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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
₹49 Cr
verified against source
Revenue YoY
30%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Infollion crossed ₹114.73 Cr revenue in FY26, up ~30% YoY, with PAT at ₹12.72 Cr and free cash flow over ₹8 Cr. Core India business showed resilience but H2 volumes moderated, especially in March (25% below run-rate). Three new initiatives—Hooka (L&D), US corridor, and MENA—contributed ~₹1 Cr revenue, with Hooka crossing first crore and MENA growing faster than expected. Management turned aggressive on pricing to gain market share, compressing gross margins, while employee costs rose ~25% due to expansion hires. No specific FY27 guidance given; medium-term outlook hinges on India economy and consulting demand. Risk: sustained volume weakness in core India business if consulting spending slows further.
Colored figures show movement against the previous available record.
Guidance to track
- Management targets US operations to break even once revenue reaches roughly $1 million (₹8-10 Cr), after which hiring in US will commence.
- For the core India business, employee additions will be much slower than revenue growth, implying operating leverage.
- Company aims to migrate from SME to mainboard once all criteria are met, including 3-year SME listing and ₹100 Cr turnover (achieved).
Risks flagged
- March saw 25% lower daily project inflow; if this persists, revenue growth could stall.
- Gross margins fell due to free CD calls and volume discounts; management cannot predict when margins will recover.
- Analyst raised concern that clients may use AI for shallow research, reducing call volumes. Management downplayed but acknowledged risk.
- Employee expenses rose 25% vs 30% revenue growth; further hiring in US and Hooka could pressure margins.
Key quotes
- We are nothing but a derivative of these three or four categories: strategy consulting, private equity investments, and public markets AUM.
- We have been saying this right from our IPO road show days that the reason we exist is because this information and human in the loop and that intuitive ability of experts is what we bring on the table.
- We are very aggressive. We want to be dominant within our India market. We are probably equal to the next two or three combined now.
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