Q2 2026 MPS Ltd Earnings Call Transcript
Key Points
- MPS Ltd (BOM:532440) reported a strong revenue growth of 9.42% year-on-year, driven by healthy growth across research and education verticals.
- EBITDA improved by 13.03% year-on-year, reflecting continued operating leverage and cost discipline.
- The company maintained a debt-free balance sheet with total cash and cash equivalents of INR117 crores as of September 30, 2025.
- The education business saw a remarkable revenue growth of 52.4% and an increase in EBITDA margin from 28.8% to 35.6% year-over-year.
- MPS Ltd (BOM:532440) is advancing its technology focus areas, including transitioning to AI-powered workflows, which is expected to drive sustained profitability and operational excellence.
- The corporate learning business segment experienced a decline, with its share of total revenue decreasing from 17.2% in Q2 FY'25 to 11.3% in Q2 FY'26.
- Despite improvements, the company faced some revenue softness related to AJE, although margins in this area expanded.
- The company is not providing specific guidance for future quarters, which may leave investors uncertain about short-term expectations.
- There are concerns about the management bandwidth to handle the potential growth from closing multiple deals in a short period.
- Integration challenges from past acquisitions, such as AJE, have been noted, with longer-than-expected gestation periods for integration.
Ladies and gentlemen, good day and welcome to the Q2 and H1 FY'26 earnings call of MPS Limited.
(Operator Instruction).
I now hand the conference over to Mr. Rahul Arora , Chairman and CEO.
Good evening from Singapore and a warm welcome to our midyear review and earnings call.
Today on the call I have with me Prarthana Agarwal, CFO of MPS Limited, Sreenivas Trichy Venkatraman, Chief Operating Officer of MPS Limited, David Goodman, Chief Growth Officer at MPS Limited, Archana Jayaraj Chief Operating Officer, MPS Interactive, and MPS Europa.
Prarthana joins us from our corporate office in Noida. Sreeni from Bangaluru. David from Austin, Texas, and Archana from Bangalore as well.
Prarthana will kick off things in our opening segment today by discussing our robust financial performance. Then Sreeni will update us on our research solutions business segment. Sreeni will then hand over to Dave to help you understand the drivers of the remarkable growth in
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