Rays of Belief reported strong Q1 results post-listing, with revenue more than doubling and a turnaround to net profit, driven by a US acquisition and India business growth

Wed 30 Sep 2026

Revenue growth

2.2 times

Revenue this quarter

25 crore rupees

Previous revenue

11 crore rupees

EBITDA this quarter

5 crore rupees

Previous EBITDA

0.5 crore rupees

Heard on Live TV News Channel between 10:06:26 - 10:07:41 IST.

• Rays of Belief is a for-profit social enterprise serving children with autism, ADHD, Down syndrome and related developmental challenges, requiring 75+ percent business from marginal populations
• Revenue rose 2.2 times from 11 crore to 25 crore rupees; EBITDA rose from 0.5 crore to 5 crore rupees, a 10x jump; margins improved from 4% to 19.7%; net profit turned from a loss of 1 crore to a profit of 3 crore rupees
• MD Nitin Bindal said growth was not one-off, attributing it to a US entity acquisition (City Pro group, acquired last year) contributing 49% of revenue, plus efficiency gains during a weak April-June IPO market
• India business revenue grew almost 37%; company plans to focus on opening more centers post-IPO
• US business now contributes about 51% of revenue and this share is expected to rise further due to platform depth, clinical team strength and City Pro group's 30 years of experience; a new City Pro group acquired 18th September will reflect in next quarter's results

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