eMudhra543533Quarterly results
Board approved Sept 2026 results; to voluntarily withdraw from Global SSL/TLS Certificate Business
Board approved the unaudited consolidated results for the quarter ended September 30, 2026; the auditor's review conclusion is unmodified.
By ScoutQuest · · 3 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 2,069.89 | 1,728.75 | +19.7% | 1,907.15 | +8.5% |
| Total income | 2,093.05 | 1,749.48 | +19.6% | 1,924.58 | +8.8% |
| Profit before tax | 389.83 | 330.16 | +18.1% | 381.73 | +2.1% |
| Profit after tax | 334.78 | 264.42 | +26.6% | 319.97 | +4.6% |
| Total comprehensive income | 403.33 | 211.57 | +90.6% | 348.83 | +15.6% |
| Basic EPS | 3.99 | 3.09 | +29.1% | 3.91 | +2% |
- Total income YoY growth
- +19.6%
- Period
- Quarter ended September 30,2026 (Unaudited)
Auditor's review
Conclusion: Unmodified
Notes to the results
- On October 17, 2026 weak keys were reported in eight intermediate CA certificates; all eight were revoked on October 18, 2026, with no effect on root keys.
- Board on October 22, 2026 decided to voluntarily withdraw from the Global SSL/TLS Certificate Business; management sees no material financial impact; KPMG appointed as independent external reviewer.
Results approved at the Board meeting
The Board of Directors, at its meeting held on November 04, 2026, approved the unaudited consolidated financial results for the quarter and half year ended September 30, 2026. The results were reviewed by the audit committee and then by the statutory auditor.
Auditor's review conclusion
- The auditor's conclusion is not modified — there is no qualification, and the conclusion stands as issued.
- The auditor did not review the financial information of 10 subsidiaries and a trust. That information reflects total assets of Rs. 1,158.92 million, total revenue of Rs. 390.69 million and Rs. 656.50 million, and total net profit/(loss) of Rs. 14.08 million and (51.05) million for the quarter and half year ended September 30, 2026 respectively.
- One associate's interim financial information was also not reviewed by any other auditor. The Group's share of its profit after tax was Rs. 0.75 million for the quarter and Rs. 0.57 million for the half year.
- In both cases the auditor relied on information certified by the management and stated that this financial information is not material to the Group.
Decision on the Global SSL/TLS Certificate Business
- On October 17, 2026, an independent researcher reported weak keys in eight intermediate CA certificates within one public ECC hierarchy, created during the April 2025 key-generation ceremony.
- All eight intermediates were revoked on October 18, 2026, and this has no effect on root keys.
- In the Board meeting held on October 22, 2026, the company decided to voluntarily withdraw from the Global SSL/TLS Certificate Business.
- Management is of the opinion that there is no material financial impact.
- The company has appointed KPMG as its independent external reviewer to examine the matter.
Consolidated numbers for the quarter and half year (unaudited)
- Total income from operations (Net): Rs. 2,093.05 million for the quarter and Rs. 3,977.04 million for the half year.
- Profit for the period: Rs. 334.78 million for the quarter and Rs. 654.75 million for the half year.
- Basic earnings per share (Face Value Rs. 5/- each): Rs. 3.99 for the quarter and Rs. 7.90 for the half year; diluted Rs. 3.96 and Rs. 7.84.
- Total assets: Rs. 12,678.42 million as at September 30, 2026, against Rs. 12,134.33 million as at March 31, 2026.
- Net cash flow from operating activities: Rs. 430.61 million for the half year.
Segment picture (quarter ended September 30, 2026, consolidated revenue)
- Trust Services: Rs. 336.91 million
- Enterprise Solutions, India: Rs. 390.38 million
- Enterprise Solutions, Outside India: Rs. 1,342.60 million
What a retail investor can take away
- The auditor's review conclusion carries no modification, so the reported numbers are presented as reviewed in the ordinary course.
- The withdrawal from the Global SSL/TLS Certificate Business is a decision taken by the Board after a certificate-related incident; the company's own stated position is that the financial impact is not material. How this plays out in later quarters is something to track in subsequent updates.
- The earnings and asset figures above are the factual base against which any future update on this decision can be compared.
₹654.75 MnProfit for the period, consolidated - half year
Profit for the period, consolidated - quarter₹334.78 Mn
Profit after tax, quarter319.97 (INR million)
Also from eMudhra
eMudhra appointed KPMG as an independent external reviewer to examine the recent TLS certificate incident
30 Oct 2026
Company appoints KPMG for independent review of reported incident
30 Oct 2026
SES ESG revises ESG score to 64.9 from 68.0, citing certificate business announcements
28 Oct 2026
More numbers
- Profit for the period, consolidated - half year654.75
- Total income from operations (Net), consolidated - half year3,977.04
- Total assets, consolidated as at September 30, 202612,678.42
- Total assets of unreviewed subsidiaries and trust1,158.92
- Intermediate CA certificates with weak keyseight
- Total income, latest quarter2,093.05 (INR million)
- Total income, year-ago quarter1,749.48 (INR million)
- Total income, previous quarter1,924.58 (INR million)
- Total comprehensive income, latest quarter403.33 (INR million)
- Total comprehensive income, year-ago quarter211.57 (INR million)
- Total comprehensive income, previous quarter348.83 (INR million)
- Profit after tax, latest quarter334.78 (INR million)
- Profit after tax, year-ago quarter264.42 (INR million)
- Profit after tax, previous quarter319.97 (INR million)
- Revenue from operations, latest quarter2,069.89 (INR million)
- Revenue from operations, year-ago quarter1,728.75 (INR million)
- Revenue from operations, previous quarter1,907.15 (INR million)
- Profit before tax, latest quarter389.83 (INR million)
- Profit before tax, year-ago quarter330.16 (INR million)
- Profit before tax, previous quarter381.73 (INR million)
Source: BSE · 4 Nov 2026
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