Revenue target of Rs 3,000 crore by FY28
Management confirmed targeting Rs 3,000 crore revenue in the next 2-3 years, implying a near doubling from current levels driven by US growth and new market entries.
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revenue
Rs 5,000 crore revenue target in 5-7 years
Long-term goal of Rs 5,000 crore revenue by approximately FY30-FY32, requiring new infrastructure investment and geographic expansion.
EBITDA margin north of 20%
Management expects margins to sustain at 20% or better going forward, with Q3 expected to be similar to Q2 on seasonal basis.
Germany operations starting Q1 FY26
Organic market entry in Germany with employee hiring and office setup in progress. Full operations expected from Q1 FY26 with revenue contribution from H2 FY26.
Revenue Milestone: ₹4,000 crore in 2-3 years
Management reiterated its first milestone target of ₹4,000 crore revenue within the next 2-3 years (FY28-29), driven by current portfolio strength without factoring in new geographies.
US Order Book Target: $300 million by FY28
The US order book stands at $220+ million with management targeting to grow it to $300 million by FY28, supporting ~20% US revenue growth trajectory.
R&D Spend: 2.5-3% of Revenue
R&D expenditure will remain elevated at 2.5-3% of revenue for the next year, supporting aggressive UK filings (4-5 products/month) and Europe product development.
Europe M&A: 2026 Inflection Point
Management expects 2026 to be a turning point for Europe with potential closure of 1-2 acquisitions, though deal sizes were not quantified pending advanced-stage discussions.
Revenue target of Rs 4,000 crore in 2 years
Management confirmed the Rs 4,000 crore revenue target remains on track within the next two years, underpinned by new market entries and pipeline expansion.
FY27 revenue growth of 15-20%
Conservatively guiding for 15-20% revenue growth in FY27, citing confidence in execution and multiple growth drivers across geographies.
EBITDA margins to remain at 20-21% range
Despite raw material inflation headwinds in Q1 FY27, management expects full-year FY27 EBITDA margins to remain in the 20-21% range.
M&A transactions expected in 2027
With Rs 990 crore cash on books, management is in active due diligence on one target and preliminary discussions on another, expecting transactions to close in 2027.