Marushikatechnology earnings calls.

Marushika Technology delivered a strong FY26 with 36.6% revenue growthCurrent reported value: 36.6% revenue growth. No comparable prior figure is available in the source record. to Rs 11,043 lakh and 42.5% PAT growthCurrent reported value: 42.5% PAT growth. No comparable prior figure is available in the source record. to Rs 895 lakh, driven by 184% surge in service revenue (from Rs 1,744 lakh to Rs 4,961 lakhCurrent 4,961 lakh. Reported change: +184% YoY.). EBITDA grew 48% to Rs 1,594 lakh with margin expansion of 174bps. Management attributes outperformance to execution across data center, cybersecurity, and defense verticals, with the defense auto-tech segment emerging as a key growth engine within 1.5 years. The order book stands at over Rs 35 croreCurrent 35 crore. Reported change: +Build from scratch. with 3 new electronics orders secured. The company is adding LMS/SaaS platforms, AI-based solutions (targeting 5-10%Current 5-10%. Reported change: Contribution target. revenue contribution), and expanding data center electronics by 15-20%. Margin sustainability is underpinned by higher-margin service income and managed services expansion. Risk includes government payment delays, though management notes zero penalties on 150+ completed projects. The stock trades ~25% below IPO price, with management committing to regular earnings calls for investor engagement.