1. Webimax acquisition - \~₹87 cr revenue and \~₹17 cr PAT addition, USD 2M-3.5M synergies over 18-30 months Pending - At the acquisition announcement in November 2025, management stated the 80% stake in Webimax may add approximately US$9.5 million (\~₹87 cr) in revenues and \~₹17 cr of annualized PAT, with USD 2M-3.5M in synergies expected over 18-30 months. FY26 revenue of \~₹292 cr and PAT of ₹26.12 cr show no step-change consistent with the \~₹87 cr revenue and \~₹17 cr PAT addition, and our record holds no disclosure of deal closure or financial consolidation as of 14 July 2026.
2. Segment bifurcation between CloudTech and MadTech - "very soon" Partial - At the Q4 FY24 call, management stated they were working to provide bifurcation between CloudTech and MadTech segments and "very soon you will see certain information on that side". Qualitative revenue splits were disclosed from Q1 FY25 onward - CloudTech at 20-30% of total revenue, later stated as approximately 20% CloudTech and 80% MadTech - but formal segmental financial statements with revenue and PBIT per segment are absent from our record through FY26.
3. ₹100 cr PAT in the next 3 financial years (by FY28) Pending - At the Q3 FY25 call in December 2024, management guided reaching around ₹100 crores in profit after tax in the next 3 financial years through organic and inorganic growth. FY25 PAT was ₹25.66 cr and FY26 PAT was ₹26.12 cr, leaving the company on a trajectory that would need significant acceleration to reach ₹100 cr by FY28, with no read yet on FY27-FY28.
4. EBITDA margin of 15-20% over a longer period once investments are done On track - At the Q4 FY24 call, management guided EBITDA margin could be "between 15% to 20%... which we should be achieving" over a longer period once investments are complete. FY25 EBITDA margin was 14.28% and FY26 EBITDA margin was 16.71%, placing the FY26 figure within the 15-20% band, though no explicit declaration that the investment phase is complete has been recorded.
5. At least 25-30% revenue CAGR for at least next 5 years On track - At the Q4 FY24 call, management guided "at least around 25% to 30% CAGR" year-on-year revenue growth for "at least next 5 years", later reinforced with an internal guideline to maintain at least 30% CAGR and confidence in achieving 30% for the current year. FY24 revenue grew 87.61%, FY25 grew 64.26%, and FY26 grew 14.37% - falling below the 25-30% band - but the 5-year horizon runs through FY29 with no read yet on FY27-FY29.