Risks
4 risks
Risk Intelligence
Long telco sales cycles
View Risks →Pelatro limited — Q4 FY26
Pelatro delivered a strong Q4 FY26 with consolidated revenue of ₹138.23 crore (+61.2% YoY), driven by 36% organic growth in the CVM division and a 9-month contribution from the acquired Estel division.
bullish
high
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Pelatro delivered a strong Q4 FY26 with consolidated revenue of ₹138.23 crore (+61.2% YoY), driven by 36% organic growth in the CVM division and a 9-month contribution from the acquired Estel division. EBITDA grew 76% YoY to ₹31.5 crore, with margins expanding 190 bps to 22.8%, reflecting operating leverage and nonlinearity. PAT rose 52% to ₹18.1 crore. Management guided for at least 15% annual organic revenue growth over the next five years and EBITDA margins reaching 30% in 2-3 years, supported by AI-driven cost efficiencies and product enhancements. Key risks include long telco sales cycles and potential geopolitical disruptions in key markets.
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Customer Count
46
+4 YoY
Serving 46 telcos across 35 countries, up from 42 last year.
Repeat Revenue %
82%
+2pp YoY
Recurring (60%) + reoccurring (22%) revenue provides high visibility.
Product Penetration per Telco
1.3
flat YoY
Average number of products used per customer out of 8 total.
Market Penetration
10%
+1pp YoY
Penetrated 46 of ~450 telcos globally; target 20-25% in 4-5 years.
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Guidance and risk preview
Management commits to at least 15% organic revenue growth per annum over the next five years, excluding any acquisitions.
Telco decision-making is slow, with average sales cycles of 10-12 months, which could delay revenue recognition.
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