Financial Position | Dec 31, 2025 | Dec 31, 2024 | Change |
|---|---|---|---|
| Cash & Bank Balance (Rs mn) | 2,726 | 1,961 | +39.0% |
| Total Equity (Rs mn) | 7,916 | 6,241 | +26.8% |
| Total Headcount | 5,359 | 4,316 | +24.2% |
| Technical Staff | 4,778 | 3,787 | +26.2% |
CFO Nand Sardana highlighted the financial discipline: "Our performance in CY2025 reflects strengthening in the quality of our revenues, driven by disciplined execution, sustained operational rigor as supported by rupee depreciation. We delivered full year EBITDA of USD 39.3 million, translating to a healthy 17.5% margin."
Innovation and Market Leadership
The company advanced its innovation roadmap with Optima AI assisted service designed to help enterprises rapidly build and test software products and platforms at scale. R Systems also launched its customer experience centre in Noida, showcasing the company's vision and capability for the AI-driven future with real-world use cases across digital engineering, agentic automation, and industry-specific AI solutions.
The geographic revenue distribution remained well-balanced with Americas contributing 72.66%, APAC 17.18%, Europe 9.04%, and MEA 1.12% for FY25, demonstrating the company's global market presence and diversified client base across multiple regions.
Historical Stock Returns for R Systems International
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.84% | -5.88% | -12.66% | -17.44% | -13.85% | +197.46% |


































