EXATOTECHNOLOGIES Q1 FY27 earnings call.
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Revenue
₹43.68 Cr
verified against source
Revenue YoY
50%
reported change
EBITDA
Pending
latest reported figure
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record provenance
Actual signal trajectory
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What the record says.
Exato Technologies delivered a strong Q1 FY27 with 50% revenue YoY growth, 82% EBITDA growth, and 104% PAT growth, driven by international expansion and higher-margin deal execution. The order book expanded from Rs 600 CR to Rs 660 CR, with Rs 251 CR already executed leaving Rs 410 CR to execute. International revenue contributed 27.2% of total revenue, with the US and UK emerging as key growth markets. New leadership hires including ex-TCS CTO Murli Manan and HPE partnership strengthen AI infrastructure capabilities. The company targets 60-70%+ revenue growth and 70-80%+ profitability growth for FY27, with AI infrastructure expected to contribute 25-30% of business. Key risks include customer concentration (top 5 clients contribute ~60% revenue) and relatively lower initial margins (10-12%) in the AI infrastructure vertical. The company is pursuing both organic growth (targeting 500 customers) and inorganic expansion through acquisitions in existing verticals.
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Guidance to track
- Management expects revenue to grow at 60-70% or even more based on strong pipeline visibility and international expansion momentum.
- PAT and EBITDA growth expected to exceed 70-80% driven by higher-margin international deals and operating leverage.
- Company targets ARR to reach ₹180-200 CR by end of FY27, driven by international deal wins and existing account expansion.
- Newly formed AI infrastructure vertical expected to contribute 25-30% of total FY27 revenue, with initial margins of 10-12% improving as land-and-expand strategy matures.
Risks flagged
- Top 5 clients contribute approximately 60% of total revenue. While management emphasizes non-cancellable long-term contracts (3-5 years) and high customer stickiness, any significant client loss could materially impact financials.
- The new AI infrastructure vertical is expected to have relatively lower margins (10-12% initially) compared to core CX business, which could pressure overall margins during the growth phase.
- Analyst questioned whether traditional IT services companies could replicate Exato's niche CX+AI bundled offering. Management cited data security, compliance expertise, and OEM partnerships as barriers but acknowledged competitive threat.
- Despite 60% revenue concentration in top 5 clients, management did not voluntarily flag this as a risk during prepared remarks, only addressing it when directly questioned by an analyst.
Key quotes
- We posted year-on-year growth of 50% on the revenue side which is a quite significant growth... in terms of PAT the year growth is 104%. This significant growth in margin is obviously from strong contribution from international business side.
- We are expecting some revenue to start from this month next month itself. We are eyeing we are on verge of closing signing agreement and closing two deals. New clients both are new clients and margins are going to be in the range of 40 to 50% for this IP revenue.
- The reason we brought these people on board is when the vision is there to grow multiple fold it is very important to build a strong foundation to build the scale. Scale is something which is very very critical and what is needed in the market today is actually the new digital native which brings in lot of agility, scale, delivery rigor, delivery certainty and domain knowledge.
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