Persistent Systems Ltd

Audited financial statements

• Board approved audited financial statements for Q2 and H1 ended Sep 30, 2026, at Oct 15, 2026 meeting.
• Consolidated and standalone results for the company and subsidiaries available on the company website.

Financial highlights

• Q2FY27 revenue: USD 487.6 million, QoQ +7.8%, YoY +20.0%.
• Revenue in INR: 46,639.0 million, QoQ +8.4%, YoY +30.3%.
• EBIT: INR 6,977.2 million; margin 15.0%; QoQ +1.6%, YoY +19.5%.
• Operating PAT: INR 4,951.5 million; margin 10.6%; QoQ +2.5%, YoY +5.0%.
• PAT: INR 3,515.1 million; margin 7.5%; QoQ -27.2%, YoY -25.4%.

Strategic & funding updates

• Nagarro stake secured: ~94.04% of share capital and voting rights, excluding treasury shares.
• Shareholders approved equity raise up to USD 450 million; cap on total debt at USD 1,250 million.
• Equity raise aligns with long-term M&A strategy to strengthen engineering capabilities and expand geographic reach.

Operational metrics

• Q2 bookings: TCV USD 633.5 million; ACV USD 481.0 million.

Financial performance

• Q2FY27 revenue 487.6 USD M; QoQ 7.8%, YoY 20.0%.
• EBIT margin 15.0% in Q2FY27.
• PAT ₹3,515.1M; EPS ₹22.4 in Q2FY27.
• TTM Revenue USD 1,798.5M; TTM ACV Bookings USD 1,964.8M.

M&A & capital actions

• Nagarro stake acquired 94.04% of share capital and voting rights.
• Equity raise approved up to USD 450M; debt+equity cap USD 1,250M.
• Closing targeted by Q4 CY26 / Q1 CY27, subject to RBI/FDI approvals.

Capital structure & liquidity

• Cash & investments ₹29,996.6M; net worth ₹85,894.3M; total assets ₹131,644.1M.
• Diversified funding plan replaces bridge loan with longer-tenor terms.
• Equity dilution limited; ~4.9% dilution at current market cap (illustrative).
• Debt-to-equity balance aided by equity component; Nagarro cash flows restricted for two years.

Operational & segmentation

• Segment mix: BFSI 33.7%, Healthcare 23.5%, Software/Hi-Tech 42.8%.
• NA geographies account for 81.4% of revenue; Europe 7.1%; India 9.2%; ROW 2.3%.
• DSO: billed 50 days; unbilled 24 days.

Financial highlights

• Standalone Q2 revenue: Rs 44,941.71 mn.
• Standalone Q2 PAT: Rs 4,828.94 mn.
• Standalone Q2 EPS: Basic 30.80, Diluted 30.53.
• Consolidated Q2 revenue: Rs 46,639.04 mn.
• Consolidated Q2 PAT: Rs 3,515.14 mn.
• Six-month standalone revenue: Rs 86,119.72 mn.
• Six-month standalone PAT: Rs 8,849.18 mn.
• Six-month consolidated revenue: Rs 89,671.31 mn.
• Six-month total consolidated comprehensive income: Rs 9,948.86 mn.
• Standalone capex (six months): Rs 1,314.86 mn.
• Consolidated capex (six months): Rs 2,467.57 mn.
• Consolidated OCF (six months): Rs 9,280.06 mn.
• Cash at end Sep 2026: Rs 16,311.85 mn.

Segment performance (quarter)

• BFSI revenue: Rs 15,714.77 mn.
• BFSI PBT: Rs 5,489.15 mn.
• Healthcare revenue: Rs 10,980.41 mn.
• Healthcare PBT: Rs 3,855.39 mn.
• Software/Hi-Tech revenue: Rs 19,943.86 mn.
• Software/Hi-Tech PBT: Rs 6,382.52 mn.

Corporate actions & milestones

• Merger with Arrka Infosec Private Limited approved; comparatives restated for FY25.
• ESOP Trust consolidation in standalone results; merger impacts reflected.
• Acquired Concise Systems OÜ via Persistent Estonia on Jul 1, 2026.
• Nagarro SE open offer: stake ~94.04% post acceptance; EUR 81 per share contemplated.
• Open Offer accepted Aug 6–Sep 17, 2026; additional acceptance Sep 23–Oct 6, 2026.

Balance sheet & liquidity

• Total assets (Consolidated) ~ Rs 130,305 mn as at Sep 30, 2026.
• Total equity (Consolidated) ~ Rs 85,894 mn.
• Cash and cash equivalents end Sep 2026: Rs 16,312 mn.

Dematerialisation status

• No dematerialisation requests were received in the reporting quarter.

Facility opening

• Inaugurated its third Hyderabad facility at Phoenix Equinox in Gachibowli.
• Facility enables AI deployment, payments modernization, cloud platforms and operational resilience for BFSI clients.
• Hyderabad workforce exceeds 3,000 employees across WaveRock and Sattva Knowledge City.
• Secure, dedicated workspaces support program delivery and client collaboration.