MPS Ltd (MPSLTD) Q2FY27 Concall Summary - Sep-2026 Qtr
Key Takeaways
- Management has raised full-year EBITDA guidance to a floor of at least INR 310 crores, up from INR 300 crores, signaling strong second-half performance.
- The next acquisition is expected to close this financial year, with management actively pursuing targets that fit the Unbound Medicine template of recurring revenue and AI tailwinds.
- Organic revenue growth in the core Research business accelerated to 22% this quarter, driven by demand for integrity services and new mandates.
Performance Overview
- Reported the most profitable first half-year in the company's history, with earnings growing faster than revenue for six consecutive quarters.
- Successfully transitioned into an AI-first knowledge company, focusing on owned platforms and IP, leading to outcome-based pricing models.
- Strengthened the balance sheet by repaying all borrowings for the Unbound Medicine acquisition, resulting in zero debt and a cash position of INR 163 crores.
- Improved operational efficiency, reflected by a reduction in Days Sales Outstanding (DSO) from 45 to 38 days.
- Expanded the client base significantly, billing 839 clients in the quarter compared to 422 in the prior year, reducing top-five client concentration.
Financial Metrics
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Operating Performance / Business Segments
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Key Discussions & Insights
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Outlook and Guidance
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Challenges / Concerns
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Industry / Competitive Landscape
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Overall Summary
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Tone & Disclosure
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