Customer Count
46
+4 YoY
Serving 46 telcos across 35 countries, up from 42 last year.
PELATRO
Other
28 May 2026
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.
✓ Verified against BSE filing
2-Min Summary
✦ AI-Generated from Full Transcript
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.
Key Numbers
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.
Management Guidance
15% annual organic revenue growth
Management commits to at least 15% organic revenue growth per annum over the next five years, excluding any acquisitions.
Management guidance revenueEBITDA margin target of 30%
EBITDA margins expected to reach 30% in the next 2-3 years, driven by operating leverage and AI-led cost reductions.
Management guidance margins82% of FY27 revenue already contracted
At the start of FY27, 82% of the internal revenue target is under contract, providing high visibility.
Management guidance revenueAI to reduce cost per dollar of revenue
AI integration in development and support is expected to lower cost per dollar of revenue over the next 18-24 months.
Management guidance marginsKey Risks
Long telco sales cycles
Telco decision-making is slow, with average sales cycles of 10-12 months, which could delay revenue recognition.
medium · management_commentaryGeopolitical and political risks
Management cited 'political reasons' as a key factor for losing deals or getting replaced, without elaborating.
medium · management_commentaryAI disruption threat to product relevance
An analyst questioned whether generic LLMs could replace Pelatro's platform; management argued complexity makes it unlikely, but the risk remains.
low · analyst_questionCustomer concentration
Top 5 customers contribute ~40% of revenue, posing a concentration risk if any are lost.
medium · data_observationNotable Quotes
We are absolutely confident of excellent growth in the years to come and we are committing to at least 15% annual growth on revenue organic growth.
If you look at our EBITDA growth, you will see it is upwards of 80%... that nonlinearity will continue in the years to come will only accelerate because of AI.
We lose out because of political reasons and we could get replaced because of political reasons but not because of technical reasons.
Frequently Asked Questions
What was Pelatro's revenue in Q4 FY26?
Pelatro reported revenue of ₹39 Cr in Q4 FY26, representing a +61.2% change compared to the same quarter last year.
What guidance did Pelatro management give for FY27?
15% annual organic revenue growth: Management commits to at least 15% organic revenue growth per annum over the next five years, excluding any acquisitions. EBITDA margin target of 30%: EBITDA margins expected to reach 30% in the next 2-3 years, driven by operating leverage and AI-led cost reductions. 82% of FY27 revenue already contracted: At the start of FY27, 82% of the internal revenue target is under contract, providing high visibility. AI to reduce cost per dollar of revenue: AI integration in development and support is expected to lower cost per dollar of revenue over the next 18-24 months.
What are the key risks for Pelatro in FY27?
Key risks include Long telco sales cycles — Telco decision-making is slow, with average sales cycles of 10-12 months, which could delay revenue recognition.; Geopolitical and political risks — Management cited 'political reasons' as a key factor for losing deals or getting replaced, without elaborating.; AI disruption threat to product relevance — An analyst questioned whether generic LLMs could replace Pelatro's platform; management argued complexity makes it unlikely, but the risk remains.; Customer concentration — Top 5 customers contribute ~40% of revenue, posing a concentration risk if any are lost..
Did Pelatro meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Pelatro Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary verified against official BSE/NSE filings.