Seshaasai Tech Reports Strong Q2 Growth in FY26

13 Nov 2025 CW Team

Q2 FY26 Highlights (Consolidated)

Revenue from operations: Rs 3.52 billion, up 13.3 per cent quarter-on-quarter.

Strong contributions across verticals:

Payment Solutions: 51.1 per cent of revenue

Communication & Fulfilment: 37.8 per cent

IoT Solutions: 10.8 per cent (vs 6.9 per cent in Q2 FY25), an increase of Rs 106.6 million year-on-year

EBITDA: Rs 951.1 million, up 29 per cent sequentially

EBITDA margin: 26.9 per cent, an improvement of 336 bps

PAT: Rs 575.3 million, up 56.2 per cent sequentially

PAT margin: 16.3 per cent, an improvement of 452 bps

Top 10 customers contributed 63.5 per cent of revenue

The growth in profitability was driven by an improved gross margin of 45.9 per cent, compared to 41.2 per cent in Q2 FY25.

H1 FY26 Highlights (Consolidated)

Revenue from operations: Rs 6.63 billion

EBITDA: Rs 1.69 billion, with an EBITDA margin of 25.3 per cent, up 54 bps year-on-year

PAT: Rs 943.7 million, with a PAT margin of 14.2 per cent

Gross margin improved to 45.2 per cent, compared to 40.9 per cent in H1 FY25

Management Commentary

Managing Director Pragnyat Lalwani said the company delivered another strong quarter, with sustained growth across its core business lines. Payment Solutions remained the largest contributor, while IoT Solutions gained meaningful traction and increased its share of overall revenue.

He added that the company is deepening engagement with key clients, expanding into new product categories, and investing in IoT and RFID technologies, including Bluetooth Low Energy and sensor-based innovations.

Chief Financial Officer Pavan Kumar highlighted strong operational leverage during the quarter, driven by topline growth and improved margins. Gross margin rose to Rs 1.62 billion, up 16.7 per cent sequentially. EBITDA grew 29 per cent, while PAT increased 56.2 per cent quarter-on-quarter.

He noted that the company has repaid Rs 3 billion of debt from its IPO proceeds, strengthening the balance sheet and supporting long-term sustainable growth.

Seshaasai Technologies said it will continue to focus on expanding customer wallet share, enhancing global presence, and building a smarter, more connected supply-chain ecosystem through innovation.

Seshaasai Technologies Limited, a technology-led solutions provider in payments, communication, and IoT, has announced its financial results for the second quarter and half year ended 30 September 2025, delivering another period of strong consolidated performance. Q2 FY26 Highlights (Consolidated) Revenue from operations: Rs 3.52 billion, up 13.3 per cent quarter-on-quarter. Strong contributions across verticals: Payment Solutions: 51.1 per cent of revenue Communication & Fulfilment: 37.8 per cent IoT Solutions: 10.8 per cent (vs 6.9 per cent in Q2 FY25), an increase of Rs 106.6 million year-on-year EBITDA: Rs 951.1 million, up 29 per cent sequentially EBITDA margin: 26.9 per cent, an improvement of 336 bps PAT: Rs 575.3 million, up 56.2 per cent sequentially PAT margin: 16.3 per cent, an improvement of 452 bps Top 10 customers contributed 63.5 per cent of revenue The growth in profitability was driven by an improved gross margin of 45.9 per cent, compared to 41.2 per cent in Q2 FY25. H1 FY26 Highlights (Consolidated) Revenue from operations: Rs 6.63 billion EBITDA: Rs 1.69 billion, with an EBITDA margin of 25.3 per cent, up 54 bps year-on-year PAT: Rs 943.7 million, with a PAT margin of 14.2 per cent Gross margin improved to 45.2 per cent, compared to 40.9 per cent in H1 FY25 Management Commentary Managing Director Pragnyat Lalwani said the company delivered another strong quarter, with sustained growth across its core business lines. Payment Solutions remained the largest contributor, while IoT Solutions gained meaningful traction and increased its share of overall revenue. He added that the company is deepening engagement with key clients, expanding into new product categories, and investing in IoT and RFID technologies, including Bluetooth Low Energy and sensor-based innovations. Chief Financial Officer Pavan Kumar highlighted strong operational leverage during the quarter, driven by topline growth and improved margins. Gross margin rose to Rs 1.62 billion, up 16.7 per cent sequentially. EBITDA grew 29 per cent, while PAT increased 56.2 per cent quarter-on-quarter. He noted that the company has repaid Rs 3 billion of debt from its IPO proceeds, strengthening the balance sheet and supporting long-term sustainable growth. Seshaasai Technologies said it will continue to focus on expanding customer wallet share, enhancing global presence, and building a smarter, more connected supply-chain ecosystem through innovation.

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Infrastructure Urban

02 Jun 2026

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Infrastructure Transport

02 Jun 2026

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..