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eMudhra Management Guidance Tracker

8 forward-looking guidance items tracked across 2 quarters.

Revenue

Q3 FY26FY26 Revenue Guidance Maintained at INR 700 CroreActive

Management reiterated the full-year revenue target of INR 700 crore, implying Q4 revenue of ~INR 184 crore.

Q4 FY26FY27 organic revenue growth of ~18%Tracked

Management expects organic revenue growth of around 18% for FY27, with enterprise solutions growing 25-30% and trust services 20%.

Growth

Q3 FY26Organic Growth Expected at 18-19% for FY27Tracked

Management guided for organic growth of 18-19% in FY27, driven entirely by product-led revenues.

Q4 FY26Cryptos to contribute ~$1M profit in FY27Tracked

Management expects Cryptos to generate over $1 million profit in FY27, contingent on successful cross-selling of CLM platform.

Capex

Q3 FY26Capex of INR 60-65 Crore for FY26 (Excluding Data Center)Active

Capital expenditure for FY26 is planned at INR 60-65 crore, with ~75% already incurred, plus INR 15 crore for UAE data center.

Other

Q3 FY26No Acquisitions Expected in Next 6-9 MonthsTracked

Management stated no immediate acquisition plans, focusing on integration of past acquisitions.

Margins

Q4 FY26FY27 PAT growth of 27-28%Tracked

PAT expected to grow 27-28% in FY27, driven by higher-margin product mix, with a goal to double PAT in three years.

Ai Strategy

Q4 FY26Selective bolt-on acquisitions in AI/cybersecurityTracked

Open to small acquisitions in US for AI-based cybersecurity capabilities, but no active pipeline currently.