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Birlasoft Results: Latest Quarterly Results & Analysis

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Birlasoft Ltd. 06 Nov 2025 17:26 PM
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Q2FY26 Quarterly Result Announced for Birlasoft Ltd.

IT Consulting & Software company Birlasoft announced Q2FY26 results

  • Revenue at Rs 13,289 million, up 3.4% QoQ.
  • EBITDA Rs 2,133 million, EBITDA Margin at 16.0%.
  • PAT at Rs 1,161 million translating to basic EPS (not annualized) of Rs 4.16
  •  Adjusted PAT at Rs 1,477 million translating to basic EPS (not annualized) of Rs 5.28.
  • Cash and cash equivalents rise 2.5% QoQ and 26.1% YoY to Rs 23,434 million.

Angan Guha, Chief Executive Officer and Managing Director, Birlasoft, said: “We have delivered a healthy operating quarter in the face of a macroenvironment that remains challenging. Our performance during the quarter under review also reflects our ability to drive operational efficiencies and generate strong cash flows. We continue to make investments aimed at enhancing our capabilities and are leveraging advanced AI-led capabilities, including Agentic AI, across multiple engagements. Our pipeline remains robust and we expect an upswing in deal wins as customer decision-making picks up.”

Chandrasekar Thyagarajan, Chief Financial Officer, Birlasoft, said: "Our revenue grew 3.4% quarter-on-quarter to Rs 13,289 million. This was enabled by growth in our BFSI and Lifesciences & Services verticals, that offset some weakness in our Manufacturing vertical. EBITDA margin expanded from 12.4% in the preceding quarter to 16.0% in Q2 FY26. This was a result of improved operational efficiencies, exchange rate tailwinds, and some one-offs. We also maintained our robust track record of collections and cashflow generation, with cash and cash equivalents rising to Rs 23,434 million by the end of the quarter, up about 3% QoQ and 26% YoY. Our focus continues to be on prioritising operational efficiency, cashflow generation, and prudent capital allocation."

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IT Consulting & Software company Birlasoft announced Q1FY26 results

  • Revenue at Rs 12,849 million, down 2.4% QoQ.
  • EBITDA Rs 1,588 million, EBITDA Margin at 12.4%.
  • PAT at Rs 1,064 million translating to basic EPS (not annualized) of Rs 3.81.
  • Adjusted PAT at Rs 1,226 million translating to basic EPS (not annualized) of Rs 4.39.
  • Cash and cash equivalents rise 3.1% QoQ and 19.4% YoY to Rs 22,864 million.

Angan Guha, Chief Executive Officer & Managing Director, Birlasoft, said: “Three of our four verticals — BFSI, Life Sciences & Services, and Energy & Utilities — delivered sequential growth in dollar terms during the quarter. The Manufacturing vertical, which is also our largest, remained sluggish on account of some project closures and ramp downs. While the demand environment remains challenging due to the prevailing macroeconomic conditions, our deal pipeline is robust and we expect an uptick in deal wins as customer decision-making picks up. We have been deploying advanced AIpowered capabilities, including Agentic AI, across multiple existing customer ngagements. Many of the deals that we have been winning in the recent past are also centered on Gen AI. Our focus in the current environment is on execution with an eye on operational efficiency, cashflow generation, and prudent capital allocation.”

Kamini Shah, Chief Financial Officer, Birlasoft, said: "Our consolidated revenue during the quarter stood at USD 150.7 million. This represents a sequential decline of 1%, due to degrowth in our Manufacturing vertical that outweighed the growth seen across all other verticals. We continue to generate healthy cashflows with cash and cash equivalents rising to USD 266.6 million by the end of the quarter, up about 3% QoQ and 16% YoY. We have begun the new financial year with a robust balance sheet. We are also making judicious investments in the business, prioritising initiatives where we anticipate returns in the medium term."

Result PDF

IT Consulting & Software company Birlasoft announced Q3FY25 results

  • Revenue at Rs 13,627 million, up 1.5% YoY.
  • EBITDA at Rs 1,634 million; EBITDA margin at 12.0%.
  • PAT at Rs 1,169 million translating to basic EPS (not annualized) of Rs 4.20.
  • Cash and cash equivalents increase 21.7% YoY to Rs 20,552 million.

Angan Guha, Chief Executive Officer and Managing Director, Birlasoft, said: “Our performance during the quarter under review demonstrates our ability to pursue deal closures, drive operational efficiencies, and generate consistently strong cash flows even in a seasonally weak quarter. Deal signings during the quarter at USD 226 million TCV have been the best during the current financial year. While higher than usual furloughs affected our revenue performance, we have been able to deliver a steady margin performance sequentially after absorbing much of the compensation increases rolled out for most of our employees during the quarter. We also continue to make investments aimed at enhancing our capabilities as well as partnerships, which we believe is key to creating a differentiated value proposition in the marketplace.”

Kamini Shah, Chief Financial Officer, Birlasoft, said: "Our revenue during the quarter under review, which witnessed higher than usual furloughs, grew 1.5% YoY to Rs 13,627 million. Our EBITDA margin stood at 12.0% for the quarter, representing only a marginal sequential decline even after implementing a salary increase effective October 1st covering most of the organization, on the back of multiple operational efficiency initiatives that we have been driving and some exchange rate tailwind. We also maintained our robust track record of strong quarterly collections and cashflow generation, resulting in a 21.7% rise YoY in cash and cash equivalents to Rs 20,552 million. Our DSO at 53 days continues to be among the best in the industry. Our robust cash flow and balance sheet enable us to make the investments necessary for future growth."

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IT Consulting & Software company Birlasoft announced Q2FY25 results

Financial Highlights:

  • Revenue at Rs 13,682 million, up 4.5% YoY.
  • EBITDA at Rs 1,653 million; EBITDA margin at 12.1%.
  • PAT at Rs 1,275 million translating to basic EPS (not annualized) of Rs4.59.
  • Cash and cash equivalents increase 29.0% YoY to Rs18,587 million.

Other Highilights:

  • Growth during Q2FY25 driven by Manufacturing, Energy & Utilities (E&U) and BFSI among verticals, by Digital & Data and ERP among service lines, and by Americas among geographies.
    • Manufacturing up 4.7%, E&U up 4.7% and BFSI up 1.4% QoQ while Lifesciences & Services (LSS) registered a sequential decline among verticals.
    • Digital & Data up 6.6% and ERP up 4.3% QoQ while Infra registered a decline QoQ.
    • The number of USD1Mn clients increased from 88 to 89, USD 5 million clients increased from 23 to 24 and USD 10 million clients remained stable QoQ.
    • Revenue from Top 5, Top 10 and Top 20 clients grew YoY by 12.6%, 6.3% and 4.7% respectively.
  • Signed deals of TCV USD 136 million during the quarter with new deal wins TCV of USD 89 million and renewals of USD 47 million.
  • Active Client Count at 261 in Q2FY25 (compared to 258 in Q1FY25 and 278 in Q2FY24).
  • Cash & Cash equivalents of USD 221.8 million by end of Q2FY25 versus USD 229.7 million at end of Q1FY25. In rupee terms, cash and cash equivalents at Rs18,587 M at the end of Q2FY25 versus Rs 19,143 million at the end of the preceding quarter.
  • Q2FY25 DSO at 58 days versus 52 days in Q2FY24.
  • The Board has recommended an interim dividend of Rs 2.50 per share. The record date for this payout will be 31st October 2024.
  • Workforce strength stood at 12,578 as on 30th September 2024 and attrition was 11.8% during Q2FY25 (compared to 11.6% a quarter ago and 15.0% a year ago).
  • During the quarter under review, Birlasoft achieved AWS Competency in Manufacturing and Industrial Consulting. This comes on the back of AWS Migration Consulting Competency attained by the company earlier, reflecting its deep expertise in delivering transformative digital solutions for the manufacturing and industrial sectors.

Angan Guha, Chief Executive Officer and Managing Director, Birlasoft, said: “We are pleased to report a strong rebound in our revenue performance during the quarter under review with broad-based growth across our top accounts, the Manufacturing, BFSI and E&U verticals, as well as the Digital & Data and ERP service lines. On a sequential basis, our Q2FY25 revenue grew by 2.6% in dollar terms. This was driven by ramp-ups in some projects that were earlier delayed, better account mining and incremental business from consolidation deals where we have gained wallet share. The investmentsthat we have been making to enhance our tech and domain capabilities as well as partnerships, which we believe is key for future growth, have already begun to see some early results reflected in a noticeable increase in the recognitions of our capabilities by leading industry analysts. This positions us well to capitalize upon the opportunities presented by a recovery in the demand environment as and when that happens.”

Kamini Shah, Chief Financial Officer, Birlasoft, said: "Our revenue during the quarter under review grew 4.5% year-on-year to Rs 13,682 million. We also maintained our robust track record of strong quarterly collections and consistent cashflow generation, resulting in a 29% rise year-on-year in cash and cash equivalents to Rs 18,587 milllion. Our DSO at 58 days remains healthy, enabling us to make the investments necessary to ensure that we have a differentiated value proposition in the marketplace. We expect margins to expand as these investments begin to pay-off,"

Result PDF

IT Consulting & Software company Birlasoft announced Q1FY25 results:

  • Revenue at Rs 13,274 million, up 5.1% YoY
  • EBITDA at Rs 1,951 million; EBITDA margin at 14.7%
  • PAT at Rs 1,502 million, up 9.2% YoY translating to basic EPS (not annualized) of Rs 5.41
  • Cash and cash equivalents increase 45.9% YoY to Rs 19,143 million

Angan Guha, Chief Executive Officer and Managing Director, Birlasoft, said, “Our performance during the quarter under review reflects a challenging operating environment and tightened discretionary spends by customers. In that backdrop, I am pleased to note that our Infra and ROW businesses, both historically smaller contributors to our revenue, have done particularly well on the back of our efforts to enhance our capabilities and footprint there. Our deal wins during the quarter are also up 10% year on year at $160 million. We continue to invest in our business across our verticals and service lines to strengthen our position as a domain and emerging tech capabilities-led player.”

Kamini Shah, Chief Financial Officer, Birlasoft, said: "Our revenue during the quarter under review grew 5.1% year on year to Rs 13,274 million. PAT for the quarter grew 9.2% year on year to Rs 1,502 million. Our quarterly collections continued to be strong, resulting in a 46% rise year on year in cash and cash equivalents to Rs 19,143 million. Our DSO improved sequentially to 52 days and on this key parameter we continue to be among the best in the industry. We have started the new financial year with a robust balance sheet and healthy cashflows that enable us to keep investing in capabilities for future growth even as we navigate through the current challenges in the macro-economic environment,"

Result PDF

IT Consulting & Software company Birlasoft announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

• Revenue:

  • Rs 13,625 million, up 1.5% QoQ and up 11.1% YoY
  • USD 163.9 million, up 1.6% QoQ and up 10.0% YoY
  • In constant currency terms, revenues up 1.6% QoQ

• EBITDA margin at 16.3%, PAT up 11.8% QoQ at Rs 1,801 million

FY24 Financial Highlights:

• Revenue:

  • Rs 52,781 million, up 10.1% YoY
  • USD 637.2 million, up 7.1% YoY
  • In constant currency terms, revenues up 6.7% YoY

• EBITDA margin at 15.8% and PAT up 88.1% at Rs 6,238 million translating to basic EPS of Rs 22.54

Angan Guha, Chief Executive Officer and Managing Director, Birlasoft, said, “We are pleased to report a robust operating performance for both the quarter and the full year, delivering revenue growth as well as margin expansion in the face of continued macro uncertainty. On a constant currency basis, our revenues have grown 9.1% ex Invacare during FY’24 and revenues during the fourth quarter are up 1.6% sequentially. While our nearterm outlook is likely to reflect the impact of shifts in customer priorities that affect both transformational and discretionary spends, we continue to invest in our capabilities such as Generative AI where we have been early adopters.”

Kamini Shah, Chief Financial Officer, Birlasoft said, "Our revenue during the financial year FY’24 grew 12.7%, after excluding Invacare contribution in FY’23 revenue, to Rs 52,781 million. This was accompanied by a strong margin performance with EBITDA margin expanding to 15.8%. We are exiting the year with an EBITDA margin of 16.3% during Q4FY’24. This has been achieved after absorbing the investments we have been making in our business. Our DSO at 55 days continues to be among the best in the industry. We have ended the year with a robust balance sheet, and we stay sharply focused on disciplined execution and operational efficiency,"

Result PDF

IT Consulting & Software company Birlasoft announced Q3FY24 results:

Financial Highlights

  • In INR:
    • Revenue at Rs 13,430 million, up 2.5% QoQ and up 9.9% YoY
    • EBITDA at Rs 2,143 million; EBITDA margin at 16.0%
    • PAT at Rs 1,611 million, up 11.0% QoQ translating to basic EPS (not annualized) of Rs 5.82
    • Cash and cash equivalents increased 17% QoQ to Rs 16,887 million
  • In USD:
    • Revenue at USD 161.3 million: up 1.9% QoQ and up 8.7% YoY
    • In constant currency terms, revenues up 1.8% QoQ
    • EBITDA at USD 25.7 million; EBITDA margin stable QoQ at 16.0%
    • PAT at USD 19.3 million, up 10.4% QoQ

Operational Highlights

  • Service Line Growth: The growth during Q3FY24 was propelled by all service lines, with Digital & Cloud services witnessing a YoY increase of 21.3%.
  • Client Metrics: Revenue from top clients grew YoY with Top 5, Top 10, and Top 20 clients by 18.1%, 17.9%, and 9.7% respectively. The total active client count was 272.
  • Deal Signings: The company signed deals of USD 218 million in Total Contract Value (TCV) during the quarter, consisting of USD 94 million in new deals and USD 124 million in renewals.
  • Cash Position and DSO: Cash and cash equivalents rose by 17% QoQ to USD 203.0 million. Days Sales Outstanding (DSO) improved to 51 days.
  • Workforce and Attrition: The workforce strength increased to 12,356 employees with attrition improving to 12.6% in Q3 FY24.

Angan Guha, Chief Executive Officer and Managing Director, Birlasoft, said, “We have delivered a strong and well-rounded operating performance, with a 1.9% sequential growth in revenue to USD 161.3 million in a seasonally soft quarter and an expansion in EBITDA margin even after absorbing the full impact of compensation hikes. Deal signings during the quarter at USD 218 million TCV too have been robust, comprising both renewals as well as net new engagements. We continue to invest in our capabilities and have further expanded our leadership team with the induction of Manjunath Kygonahally as chief executive for the Rest of the World (ROW) region. The fundamentals of our business remain solid, and we stay focused on execution.”

"Our revenue during the quarter under review grew 10% YoY to Rs 13,430 million. We delivered a strong margin performance too with EBITDA margin expanding to 16.0%, despite making sustained investments in our business and having rolled out an organization-wide compensation increase effective September 1st. We continued to generate strong cash flows with best-in-class DSO at 51 days, resulting in operating cash flow at 141% of EBITDA. Our sharp focus on disciplined execution and operational efficiency position us well to successfully navigate through the current macroeconomic environment," said Kamini Shah, Chief Financial Officer, Birlasoft.

Result PDF

IT Consulting & Software company Birlasoft announced Q1FY24 results:

  • In USD terms:
    • Revenue at USD 153.6 million: Up 3.1% QoQ & up 3.4% YoY
    • In constant currency terms, revenues are up 2.7% QoQ
    • EBITDA at USD 23.5 million; EBITDA margin expands 168 bps QoQ to 15.3%
    • PAT at USD 16.7 million, up 23% QoQ
  • In INR terms:
    • Revenue up 3.0% QoQ during Q1FY24 at Rs 12,628 million
    • EBITDA at Rs 1,931 million; up 15.7% QoQ, EBITDA margin at 15.3%
    • PAT at Rs 1,375 million, up 23% QoQ and 14% YoY, translating to basic EPS (not annualized) of Rs 4.97

Angan Guha, Chief Executive Officer, and Managing Director, Birlasoft, said, “We have delivered a robust operating performance during the quarter on both the revenue and margin fronts. I am pleased to note that our quarterly revenue has crossed the USD 150 million mark for the first time, increasing 3.1% sequentially to USD 153.6 million during Q1FY24. Our growthled performance during the quarter reflects our sharp focus on execution during a period that has been characterised by a high degree of macroeconomic uncertainty. We continue to strengthen our tech capabilities and have been early adopters of new technologies such as Generative AI where we have already developed multiple solutions.”

"Our revenue during the quarter under review grew 9.4% year-on-year and 3.0% quarter-on-quarter to Rs 12,628 million, while EBITDA margin expanded about 170 basis points to 15.3%. At the same time, we continued to generate strong cash flows with a quarterly collection of USD 153.7 million during Q1FY24, which is the third instance of quarterly collections crossing the USD 150 million mark in the last five quarters. We continue to prioritise financial discipline and operational efficiency as we navigate through the prevailing uncertain market conditions," said Kamini Shah, Chief Financial Officer, Birlasoft.

 

Result PDF

IT Consulting & Software company Birlasoft announced Q4FY23 & FY23 results:

  • Q4FY23:
    • In INR:
      • Revenue was up 3.2% QoQ during Q4FY23 (excluding Invacare revenues recorded in Q3FY23) at Rs 12,264 million
      • EBITDA at Rs 1,670 million; up 5.4% QoQ, EBITDA margin at 13.6%
      • PAT at Rs 1,122 million, translating to basic EPS (not annualized) of Rs 4.07
    • In USD:
      • Revenue at USD 149.1 million: Up 3.3% QoQ & up 6.4% YoY (after excluding Invacare revenues recorded in preceding periods)
      • In constant currency terms, revenues are up 3.1% QoQ (after excluding revenues recorded in the preceding quarter)
      • EBITDA at USD 20.3 million, EBITDA margin at 13.6%, up 20 bps QoQ
      • PAT at USD 13.6 million
  • FY23:
    • In INR:
      • Revenue at Rs 47,948 million, up 16.1% YoY
      • EBITDA at Rs 6,715 million; EBITDA margin at 14.0% (ex. one-time provision)
      • PAT at Rs 3,316 million, translating to basic EPS of Rs 11.96
    • In USD:
      • Revenue at USD 594.9 million; up 7.2% YoY
      • In Constant Currency (CC), revenue was up 9.1% YoY
      • EBITDA at USD 84.0 million, EBITDA margin at 14.0% (ex. one-time provision)
      • PAT at USD 41.6 million
  • The Board of Directors recommended a final dividend of Rs 2 per share
    • This follows an interim dividend of Rs 1.50 per share paid out in November 2022
    • The company had also concluded a share buyback during the year under review amounting to approx. Rs 4,750 million (incl. taxes).

Angan Guha, Chief Executive Officer, and Managing Director, Birlasoft, said, “We are pleased to report a strong operating quarter with robust revenue and EBITDA margin performances in continuing business. Deal signings during the quarter at USD 286 million TCV have been the best during the year under review. The solid fundamentals of our business, the investments being made in enhancing our capabilities, and the momentum with which we are entering the new financial year positions us well to meet the challenges of an increasingly uncertain macroeconomic environment and shifts in customer priorities going forward.”

"Revenues for the financial year FY'23 have grown 16.1% to Rs 47,948 million, and cash flow from operations was 100% of adjusted EBITDA on the back of sustained focus on collections resulting in best-in-class DSO of 53 days. We have ended the year with a robust balance sheet and believe that a restructured organisation, sharper focus, and disciplined execution should position us well to successfully navigate through the prevalent macroeconomic environment," said Kamini Shah, Chief Financial Officer, Birlasoft.

 

Result PDF

IT consulting & software firm Birlasoft announced Q3FY23 results:

  • Q3FY23:
    • INR:
      • Revenue at Rs 12,219 million, up 14.0% YoY & up 2.5% QoQ.
      • EBITDA at Rs 74 million; EBITDA excluding one-time provision at Rs 1,584 million.
      • PAT at Rs (164) million, reflecting the impact of a one-time provision
    • US$:
      • Revenue at US$ 148.4 million; up 3.5% YoY, down 0.3% QoQ
      • In Constant Currency (CC), revenue was up 5.5% YoY and flat QoQ
      • EBITDA at US$ 0.9 million; EBITDA excluding the one-time provision of US$ 19 million.
      • PAT at US$ (2.0) million, reflecting the impact of a one-time provision.

Mr. Angan Guha, Chief Executive Officer and Managing Director, Birlasoft, said, “Our revenues for the quarter have grown 14% YoY and 2.5% QoQ to Rs 12,219 million. Deal wins have also been strong at US$ 231 million TCV for the quarter. We continue to strengthen our position as a domain and enterprise digital capability-led player. The business is fundamentally robust and we are making the investments necessary for future growth, which makes me confident about our outlook going forward.”

Result PDF

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