XTGLOBAL
Xtglobal Infotech financials
- Market cap
- ₹382 Cr
- Sector
- Information Technology
- Calls analysed
- 4
Xtglobal Infotech Limited Q1 FY27
What went well
- Consolidated revenue increased to ₹93.30 crore, a 1.1% year-on-year growth.
- Consolidated EBITDA grew 7.8% year-on-year to ₹7.06 crore, with margin improving to 7.6%.
- Standalone profit after tax increased 19.8% year-on-year to ₹1.82 crore, with a margin of 9.5%.
What to watch
- Global technology services environment remained measured with cautious demand and longer decision-making cycles for discretionary spending.
- Consolidated revenue growth was modest at 1.1% year-on-year, attributed to a strategic shift from onsite to offshore delivery.
What Xtglobal Infotech Limited does
XTGlobal Infotech is a CMMI-Dev Level 3 (v2.0) appraised and ISO 27001 certified IT services and business process outsourcing company providing application development, cloud & infrastructure, ERP, RPA, low-code development and QA/testing, alongside a dedicated Oracle practice (Oracle Cloud Financials/HCM/SCM, E-Business Suite, Analytics, Integrations) and Microsoft services (application modernization, DevOps, cloud advisory & migration). It also runs a finance-and-accounting outsourcing practice covering AP, AR, HR, payroll and finance, and sells Circulus, its in-house cloud-based accounts-payable automation product spanning document process automation, data extraction and image review. Delivery is offshore/onshore through SOW time-and-materials, fixed-bid, managed services, ODTP (on-demand talent partnership) and BOT (build-operate-transfer) models, serving clients across banking & financials, healthcare, public sector, toll/ticketing, telecom, real estate, insurance, retail and manufacturing via its India operations and wholly owned US subsidiaries XTGlobal Inc. and Network Objects Inc.
Segments
- IT Services & Digital Transformation
- Oracle Practice
- Circulus Enterprise
- Microsoft Services
- Finance & Accounting Outsourcing
- Professionals globally
- 700+
- Clients served worldwide
- 500+
- Total projects delivered
- 850+
- Timely AP enterprise project deliveries (Circulus)
- 40+
- Overseas subsidiaries
- XTGlobal Inc. and Network Objects Inc. (USA)
- Offshore delivery model
- 24/7 global support via offshore delivery centers
Guidance record · Q1 FY27
what the last two calls moved 12 tracked 1 delivered 4 missed 7 open- EBITDA Margin delivered said Q4 FY25 Promised: margins expected to normalize in the upcoming quarters. Q1 FY27: No new update; promise previously achieved and margin trend remains positive at 7.6%.
- Net Profit Addition went quiet said Q4 FY25 Promised: ₹5-6 crore of bottom line addition if that materializes (leasing Visakhapatnam property). Q1 FY27: No update provided on property leasing. Promise continues to be ghosted.
- Revenue Growth Rate at risk said Q2 FY26 Promised: stabilized at least 20% to 25% growth rate is what our expectation is... for FY26-27 Q1 FY27: Q1 FY27 consolidated revenue growth was 1.1% YoY, significantly below the 20-25% target range. Management attributes this to a strategic shift to lower-priced offshore revenue.
All 12 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 1.1%, net profit up 4.0% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 49 | 49 | 87 | 92 | 94 +94% | 92 +89% | 90 +3% | 93 +1% |
| EBITDA | 5 | 8 | 4 | 7 | 7 +27% | 9 +11% | 4 −1% | 7 +8% |
| Net profit | 3 | 4 | 1 | 4 | 3 +27% | 4 +1% | 4 +177% | 4 +4% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −25.7% 1Y
1Y: ₹39.77 on 10 Sept 2025 → ₹29.53. High ₹44.61 (22 Sept 2025), low ₹25.99 (27 Jan 2026).
How the price took the results
close before → close after
- Q1 FY27
- −3.4%
- 17 Aug
- Q2 FY26
- −0.5%
- 18 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 15.1% a year over 3 years, FY23 to FY26. Operating margin narrowed to 7.2%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹242 Cr | ₹217 Cr | ₹234 Cr | ₹369 Cr |
| Operating profit | ₹24 Cr | ₹24 Cr | ₹22 Cr | ₹26 Cr |
| Operating margin | 10.1% | 10.8% | 9.6% | 7.2% |
| Interest | ₹4 Cr | ₹3 Cr | ₹3 Cr | ₹3 Cr |
| Depreciation | ₹8 Cr | ₹9 Cr | ₹8 Cr | ₹6 Cr |
| Net profit | ₹16 Cr | ₹12 Cr | ₹10 Cr | ₹15 Cr |
| Net margin | 6.5% | 5.4% | 4.2% | 4.0% |
| Cash from operations | ₹8 Cr | ₹2 Cr | ₹17 Cr | ₹6 Cr |
| Free cash flow | ₹-4 Cr | ₹-1 Cr | ₹16 Cr | ₹-1 Cr |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹12 Cr | ₹13 Cr | ₹13 Cr | ₹13 Cr | ₹13 Cr | ₹13 Cr |
| Reserves | ₹65 Cr | ₹117 Cr | ₹143 Cr | ₹155 Cr | ₹179 Cr | ₹190 Cr |
| Borrowings | ₹50 Cr | ₹51 Cr | ₹35 Cr | ₹43 Cr | ₹51 Cr | ₹50 Cr |
| Other liabilities | ₹47 Cr | ₹66 Cr | ₹46 Cr | ₹25 Cr | ₹42 Cr | ₹34 Cr |
| Total liabilities | ₹173 Cr | ₹248 Cr | ₹237 Cr | ₹237 Cr | ₹285 Cr | ₹288 Cr |
| Fixed assets | ₹44 Cr | ₹110 Cr | ₹106 Cr | ₹106 Cr | ₹138 Cr | ₹136 Cr |
| Capital work in progress | ₹59 Cr | ₹10 Cr | ₹18 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹34 Cr | ₹36 Cr | ₹37 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹70 Cr | ₹94 Cr | ₹77 Cr | ₹93 Cr | ₹147 Cr | ₹152 Cr |
| Total assets | ₹173 Cr | ₹248 Cr | ₹237 Cr | ₹237 Cr | ₹285 Cr | ₹288 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters trimmed −0.27 pp while the public added +0.26 pp. The shareholder count grew 6% to 16,959.
- Promoters
- 62.5%
- Public
- 37.5%
Since Jun 2025
- Promoters −0.27 pp
- Public +0.26 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 62.8%, Public 37.1%.Dec '23: Promoters 62.8%, Public 37.2%.Mar '24: Promoters 62.9%, Public 37.0%.Jun '24: Promoters 63.1%, Public 36.9%.Sep '24: Promoters 63.1%, Public 36.9%.Dec '24: Promoters 63.1%, Public 36.9%.Mar '25: Promoters 62.8%, Public 37.2%.Jun '25: Promoters 62.8%, Public 37.2%.Sep '25: Promoters 62.8%, Public 37.2%.Dec '25: Promoters 62.8%, Public 37.2%.Mar '26: Promoters 62.5%, Public 37.4%.Jun '26: Promoters 62.5%, Public 37.5%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Late Subba Rao Vuppuluri newly disclosed 0.15% held
- Venkata Ramarao Bommaraju +0.05 pp 1.11% held
The same filing shows 0 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Xtglobal Infotech Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Ramarao Atchuta Mullapudi | 58.71% | unchanged |
| Srinivasa Raju Kosuri | 8.95% | unchanged |
| Lakshmi Narasimham Batlanki | 3.60% | unchanged |
| Gangadhar Sharyala | 3.33% | unchanged |
| Mullapudi Harika Vardhani | 3.28% | unchanged |
| Sai Kumar Pallikonda Mohan | 1.63% | unchanged |
| Mustikovila Hari Hara Nath | 1.49% | unchanged |
| Ravi Gampala | 1.49% | unchanged |
| V Ravindranath Tagore | 1.49% | unchanged |
| Sujata Pamerla | 1.49% | unchanged |
| Venkata Ramarao Bommaraju | 1.11% | +0.05 pp |
| Sriramarudraprasad Vuppuluri | 0.25% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
What the price assumes
ExpensiveTo justify its price of ₹30, this stock must grow earnings at 18% every year for 7 years. Our analysis caps realistic growth at ~8%. At that growth it is worth ₹18 — downside of 40%.
- Growth the price implies
- 17.6% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 8.0% a year
- net profit, FY23–FY26
- The gap
- 0.1 pp
- -40% downside if it only repeats history
All earnings calls (4)
Read the Q1 FY27 call →Learn to analyse Xtglobal Infotech Limited
Guides on how to read this kind of business and the numbers that matter.