ROXHITECH Q4 FY26 earnings call.
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Revenue
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verification pending
Revenue YoY
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reported change
EBITDA
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latest reported figure
Source
bse pending
record provenance
Actual signal trajectory
Where this quarter sits.
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What the record says.
Roxhitech reported FY26 total income of ₹210.63 crore with 11.33% YoY growth, EBITDA of ₹30.51 crore, and PAT of ₹17.64 crore. H2 FY26 showed total income of ₹99.67 crore with EBITDA margin of 13.86%. The margin compression stems from supply-side disruptions in Q1 FY26 (semiconductor shortages, West Asia crisis, rupee depreciation) forcing higher-cost procurement. Management targets 20% revenue growth for FY27 citing strong pipeline visibility and Q1 momentum. Medium-term guidance points to ₹500-750 crore revenue by FY30 driven by AI/automation adoption (currently 3-4% of revenue with 8 live customers), NOC/SOC expansion (25 clients onboarded, targeting 100 in 3 years contributing 15% revenue), and international wins including a $1 billion 3-year contract. Working capital improved from 170 to 151 days. Key risks include rupee depreciation and inventory normalization pending supply chain stabilization expected by September.
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Guidance to track
- Management targets 20% revenue growth for FY27 with Q1 and H1 appearing strong, contingent on no further macroeconomic disruptions or supply chain issues.
- At 20% annual growth, Roxhitech targets ₹500 crore organically; with national expansion and planned acquisitions, ₹750 crore is deemed achievable.
- Security and network operations center targeting 100 customers within 3 years, contributing approximately 15% of overall revenue.
- Management expects margins to normalize as supply chain conditions improve and input costs stabilize from Q2 FY27 onward.
Risks flagged
- Management explicitly flagged rupee depreciation as a significant risk, noting it increases cost of imported goods and directly impacts margins for hardware-dependent projects.
- Inventory days increased from 137 to 164 due to cascading project delays from JFM supply disruptions. Management expects normalization by September but working capital remains elevated.
- Two acquisition targets identified (manpower services firm adding ₹5-6 million revenue; 50% stake in data center company). Soft agreements in place but no binding deals finalized—execution and integration uncertainty remains.
- Management declined to provide geographical revenue bifurcation and segment-wise breakdown despite multiple analyst requests, citing competitive sensitivity. This opacity limits investment analysis.
Key quotes
- We had to procure at higher cost so to fulfill project commitments to customers. So there was a slight dip in the overall margins but as markets normalize going forward I think we should be able to go back to our previous numbers.
- Today an enterprise has no other choice but to adopt AI. Lot of CFOs are mandated today to include AI adoptions in their finance process so that they can create efficiency and they can reduce dependency on human latency.
- We have already started booking revenues on AI maybe it must be around 3% to 4% of our overall revenue but to become a very substantial number market will grow because today we need data center capabilities, we need good network capabilities.
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