Excelsoft Technologies Limited Q2 & H1 FY26 Concall Decoded: AI everywhere, margins wobble a bit, cash pile looks bored
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1. Opening Hook
So Excelsoft finally rang the stock-market bell, and no, they didn’t just say “IPO done, thank you, bye.” Instead, they showed up with AI buzzwords, global partners, GPU farms, and a ₹245 crore cash pile chilling in fixed deposits.
The maiden concall felt less like a quarterly update and more like a TED Talk on assessments, proctoring, LLMs, and why even one exam failure is unacceptable (tell that to Indian students). Revenue grew, margins argued with expenses, and management calmly explained why H2 always steals the show.
Between AQA partnerships, AI-Levate micro-apps, and acquisition plans that sound exciting but unnamed, Excelsoft is clearly thinking long-term.
Read on — because beneath the calm Mysuru tone, there’s serious ambition brewing.
2. At a Glance
Revenue up 20% (Q2 YoY) – Not explosive, but steady enough to keep CFO smiling.
EBITDA margin at 27.1% – Improved YoY, despite lawyers and consultants feasting.
H1 revenue up 10.9% – Growth slowed, but assessment segment sprinted ahead.
PAT up 254% (reported) – Last year’s deferred tax played villain.
Cash & bank balance ~₹245 Cr – Money working harder at SBI FD than M&A desk.
3. Management’s Key Commentary
“This is our maiden earnings call as a listed company.” (Welcome to quarterly grilling season 😏)
“We operate in zero-failure, high-stakes assessments.” (Even one server crash = global panic.)
“Our products are natively built on AI.” (AI was not sprinkled later — promise.)
