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LatentView Analytics reported a consolidated revenue of ₹287 crore

ICICIdirect Research 03 Aug 2026 DISCLAIMER

News: LatentView Analytics reported a consolidated revenue of ₹287 crore, down 0.6% QoQ and up 21.5% YoY. Vertical-wise on a QoQ basis, BFSI (20% of the mix) and Tech (58% of the mix) grew by 24% and 5%, respectively, while CPG & Retail (15% of the mix) and Industrial (7% of the mix) de-grew 32% and 1%. Geography-wise on a QoQ basis, USA (90% of the mix) grew 5%, while RoW (8% of the mix) and Europe (2% of the mix) declined 34% each. Reported EBITDA margin came at 19.8%, down ~360 bps QoQ, impacted by annual wage hikes (~270 bps) and lower revenues due to completion of one-off projects in Q4FY26 along with client-specific insourcing (~190 bps), partly offset by lower travel costs (~100 bps). Reported PAT for the quarter stood at ₹47 crore, down 14.5% QoQ / 6.8% YoY. The headcount for the quarter stood at 1,727 employees, a decline of 17 employees QoQ, while attrition came at 23%, down 100 bps QoQ. 

View: LatentView delivered another healthy quarter with strong double-digit YoY growth despite a sequential revenue decline caused by the completion of one-off projects and client-specific insourcing in the CPG segment. Encouragingly, Financial Services continued to witness robust momentum while AI adoption strengthened further, with AI now impacting 81% of engagements and 35% of projects focused on AI-led outcomes. Management remains optimistic about accelerating growth by deepening client relationships, expanding AI-first offerings, strengthening its Databricks-led data engineering capabilities and scaling high-value analytics engagements. Margin pressure from annual wage hikes and seasonal costs is expected to be transitory, while continued investments in AI-led productivity initiatives, new client additions and a healthy pipeline across Financial Services and Technology should support medium-term growth. We await management commentary for further insights. 

Impact: Neutral

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