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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
₹308 Cr
verified against source
Revenue YoY
—
reported change
EBITDA
₹39.7 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Kellton Tech reported Q3 FY26 revenue of ₹308 crore, up 2.7% QoQ, with EBITDA of ₹39.7 crore (12.9% margin) and PAT of ₹25.5 crore (8.3% margin). Growth was driven by AI-led legacy modernization and ServiceNow deals, including a 4-million-line code conversion project. Management highlighted 20-30% efficiency gains on outcome-based projects via AI tools, but noted most clients restrict AI use in T&M contracts, limiting margin expansion. Guidance remains vague; no specific revenue or margin targets were provided. A key risk is that AI efficiency benefits may be passed to clients rather than retained, capping margin upside. The SAS sell-off was dismissed as a market overreaction, with management confident in enterprise demand.
Colored figures show movement against the previous available record.
Guidance to track
No guidance to track were recorded for this quarter.
Risks flagged
- Management stated that most clients restrict AI use in T&M contracts and demand pricing concessions, limiting margin expansion from productivity gains.
- Analyst raised concern about SAS stock declines and AI replacing services; management dismissed as temporary but acknowledged potential impact on per-seat revenue.
- Management noted they are only at RFP stage for data center projects, with no revenue visibility yet.
Key quotes
- We are seeing between 20% to 30% efficiency gains on new projects.
- Majority of our customers are telling us we cannot use AI.
- The SAS fiasco was just a market reaction to something that Anthropic Claude released. It really is nothing but about 11 or 12 widgets or plugins.
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