Delaplex Limited H1 FY26 Concall Decoded:5% revenue growth, 13% profit growth, and management now pitching “data center in a box” as the next big thing
Another SME IT company, another earnings call, another PowerPoint promising AI, cloud, edge, and world domination. Except this time, Delaplex Limited came armed with margin expansion, cost cuts without firing people (allegedly), and a micro data center strategy that sounds like IKEA meets hyperscale dreams.
While global clients are “value conscious” (management code for tight wallets), Delaplex insists it’s thriving at the intersection of IT services, AI consulting, and edge computing. The company claims execution discipline, smarter deal mix, and just enough buzzwords to keep investors awake past slide 14.
Margins are up, acquisitions are behaving (for now), and BSNL is suddenly everyone’s best friend. Sounds tidy. But as always, the real masala lies beyond the headline numbers.
Read on—because the micro data center math, ESOP dilution, and POC-to-deployment optimism deserve a closer look.
2. At a Glance
Revenue up 5%: Growth jogged, didn’t sprint—management blames “value-driven clients.”
EBITDA up 13%: Profits ran faster than sales, thanks to belt-tightening yoga.
EBITDA margin +172 bps: Cost discipline finally found religion.
PAT up 13%: Shareholders got more than just hope this time.
Solutioning at 16%: A brand-new revenue stream enters the party confidently.
Employee cost -9%: No layoffs, just magical cross-skilling apparently.
3. Management’s Key Commentary
“H1 FY26 was a period focused on execution and operational performance.” (Translation: We stopped chasing shiny objects and watched costs for once.) 😏
“EBITDA margin expanded to 23.5%.” (Translation: Finance team finally got the mic.)
“Blueberry contributed INR 9.21 crores revenue and INR 2.35 crores PAT.” (Translation: The UK acquisition didn’t explode—always a win.)
“Our solutioning business contributed 16% of revenue.” (Translation: This didn’t exist last year, so please clap.) 👏
“Employee cost reduced by 9% through upskilling, not layoffs.” (Translation: Same people, more work, better tools.)
“Micro data centers are moving from pilot to paid POCs.” (Translation: Still not full revenue, but at least someone is paying.)
“H2 typically contributes 55–60% of annual revenue.” (Translation: Please don’t judge us till March.) 😬
