By BullScreen Editorial Team 
eMudhra Limited reported strong Q4 results 2026, supported by rising global demand for digital identity, cybersecurity, and paperless workflow solutions.
The company posted total income of Rs. 1,966 million in the March quarter, marking a 31.7% year-on-year increase compared to Rs. 1,493 million in Q4 FY25. Net profit for the quarter rose to Rs. 296 million, while adjusted profit after tax stood at Rs. 324 million. Basic earnings per share increased 20.1% YoY to Rs. 3.53.
For the full FY26 period, total income climbed 35.1% YoY to Rs. 7,132 million. Net profit grew 26.2% to Rs. 1,100 million, with adjusted PAT rising 28.8% to Rs. 1,218 million. EBITDA margin remained healthy at 23.2%, highlighting stable operational efficiency despite aggressive expansion.
International markets continued to drive growth, contributing 64% of total revenue and expanding 38.7% YoY. Enterprise Solutions emerged as the company’s strongest segment, accounting for 59% of revenue and recording 55% annual growth, helped by acquisitions and increasing adoption of identity and access management solutions.
The company said recurring revenue contributed 65% of total income, giving better visibility to future earnings. Trust Services revenue also grew 32% YoY, supported by strong demand for digital signatures and SSL certificates.
eMudhra ended FY26 with a net cash position of Rs. 1,268 million and an enterprise order book of Rs. 2,380 million for FY27, reflecting a 24.8% increase. Management also recommended a dividend of Rs. 1.25 per share.
The company continues to benefit from industry trends including zero-trust security architecture, post-quantum cryptography readiness, and growing enterprise adoption of AI-driven digital infrastructure.
| eMudhra Q4 Results 2026 Highlights | Q4 FY26 | YoY Growth |
|---|---|---|
| Total Income | Rs. 1,966 Mn | +31.7% |
| Gross Margin | Rs. 1,037 Mn | Margin at 52.8% |
| EBITDA | Rs. 441 Mn | Margin at 22.4% |
| Adjusted EBITDA | Rs. 478 Mn | Margin at 24.3% |
| Net Profit (PAT) | Rs. 296 Mn | Strong quarterly growth |
| Adjusted PAT | Rs. 324 Mn | Margin at 16.5% |
| Basic EPS | INR 3.53 | +20.1% |
| eMudhra FY2026 Financial Performance | FY26 | YoY Growth |
|---|---|---|
| Total Income | Rs. 7,132 Mn | +35.1% |
| EBITDA | Rs. 1,654 Mn | +32.6% |
| Adjusted EBITDA | Rs. 1,835 Mn | +28.7% |
| Net Profit (PAT) | Rs. 1,100 Mn | +26.2% |
| Adjusted PAT | Rs. 1,218 Mn | +28.8% |
| Basic EPS | INR 13.14 | +26.3% |
| Dividend | Rs. 1.25/share | Recommended |
| Net Cash Position | Rs. 1,268 Mn | Strong balance sheet |
| Business & Growth Snapshot FY26 | Key Details |
|---|---|
| International Revenue Contribution | 64% of total revenue |
| International Growth | +38.7% YoY |
| Recurring Revenue Share | 65% of total income |
| Enterprise Solutions Revenue Share | 59% |
| Enterprise Solutions Growth | +55% YoY |
| Trust Services Growth | +32% YoY |
| Active Corporate Clients | 1,374 |
| FY27 Enterprise Order Book | Rs. 2,380 Mn |
| Order Book Growth | +24.8% YoY |
| Key Growth Drivers | AI security, Zero-Trust, Post-Quantum Cryptography |
Source: https://www.bseindia.com/xml-data/corpfiling/AttachHis/7407be70-8a7c-4858-adc3-1c8956404fb5.pdf