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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹209 Cr
verified against source
Revenue YoY
53.4%
reported change
EBITDA
₹12.25 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Esconet Technologies reported consolidated revenue of ₹357 crore for FY26, up 53.4% YoY, driven by enterprise customer expansion and infrastructure projects. EBITDA stood at ₹12.25 crore, impacted by component cost inflation and strategic investments in cloud, cybersecurity, and indigenous computing. PAT was ₹6.16 crore, declining YoY due to margin compression and finance costs. The second half showed strong recovery with H2 EBITDA up 183% vs H1. Management highlighted Nvidia Elite partner status and Red Hat certification as key differentiators. Guidance focuses on margin improvement, scaling cybersecurity, and achieving MeitY empanelment for ZCloud. Risk: component price volatility could again pressure margins if not adequately hedged.
Colored figures show movement against the previous available record.
Guidance to track
- Management aims to improve profitability through better business mix and higher contribution from scalable platforms.
- Accelerate Fluid's growth by leveraging its NCIPC accreditation and expanding customer base.
- Empanelment will allow ZCloud to host government and public sector data, driving significant growth.
- Continue developing HexaData's server and AI computing portfolio to capture growing demand.
Risks flagged
- Sharp increases in component costs in H1 FY26 compressed margins; similar volatility could recur if not adequately hedged.
- Employee costs and other expenses rose significantly; management acknowledged costs will rise further to reach ₹500-600 Cr revenue, potentially pressuring margins.
- ZCloud's growth hinges on achieving empanelment; delays or failure could limit government sector opportunities.
- Singapore contributed ~₹50 Cr revenue with minimal profitability; management cited confidentiality, raising transparency concerns.
Key quotes
- H1 was a surprise for everyone in the industry that was the start of the chip price escalation globally. Nobody knew that this phase is coming.
- Hexa data is significantly growing faster than the other verticals within Esconet as of now and I see that Hexa would be the lead for Esconet in terms of revenue growth in the coming years.
- With empanelment, ZCloud will definitely be eligible to not only government data but public sector data as well as certain critical data which can only be hosted with a category called government cloud capability.
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