While Silicon Valley brags about AI unicorns, Indore quietly built one with a CMMI Level 5 badge and zero drama. InfoBeans just turned code into culture — and profits into poetry. The founders didn’t just write software; they wrote a growth story from ₹4 crore to ₹400 crore in a decade.
As the Bhagavad Gita says, “Yogaḥ karmasu kauśalam” — excellence in action is true yoga. And these three founders are clearly in Tadasana pose while the rest of IT India adjusts its chakras.
Read on — the call gets delightfully human and algorithmically bold later.
2. At a Glance
Revenue up 27% YoY: Growth engine humming like ChatGPT after a caffeine shot.
EBITDA up 57%: Margins meditating at 28%, serenity achieved.
PAT up 77%: Profits clearly love Indore weather.
Cash & Cash Equivalents: ₹292 crore: Rainy day fund now a full monsoon.
Europe share up to 31%: Apparently, GDPR can’t stop growth either.
Headcount +98: HR finally gets to brag at family dinners.
3. Management’s Key Commentary
“We’ve transformed from a ₹4 crore company to ₹400 crore in eight years.” (Translation: Indore just outpaced Infosys—well, kinda. 😏)
“Our AI-first pivot is real — we’re building GenAI accelerators like Expona.” (Translation: We just told clients, ‘Press Ctrl + Future.’)
“EBITDA margin at 24%+ is sustainable.” (Translation: If it drops, we’ll call it an ‘AI investment.’)
“Added six new clients this quarter, three large ones.” (Translation: Client count stable, wallet share obese.)
“We are investing in sustainability, got Ecovadis certified.” (Translation: Even our code emits less carbon now. 🌱)
“Building our own Indore IT campus — four lakh sq. ft.” (Translation: We’re done renting dreams; now we own the skyline.)
“Appraisal impact is ~11-12%, but utilization at 81% keeps us safe.” (Translation: We pay hikes, but not with our sanity.)
4. Numbers Decoded
Metric
Q2 FY26
YoY Change
One-Line Analysis
Revenue (₹ crore)
125
+27%
Growth steady, fueled by repeat clients.
EBITDA (₹ crore)
36
+57%
Margins back in gym shape.
PAT (₹ crore)
23
+77%
AI profits printing nicely.
Cash & Investments (₹ cr)
292
+12% QoQ
Money sleeping peacefully.
Utilization Rate
81%
+2 pts
Engineers finally busy again.
Europe Revenue Share
31%
+3 pts
Germans love Indore code.
Employee Additions (Net)
+98
N.A.
Freshers back after hiring winter.
Analysis: If small-cap IT were a cricket match, InfoBeans is batting with 81% strike rate and 24% run rate — clean and classy.
5. Analyst Questions
Ankit (Kotak): “How’s H2 shaping?” Mgmt: “Momentum’s strong. No slowdown.” (Translation: Others fear macros; we fear only bad coffee.)
Sumukh: “Growth from clients or pricing?” Mgmt: “Both. Old clients
