One Point One Solutions Ltd Q2FY26: The AI-Powered BPO That Thinks It’s a Tech Unicorn (And Sometimes Believes It)

1. At a Glance

If you ever wondered what happens when your “Customer Service Call” starts replying in ChatGPT voice — congratulations, you’ve metOne Point One Solutions Ltd (OPOSL). The ₹1,361 crore midcap BPM player has quietly reinvented itself from a voice-based call center into a full-stack automation-infused, agentic-AI enterprise. Current market price? ₹51.8 — which looks affordable till you notice that it trades at aP/E of 37.3, anEV/EBITDA of 17.1, and aPrice-to-Sales of nearly 5x.

In Q2FY26 (September 2025), the company clocked revenue of ₹70.9 crore and PAT of ₹9.85 crore — a healthyYoY growth of 13.4%andprofit jump of 17.5%. But the street’s real gossip is around its M&A binge: new acquisitions across Costa Rica, Singapore, and the UK, a full-fledged Agentic AI platform, and a growing global client list featuring Dream11, Samsung, Razorpay, Axis Bank, and even Akasa Air.

With promoter holding trimmed to52.3%(from 70% two years ago) and20.3% of that pledged, investors are wondering — is this a calculated scale-up or a “growth on steroids” experiment? Either way, this BPO just doesn’t sound boring anymore.

2. Introduction

Remember the good old days when Indian call centers asked you, “Sir, may I put you on hold?” Well, One Point One Solutions has apparently puthumanityon hold — replacing manual voice support with something that sounds suspiciously like a code-obsessed robot.

Founded with modest ambitions, OPOSL today claims to be at the intersection of BPM, KPO, and AI-driven tech solutions. With 8 delivery centers across India and offshore presence inCosta Rica, Colombia, and Panama, the company employs over 5,500 professionals. It’s no longer just handling customer care — it’s running analytics, robotic process automation (RPA), IT services, and “Agentic AI,” which sounds like Iron Man’s Friday went corporate.

But beneath all that jazzy tech talk lies a pragmatic business engine. The company earns95% of revenue from servicesand a steady 5% from other income (which, by the way, has grown sharply — ₹21.5 crore this year). Its business is spread across E-commerce (29%), BFSI (19%), FinTech (12%), Healthcare (10%), and Consumer Durables (10%).

And if that wasn’t enough, FY25 saw them embark on a global shopping spree: deep-tech and AI startups in the UK and Singapore, a LATAM BPO in Costa Rica, and a US healthcare company worth $45 million. One Point One isn’t scaling — it’s sprinting. The only question is: can it keep running without tripping over its own cables?

3. Business Model – WTF Do They Even Do?

So what exactly does this “Solutions” company solve? In short: everyone’s outsourcing problems — from e-commerce returns to BFSI loan queries. In long: a cocktail ofBusiness Process Outsourcing (BPO),Knowledge Process Outsourcing (KPO), andIT Services, all sprinkled with a generous dose of buzzwords like “Gen AI Integration” and “No-Code Automation.”

Here’s their playbook:

• BPO:Classic inbound/outbound calls, chat and email support, sales, collections, and customer onboarding — the bread and butter.
• KPO:Higher-margin work like medical record summaries, recruitment support, billing summaries — think BPO but with an MBA.
• IT & Transformation:This is where the magic (or jargon) happens — RPA, Intelligent Automation, CRM systems, and data analytics dashboards that make Excel cry.
• Agentic AI Platform:A self-learning, low-code platform that automates omnichannel workflows. Basically, it wants to replace “agents” with “agents that don’t ask for lunch breaks.”

The client base stretches acrossIndia (40%),America (30%),APAC (20%), andEurope (10%). This isn’t the old “outsourcing for foreigners” story — they’re now exporting automation to the very geographies that once outsourced to us.

4. Financials Overview

Annualised EPS = ₹1.48 → P/E = ~35x.

Commentary:For a ₹273 crore revenue company to pull off ₹36 crore PAT and 22% OPM — that’s solid efficiency. But the other income spike adds some “non-operational masala.” The margin drop from 30% in FY24 to 22% in FY25 hints that expansion costs and acquisitions are eating into profits faster than ChatGPT eats GPUs.

5. Valuation Discussion – Fair Value Range

Let’s triangulate the fair value range (for education, not stock tips — calm down