Q2 FY27 earnings call: revenue up 22.2% YoY in constant currency, operating EBITDA margin 16.1%
Transcript of the Q2 FY'27 earnings conference call (quarter ended September 30, 2026) shared with the exchanges.
By ScoutQuest · · 2 min read
- Revenue from operations
- rose 22.2% year-on-year in constant currency to US$178 million
- Services revenue growth
- grew 26.2% year-on-year
- Operating EBITDA margin
- 16.1%
What was shared
This is the transcript of the earnings conference call on the financial results for the quarter ended September 30, 2026. The call was held after the Board meeting of October 14, 2026 and the transcript was shared with the exchanges on October 19, 2026. The call was addressed by CEO and Managing Director Warren Harris and CFO Uttam Gujrati.
Second quarter performance
- Revenue from operations rose 22.2% year-on-year in constant currency to US$178 million
- Services revenue grew 26.2% year-on-year
- Operating EBITDA margin was 16.1%, after absorbing the annual salary increments
- Attrition reduced sequentially to 15.6%
- Approximately 300 associates were added during the quarter to support strategic program ramp-ups and key capabilities
Deal wins
- Five large deals were secured during Q2
- These included a US$138 million full vehicle engineering program with a leading European luxury automotive OEM
- Management said several large engineering engagements and full vehicle programs won over recent quarters are now ramping
What management guided
- It expects a more meaningful contribution from these ramping programs during the second half of the year
- FY27 was described as an important inflection point, supported by a strong order book and sustained large-deal momentum
- On the BMW joint venture, management said BMW has publicly announced plans to reduce headcount in Germany while continuing to invest in and scale the joint venture in India
Industry view
- Management said Chinese OEMs have set new benchmarks for product innovation, development, speed and cost-competitiveness, and that Western OEMs are becoming leaner and rethinking how products are engineered and brought to market
- It expects OEMs to outsource more engineering and product development work, favouring partners that can own full product and full vehicle outcomes
Point to note
- The call included forward-looking statements, which management said should be read together with the risks and uncertainties outlined in the quarterly factsheet
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More numbers
- Revenue from operations growth year-on-year (constant currency)22.2%
- Revenue from operationsUS$178 million
- Services revenue growth year-on-year26.2%
- Operating EBITDA margin16.1%
- Attrition rate15.6%
- Associates added during the quarterapproximately 300 associates
- Large deals secured in Q2five large deals
- Full vehicle engineering program valueUS$138 million
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