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Order inflow delays due to election code of conduct
View Risks →Ceinsys Tech Limited — Q3 FY26
Ceinsys Tech (rebranded as CStech AI) delivered a stellar Q3 FY26 with revenue of ₹170 crore (+52% YoY), EBITDA of ₹40 crore (+88% YoY), and PAT of ₹39 crore (+119% YoY).
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Ceinsys Tech (rebranded as CStech AI) delivered a stellar Q3 FY26 with revenue of ₹170 crore (+52% YoY), EBITDA of ₹40 crore (+88% YoY), and PAT of ₹39 crore (+119% YoY). EBITDA margin expanded 452 bps to 23.48%, driven by operating leverage and a shift toward higher-margin technology solutions. Geospatial & engineering services revenue surged 122% YoY to ₹109 crore, while technology solutions dipped 3% to ₹61 crore. The order book stood at ₹999 crore as of December 31, 2025, with new orders of ₹170 crore in Q3. Management cited election-related code of conduct delays for slower order inflows but expects a strong Q4 pipeline. Strategic MoUs with Tech Mahindra and Etos Sky aim to expand global footprint, particularly in the US and Middle East. Key risk: continued delays in government order conversions could pressure FY27 revenue visibility.
सीन्सिस टेक (अब CStech AI) ने वित्त वर्ष 2026 की तीसरी तिमाही में शानदार प्रदर्शन किया। कंपनी की कमाई 170 करोड़ रुपये रही, जो पिछले साल से 52% ज्यादा है। मुनाफा 39 करोड़ रुपये रहा, जो 119% बढ़ा। कंपनी का मार्जिन (कमाई पर मुनाफे का अनुपात) 23.48% हो गया, जो पहले से बेहतर है। भू-स्थानिक और इंजीनियरिंग सेवाओं से कमाई 122% बढ़कर 109 करोड़ रुपये हो गई, जबकि टेक्नोलॉजी सेवाओं में 3% गिरावट आई। कंपनी के पास 999 करोड़ रुपये के ऑर्डर हैं। प्रबंधन का कहना है कि चुनाव आचार संहिता के कारण ऑर्डर लेने में देरी हुई, लेकिन अगली तिमाही में अच्छी वृद्धि की उम्मीद है। टेक महिंद्रा और एटोस स्काई के साथ समझौते से अमेरिका और मिडिल ईस्ट में विस्तार होगा। जोखिम: सरकारी ऑर्डर में देरी से अगले साल की कमाई प्रभावित हो सकती है।
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Geospatial & Engineering Services Revenue
₹109 Cr
+122% YoY
Revenue from geospatial and engineering services grew 122% year-on-year to ₹109 crore in Q3.
Order Book
₹999 Cr
-16% QoQ
Closing order book as of December 31, 2025, stood at ₹999 crore, down from ₹1,192 crore at Q2 end.
New Orders Booked
₹170 Cr
N/A
New orders booked in Q3 (excluding mobility and product services) totaled ₹170 crore.
Working Capital Cycle
160-162 days
Flat QoQ
Net working capital cycle remained in the range of 160-162 days, with collections matching revenue at ₹170 crore.
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Guidance and risk preview
Management expects to close the order book at around ₹900 crore by the end of Q4 FY26, despite delays due to election code of conduct.
Management cited that back-to-back election code of conduct periods lost four months of operational time, delaying order closures and potentially i...
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