Saksoft Ltd

Rating Action Details

• Long-term bank facilities ₹40 crore upgraded to CARE A+ from CARE A; Stable outlook.
• Short-term bank facilities ₹3 crore; CARE A1 reaffirmed.
• Rating agency: CARE Ratings Limited.
• Outlook: Stable.
• Material change: Long-term upgrade; short-term reaffirmation.

Saksoft Limited — Trading Window Closure from Oct 01, 2026 until expiry of 48 hours after the declaration of unaudited Consolidated and Standalone Financial Results for the second quarter and half year ending Sept 30, 2026.

Appointment of Gurmeet Chahal as CEO of Saksoft Inc. and SMP

• Board approves appointment of Mr. Gurmeet Chahal as CEO of Saksoft Inc. (US), effective Oct 12, 2026.
• Chahal designated as Senior Management Personnel of Saksoft Limited from joining date.
• Date of SMP appointment: October 12, 2026.
• Profile: 30 years in IT services and BPM; ex Founding CEO of Digitide; ex Genpact leader.
• Not related to any Saksoft director.

Deal overview

• Target: Augmento Labs Private Limited, a wholly owned subsidiary of Saksoft Limited, India-based.
• Size/scale: Turnover and assets not disclosed.
• Related party: Transferor is a wholly owned subsidiary of the Transferee (Saksoft group).
• Industry/sector: Not disclosed.
• Purpose: Consolidation within Saksoft group; simplify holding structure; economies of scale and efficiency.
• Regulatory approvals: NCLT Chennai sanctioned the Scheme; effective on ROC filing of certified order.
• Timeline: Appointed Date 01.04.2026; order pronounced 16.09.2026; effective upon filing with ROC.
• Consideration: Upfront Rs 35 crore cash; deferred earnouts Rs 32.5 crore each; total Rs 97.5 crore.
• Shareholding: 100% of Transferor equity acquired; control vested in Transferee.
• Background: Augmento Labs Private Limited, CIN U72900TN2019PTC183534; incorporated 2019; India-based.

Sanction & structure

• NCLT Chennai sanctioned the Scheme on 16.09.2026; order received 22.09.2026.
• Appointed Date fixed at 01.04.2026; effective upon filing certified copy with ROC.
• Transferor Augmento Labs Pvt Ltd merges into Saksoft Ltd; Transferor is wholly owned subsidiary.
• Companion press: Appointed Date 01.04.2026; not to be altered without tribunal approval.
• Accounting treatment per Ind AS 103 Appendix C; pooling of interests under ITFG clarifications.
• Upfront payment Rs 35 crore; total consideration Rs 97.50 crore; deferred earnouts payable on schedule.
• RBL Bank facility Rs 14 crore existed but not utilized; no secured liability.
• ROCs show transferor and Saksoft filed 31.03.2025 statements; 31.03.2026 data discussed with OL.
• Appointed Date details: Clause 1.3 allows 01.04.2026; Tribunal accepted as prospective date.
• Share cancellation: upon scheme effectiveness, transferor shares held by transferee cancel; no cash issued.
• Employees protection: undertaking not to retrench employees in service as on Appointed Date.
• Stock exchanges: disclosure done; exemption under Reg 37; no separate NOC needed.

Meeting Details

• Date and time: Tuesday, September 8, 2026 at 2:00 PM IST.
• Type/Mode: Virtual group investor meet.
• Organizer: Valorem Advisors.

Participants

• Company representatives (management roles not specified).

Purpose

• Reiterate Q1FY27 earnings info discussed on Aug 10, 2026.

Additional Notes

• Group Virtual Investor Meet hosted by Valorem Advisors.
• Presentation material available; earnings presentation PDF referenced, no URL included.
• No UPSI is intended to be discussed.

Meeting Details

• Date and time: Sep 8, 2026, 2:00 PM IST
• Type and mode: Group virtual investor meet
• Organizer: Valorem Advisors

Participants

• Company participant: VP–Company Secretary and Compliance Officer

Purpose

• Reiterate Q1 FY27 earnings information for quarter ended Jun 30, 2026

Additional Notes

• Q1 FY27 earnings presentation available

Financial Performance

• Revenue from operations for Q1 FY27: INR 249 crores; flat YoY.
• EBITDA: INR 45 crores; margin 18.26%; YoY decline 1%.
• PAT: INR 29 crores; PAT margin 11.78%.
• Geography: Americas 52%, Europe 27%, APAC 21%.
• Delivery mix: onsite 43%, offshore 57%.
• 16 customers with 1M+ contribution.
• Pipeline: USD 28 million in Q1 (vs USD 25m prior quarter).

Market and Pipeline

• Pipeline looks good; next quarter muted; second half shows growth.
• Shift toward managed services and outcome-based deals; larger deals, longer cycles.
• Growth by verticals: Emerging verticals, BFSI, logistics; digital commerce weakest.
• Top concentration softened: top 10 58%→56%; top 5 58%→52%.
• Tail accounts being let go if no potential to scale.

Q&A Highlights

• FY27 revenue guidance reaffirmed: ₹1,200–₹1,250 crore; restatement possible after Q2.
• US revenue share about 52%; target 65% in 2–3 years.
• All projects have AI; no pilots; AI boosts deal size; pipelines stronger.
• Employee costs to revenue share expected to decline; headcount flattening; AI-driven productivity.
• Top verticals driving growth: Emerging verticals, BFSI, logistics; digital commerce weak.

Guidance and Outlook

• FY27 revenue guidance ₹1,200–₹1,250 crore; last year 1,007; ~25% growth.
• Pipeline strength supports potential H2 growth; restatement after Q2 if needed.
• US revenue share target 65% in 2–3 years.
• Growth by verticals: Emerging verticals, BFSI, logistics; digital commerce remains weak.