1. Opening Hook
In a market where every second company claims to be “AI-first,” HRH Next also showed up with a shiny new acronym.
This time it’s AINA—because obviously, mirrors reflect emotions and revenue too.
Fresh from its Valueportal investor call, HRH Next reminded everyone it started with 20 people and now runs 2,500 seats across South India. The journey was emotional, multilingual, and generously sprinkled with AI optimism.
Management sounded confident, comparisons with competitors were subtly salty, and the ₹100 crore revenue target for FY27 was repeated enough times to sound real.
Client concentration? Not a bug, apparently a feature.
Margins? “Wait till AI monetises.”
Mainboard listing? Already pencilled into the calendar.
Read on—because the real fun begins once the buzzwords wear off and numbers start talking.
2. At a Glance
- Revenue up 11% YoY – Slow clap. Growth arrived, but forgot to sprint.
- EBITDA stable – No drama, no delight; business-as-usual margins.
- PAT steady (~₹3 Cr+) – Profits showed discipline, not ambition.
- 87% revenue from top 5 clients – Diversification skipped this meeting.
- Negative operating cash flow (FY25) – Profits exist, cash still on vacation.
- AI division launched (AINA) – Because every PPT needs a futuristic slide.
3. Management’s Key Commentary
“We want to be on the main board by 2027 with 10–12% PAT margins.”
(Translation: First list, then let valuations do the heavy lifting 😏)
“Swiggy contributes around 40% of our revenue.”
(Translation: Swiggy is basically our sugar daddy)
“Client stickiness is extremely high.”
(Translation: Switching costs are so painful, clients don’t
