DiGiSPICE Technologies Limited — Q4 FY26
DiGiSPICE reported a solid FY26 with revenue from continuing operations at ₹464 crore (+4% YoY), EBITDA at ₹37 crore (2.4x YoY), and PAT at ₹25 crore (vs ₹6.5 crore last year).
bullish
medium
✓ Verified against BSE filing
Claim Ledger
Did management answer the analysts?
Every material analyst question, graded on whether management actually answered it — with the verbatim exchange and quantitative claims checked against filed numbers.
60%Questions answered2Evaded / deflected10Questions auditedContradictedNumbers vs filing
Partial answer
High priority
Outlook on topline growth and EBITDA margins for FY27 and FY28.
Asked by Rush Seafi, Robo Capital
Management gave a profitability growth target but avoided topline and margin details.
no topline growth guidanceonly profitability growth mentionedno margin specifics
Read the exchange
Question
I just wanted to know your outlook on topline growth and EITA margins for FI 27 and 28.
Unnamed management (likely CEO or CFO)
we expect that at least uh in the profitability terms we uh should be clocking uh 20% growth uh year on year in the coming uh 2 3 years what we in vis
Answered
Medium priority
Plans to increase presence in southern India.
Asked by Sisha, Swve Investments
Management clearly stated plans to expand in South India with a timeline.
Read the exchange
Question
do you have any plans to increase your presence in the southern part of India?
Unnamed management
we believe that there's an opportunity for us to grow in south. ... we hope and believe that over the next 2 three years we can create a presence in the south akin to the presence we have in the north.
Partial answer
High priority
Growth and revenue from Adikari loans, and interest rate charged.
Asked by Sisha, Swve Investments
Management gave growth multiple and interest rate range but no revenue numbers.
no revenue figure givengrowth in multiples not absolute
Read the exchange
Question
what is the growth and revenue expected from that and uh what is the rate of interest which you are charging to them?
Unnamed management
we can see this business growing from an X factor point of view like we are hoping that this business can grow 2 to 3x every year. ... the interest rate uh is uh almost 32 to 36% uh that uh we charge
Evasive
High priority
Impact of macroeconomic uncertainties on financials.
Asked by Sisha, Swve Investments
Management acknowledged impact but gave no specifics or quantification.
no specific impactdeferred to wait and watch
Read the exchange
Question
given the macroeconomic uncertainties which we are having what will there be any significant impact on our financials?
Unnamed management
it will be wrong to say that there will not be an impact. We just have to wait and watch uh what that impact will be.
Answered
Medium priority
Reason for subdued Q3 and Q4 revenue vs H1; is it a trend?
Asked by Individual Investor
Management explained seasonality and diversification efforts to mitigate.
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Question
last financial year ... Q1 and Q2 saw a good traction in the revenues then Q3 and Q4 were a little subdued. So I mean is will this be a trend going forward?
Unnamed management
our main product is APS and ... what we saw in H1 compared to H2 last year is seasonality with respect to subsidy cycles.
Partial answer
High priority
How UPI cash point works and market opportunity size.
Asked by Individual Investor
Management explained the product and gave current volumes but not market size.
no total addressable market sizeonly current run rate given
Read the exchange
Question
can you just explain how does it work and what will be the opport opportunity size of this market and all just highlight.
Unnamed management
we are seeing our business grow month on month ... this month ... already tracking close to 100 crores of cash withdrawal ... which is like a 3x compared to last month
Answered
Medium priority
License requirements and regulatory hurdles for UPI cash point.
Asked by Individual Investor
Management clarified no separate license needed, explained BC framework.
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Question
do we require a separate license for UBI cash fund and how I mean if a new player wants to get in how much time uh do they take for acquiring the license?
Unnamed management
it is a partnership with the bank uh under the business correspondent uh framework of the regulator.
Evasive
Medium priority
Target for banking outlet expansion in next financial year.
Asked by Rahul Luja, Finwell
Management did not provide a target, citing pending guidelines.
no target givendeferred to regulatory clarity
Read the exchange
Question
what is your target for banking outlet expansion in the next financial year as while the company has already opened 200 plus outlets in FI26.
Unnamed management
we are waiting for these business correspondent banking outlet guidelines to be a little cleared. ... we have an opportunity to roll out a significant coverage once the guidelines are clear
Answered
Medium priority
Initiatives to improve customer activity levels.
Asked by Rahul Luja, Finwell
Management described specific initiatives to boost customer activity.
Read the exchange
Question
what are the initiatives being taken to improve the customer activity levels?
Unnamed management
we are in the process of launching our own customer app ... creating a proper CRN program ... to help our agents engage with customers
Partial answer
High priority
Reason for sharp deterioration in EBITDA and gross margins QoQ.
Asked by Rahul Luja, Finwell
Management cited one-time adjustments but did not quantify or explain fully.
no EBITDA margin figureblamed one-time adjustments without detail
Read the exchange
Question
what drove the s sharp deterioration in the uh margins despite stable GTV is it like seasonal or structural or just one time in nature?
Unnamed management
quarter four uh we have a gross margin of 48.6 crores which is a 3 crores uh down from the previous quarter. ... there was a some one-time adjustment in the previous quarters ... so it's a one time per year and closer sometime adjustments are there
Quantitative claims vs filed numbers
| Claim | Management said | Filing | Verdict |
|---|---|---|---|
| Profitability growth target of 20% YoY for next 2-3 years | 20% | 284.6% | Understated vs filing |
| Full year revenue FY26: 2001 crores | ₹2,001 cr | ₹107.17 cr | Overstated vs filing |
| Quarterly revenue run rate 50-52 crores | ₹51 cr | ₹107.17 cr | Understated vs filing |
Filed figures sourced from Screener.in. Claims within a small tolerance of the filing are marked “matches filing”.