InfoBeans Technologies Ltd (NSE: INFOBEAN) Q1 2026 Earnings Call dated Jul. 23, 2025
Corporate Participants:
Avinash Sethi — Chief Financial Officer
Surbhi Jain — Company Secretary and Compliance Officer
Siddharth Sethi — Chief Executive Officer
Analysts:
Ankit Kumar — Analyst
Unidentified Participant
Yogesh — Analyst
Mohit Rathore — Analyst
Presentation:
Operator
Good afternoon, ladies and gentlemen. Welcome, everyone, and thanks for joining this Q1 FY ’26 earnings call for Technologies Limited. The results are available on the stock exchange. In case anyone do not have a copy of the same, please do write to us and we’ll be happy to send over it to you. To take us through the results of this quarter, we have with us Co-Founder, Mr Avinash Sheti and Mr we will be starting the call with a brief overview of the company’s performance and then we will allow the Q&A session. Finally ask your question by raising your hand after the brief overview by Avinash is over and then we will address all the questions one-by-one. I would like to remind you all that everything said on this call reflects any outlook for the future. It can be considered as a forward-looking statement and must be used in conjunction with the uncertainty and risks that we face. These uncertainties and risks are included, but not limited to what we have mentioned in the prospectus filed with the SEVI and the subsequent annual reports. The said note, I turn-over the call to Mr. Over to.
Avinash Sethi — Chief Financial Officer
Thank you,, and thank you everyone for joining this call. Let’s begin. Go to the next slide, please. So we have been transitioning ourselves from digital transformation company to an AI-led data engineering company. We also added a good number of people in this quarter. So we are now 1,450 plus team and we are present in so many geographies. Just a word of note, we have closed or what of the office because it was not yielding the right results. We are now in four offices in India in our HLA in Bangalore and in Europe in in Middle-East and Dubai and US and Silicon, New York.
A quick roadmap for those who have not seen this earlier, we have grown from — we are a 25-year-old company now. We have grown now significantly in last 10, 12 years. We got listed in 2017, acquired a company in 2019 in the US, acquired another company in 2021 in Pune and reached a INR400 crore revenue last year. And we have Panesh as an of the Board and we have also open Opal Perry as Independent Director who is CTO of EasyJet in London and Harmin has joined us as CRO early this year. So we are investing in growth, we are investing in strategic leadership guidance and we are building the business step-by-step. Next page. A quick snapshot of what we have been able to achieve over the years.
So we are a company that has very strong relationship with our clients. There’s lot of repeat business that we generate. We have been successfully acquired two companies, a lot of members, more than 10% of our population is with us more than five years, that’s novelty in the IT industry. We did two buybacks to award our shareholders in 2021, 2025. Also, we have a very large base of enterprise clients, that is another USP for includes where we continue to deal with Fortune 500 companies and very large enterprises that allows us to generate repeat business with them year-over-year and expand into those accounts year-over-year. That also helps in strong business relationships and lesser sales cost for us. We are a company and we have a very good CAGR and revenue since 2021 at.
We also thrive on partnerships and we are partners with very large enterprises like Microsoft, Salesforce, ServiceNow, and Microsoft as well. Continue to receive a lot of awards over the years. One award which we are particularly proud of is we are named as best companies for Women in India for last three years next some transformation here, we are now focusing on three main technology areas, AI-led engineering, Salesforce and ServiceNow and we are also focused on two business verticals, PFSI and storage and virtualizations. So these are the five areas that we are strongly building our capabilities and strength over the — over the last, I would say, few quarters. And we are also seeing results in terms of how we are able to penetrate these fast-growing spaces.
Next, please. Quick snapshot on the team here, the founders on the top and independent directors at the bottom, we have Opal Mayuri and Sumit sir as our independent directors. Very strong leadership here, Ram, Manish and they’ve been with us for so many years and they are contributing to the growth in many areas. On the delivery side, we have Amit, Denis,, and. So the clients here, unfortunately we can’t name most of them, but just to give you a glimpse that these are like Fortune 500 companies and some of the names that we can put on the top, they are very, very long-term relationships for us.
So we are very proud of growing with them over the years and also being able to align their new wage technology requirements with our delivery abilities . A quick snapshot on the financial update. This is a summary we’ll go into detail in the next line, but a quick snapshot here, INR124 crores in revenue and a word of caution here, we have INR6 crores of employee retention credit from the US government and that was given during COVID times and we applied for it in 2022, but received in last quarter. So there is a revenue shooter from the extraordinary income. But despite that, if I remove that also, we have a decent growth in terms of Y-o-Y change from June ’24 to June ’25. EBITDA already showing a reduced number here. So INR30 crores for a right comparison between EBITDA numbers over the years. So INR30 crores versus INR19 crores in June ’24, a 58% growth. We are very happy with that. And PAT also has grown significantly from INR8 crores to INR23 crores. So quite a jump, quite a good outcome in terms of what we’ve been trying to do over the last few quarters where we are trying to do team — improvement in the team is improvement in the team utilization levels, cost optimization, using AI, both internally and externally to reduce the cost and improve the efficiency levels. So we have a little bit more detail on how much was the revenue from the operations, total revenue, revenue and an EBITDA margin has improved from 19% to 25%. This is excluding ERC. So that’s a real business margin and PAT from 8% to 19% so there is a good revenue growth and most of that growth is drilling down into the EBITDA and the PAT numbers. So our clients are growing and we are building momentum in all the three geographies that they are working. Next, please. A quick breakup between and Cloud Tech. By the way, this Cloud Tech will go away in a couple of quarters we applied for a merger. So this will not be reported to in future. In the geography terms, quite significant improvement in the European side of the business. We have about 20% contribution coming from Germany market, mostly Germany market. USA is 57%, UAE has also grown to 9% and the rest of the world, including India and APAC is 6%. So we — there was a conscious strategy of reducing India business and focusing more on the overseas side, also expanding consciously on the European side of it so that we balance the uncertainty from the US market. So it is going-in the right direction for us. The buyback was announced last quarter, it was executed and it was completed. Promoters did not participate even though we were eligible and we wanted to reward our shareholders and this was we returned about INR10 crores of cash to the shareholders. We’ll look at the question-answers in a few minutes, so please vote. A dividend has been announced in the last quarter, we — which will be released probably in the month of August and the record date is set as 25th July. Annual report is published you know you are welcome to using this so if you can just click the link and show the PDF can we do that just click okay we can just come back to the space come back to the link it is available on the website please feel free-to review that next week we have an AGM on 15th AGM on the 4th of August at 4 PM in the quick business updates. We’ve received more awards 10th time named as dream companies to work for and 7th time as world MP’s Best Employer Award we conscious constantly attend conferences. This is annual event from ServiceNow. So we got to be there. We had significant presence there and learned and understood the new trends that ServiceNow is bringing for their customers. Same here with World Tour of Salesforce in Dubai. We are investing in AI and data and technologies so Data is one of the emerging partners in that ecosystem so we are investing there. Our CRO was part of that event we organized AI heckathon in means 100 plus members participated and we got few good ideas to explore further. The CSR activity we are proud to say that we got the most impactful employment generation award for the work that we are doing at Foundation. This was given a month ago to us by Nara and a new batch that we completed in the Foundation. These are all underprivileged kids that we are training for free for a year and eventually the idea is after a year of software engineering training they would get a job and 90% people get placed in IT companies are the we plant trees on birthdays of every team member, so we planted 332 trees in last quarter and we also did a lot of activities on Environment day like seed wall making activity, car pooling day and no R&D and so on and so on. We are ISO 9,000 certified for quality management, for information security, environmental management and occupational health conceptive management systems for all our offices. And we also have initiated a specialized leadership program for budding women leaders in the company and we — this is the second batch that we have launched. It’s a year-long program about 30 members from the women leadership attends this and they really grew in their career after this course. Market data which most of you are aware of this is as of 30th of June market price was 379 the market came was INR900 crores so the promoter shareholding was 74.4 and public was 25.6. Next, please. That’s it. Thank you so much. We are open to question-and-answers and I will let Surviv this please.
Questions and Answers:
Avinash Sethi
So thank you, Vinaj. So now we will begin with the question-and-answer session. Participants are requested to unmute themselves only when it is their turn. Please limit your question to one at a time. You are welcome to rejoin the queue for the follow-up questions if the time permits. Thank you for your cooperation. So let’s begin with your first question.. A quick snapshot on the financial update. This is a summary we’ll go into detail in the next line, but a quick snapshot here, INR124 crores in revenue and a word of caution here, we have INR6 crores of employee retention credit from the US government and that was given during COVID times and we applied for it in 2022, but received in last quarter.
So there is a revenue shooter from the extraordinary income. But despite that, if I remove that also, we have a decent growth in terms of Y-o-Y change from June ’24 to June ’25. EBITDA already showing a reduced number here. So INR30 crores for a right comparison between EBITDA numbers over the years. So INR30 crores versus INR19 crores in June ’24, a 58% growth. We are very happy with that. And PAT also has grown significantly from INR8 crores to INR23 crores. So quite a jump, quite a good outcome in terms of what we’ve been trying to do over the last few quarters where we are trying to do team — improvement in the team is improvement in the team utilization levels, cost optimization, using AI, both internally and externally to reduce the cost and improve the efficiency levels.
So we have a little bit more detail on how much was the revenue from the operations, total revenue, revenue and an EBITDA margin has improved from 19% to 25%. This is excluding ERC. So that’s a real business margin and PAT from 8% to 19% so there is a good revenue growth and most of that growth is drilling down into the EBITDA and the PAT numbers. So our clients are growing and we are building momentum in all the three geographies that they are working. Next, please. A quick breakup between and Cloud Tech. By the way, this Cloud Tech will go away in a couple of quarters we applied for a merger. So this will not be reported to in future.
In the geography terms, quite significant improvement in the European side of the business. We have about 20% contribution coming from Germany market, mostly Germany market. USA is 57%, UAE has also grown to 9% and the rest of the world, including India and APAC is 6%. So we — there was a conscious strategy of reducing India business and focusing more on the overseas side, also expanding consciously on the European side of it so that we balance the uncertainty from the US market. So it is going-in the right direction for us.
The buyback was announced last quarter, it was executed and it was completed. Promoters did not participate even though we were eligible and we wanted to reward our shareholders and this was we returned about INR10 crores of cash to the shareholders. We’ll look at the question-answers in a few minutes, so please vote. A dividend has been announced in the last quarter, we — which will be released probably in the month of August and the record date is set as 25th July. Annual report is published you know you are welcome to using this so if you can just click the link and show the PDF can we do that just click okay we can just come back to the space come back to the link it is available on the website please feel free-to review that next week we have an AGM on 15th AGM on the 4th of August at 4 PM in the quick business updates.
We’ve received more awards 10th time named as dream companies to work for and 7th time as world MP’s Best Employer Award we conscious constantly attend conferences. This is annual event from ServiceNow. So we got to be there. We had significant presence there and learned and understood the new trends that ServiceNow is bringing for their customers. Same here with World Tour of Salesforce in Dubai. We are investing in AI and data and technologies so Data is one of the emerging partners in that ecosystem so we are investing there. Our CRO was part of that event we organized AI heckathon in means 100 plus members participated and we got few good ideas to explore further.
The CSR activity we are proud to say that we got the most impactful employment generation award for the work that we are doing at Foundation. This was given a month ago to us by Nara and a new batch that we completed in the Foundation. These are all underprivileged kids that we are training for free for a year and eventually the idea is after a year of software engineering training they would get a job and 90% people get placed in IT companies are the we plant trees on birthdays of every team member, so we planted 332 trees in last quarter and we also did a lot of activities on Environment day like seed wall making activity, car pooling day and no R&D and so on and so on.
We are ISO 9,000 certified for quality management, for information security, environmental management and occupational health conceptive management systems for all our offices. And we also have initiated a specialized leadership program for budding women leaders in the company and we — this is the second batch that we have launched. It’s a year-long program about 30 members from the women leadership attends this and they really grew in their career after this course. Market data which most of you are aware of this is as of 30th of June market price was 379 the market came was INR900 crores so the promoter shareholding was 74.4 and public was 25.6.Next, please. That’s it. Thank you so much. We are open to question-and-answers and I will let Surviv this please.
Surbhi Jain
So thank you, Vinaj. So now we will begin with the question-and-answer session. Participants are requested to unmute themselves only when it is their turn. Please limit your question to one at a time. You are welcome to rejoin the queue for the follow-up questions if the time permits. Thank you for your cooperation. So let’s begin with your first question. The first question is coming from the line of Mr Ankit Kumar. So Ankit, please unmute yourself and proceed with your question.
Ankit Kumar
Hello, sir, am I audible?
Avinash Sethi
Yeah, please.
Ankit Kumar
Yeah, great for — great set of numbers, sir. Congrats for that. Sir, my first question is you said we have lot of repeat customers. So in terms of this revenue number of INR112 crores of this quarter, can you comment how much is basically repeat customer thing which we expect annuity-type of business, which we expect to come? And linked question is, this quarter we have grown sales quite well, which was not happening in any of the previous quarters. So can you comment how is the demand environment, how — what happened this quarter and on continuity of that, please?
Avinash Sethi
So Ankit, thanks for asking this. I’ll give you — Adil, I’ll answer the second question first. So it’s not that this magic happened in just this quarter. We have been building the momentum quarter-over-quarter. So if you look at last 3/4, the numbers are inching upwards. And what has happened particularly in this one is a lot of those efforts have started to materialize. And with the AI interjections that we are offering to our customers where we are implementing certain accelerators, we are giving them certain prototypes on how we can expand into using AI tools, things are looking positive.
And the other thing is that the European market has shown a very good traction where we are getting new clients as well as expanding into the existing ones. So all of these combination has led to improvement. And I keep Telling in all my quarterly calls that we are also working towards consciously increasing our rates, consciously cutting the tail, consciously improving on the — I mean, doing the cost optimization efforts. So I think it is not just one thing that has happened. It is the combination of all of these that has yielded the results that we are aiming for quite some time. So yes, we are seeing good growth in all the top clients, I would say. And the repeatability is not an annuity kind of a business. We are not into SaaS where we have a subscription and we get repeat business from our customers. What I mean by repeat business is, we work with the same clients on new projects or we expand into the clients and we generate more revenue by various means. One is expanding into more departments, the other is giving them flavor of new technologies and new tools and new technologies and try to expand into existing you know divisions as well. Software is something like you wanted more you cannot live with less. And therefore, these businesses, if we can generate more outcome for them and they’ll be happy to adopt more software and more technologies for their business.So this is where I would say the business from existing customers have been higher for us. And if we were to break it up, I would say,maybe give you a more idea, would it be —
Siddharth Sethi
I’ll try and explain. So repeat business means that 95% of our customers stay with us. More than 95% of our customers stay with us. As Avinaj said that we create a very strong bond. These customers stay with us for a very long-term. So the customer churn is very, very less and that is one of the key aspects of our — whatever success we are seeing. We really believe in very long-term relationships.
Ankit Kumar
Basically to say this type of
Siddharth Sethi
Just come to the counter question later on. You can rejoin the queue, Alget.
Ankit Kumar
Maybe this is just a follow-up on that same question. Basically, so you are saying that this kind of — this kind of number will continue and we will only improve from here in the coming quarters.
Siddharth Sethi
That is the hope. That is what we are trying to see, not only improve, I mean improve in good measure, that is the hope. I don’t know if you can say that it will definitely happen, but that is what we are trying to do and that is the efforts that we are trying to put in. So thank you so much, Andy.
Avinash Sethi
Thank you, Andy.
Ankit Kumar
Thank you.
Surbhi Jain
It is coming from the line of Mr. So, please unmute yourself and ask your question.
Unidentified Participant
So hear me? Am I audible?
Avinash Sethi
Yes. Yeah.
Unidentified Participant
Hi, Avinas, congratulations, fantastic set of numbers. Just want to know about your US — Europe and Canada, last con-call you talked about some initiatives you have taken. And can you just deep a little dig a little deeper into how those initiatives are — are there some initial green shoots you know coming from Europe. Yeah. And the corollary is what is your arrowhead in Europe and Canada?
Avinash Sethi
Was that? If you can repeat?
Unidentified Participant
The arrowhead, what you are sell — are you selling the traditional IT services or is there some unique aero be chats you have?
Avinash Sethi
Sure. I’ll take it partially and then I’ll ask Siddar to help here because he looks at the European market. The Canadian thing that I talked about last-time was more around we’ve got good clients there and it’s a combination of a product that we have — I will not say full product, it is a accelerator called. So is delivering some good results in the SDO space. SDO is standard development automation space and it is kind of a ready-made few steps of a tool that is required by each of these companies in the SDO space. So Sanjai is working out fairly well as a door opener and the SDO space.
Now we have got a couple of clients in the Canadian market on the SDU side using. And second thing that we’re doing is we are we have another accelerator in the AI space called as Expona and that, which was earlier named is Kilo, now it is renamed as Expona. So Expona is being prototyped, being deployed at a couple of clients in Canada and that has also shown very good traction where we are seeing positive outcomes of that AI initiative using Expola.
So both Expona are accelerators that we have built in-house and we are able to generate business and good expansion possibilities within those clients. So that is the Canadian part. For the European part, I’ll let Siddhar speak about as to how we are able to — what is the arrowhead in the European market.
Siddharth Sethi
So infhomes in general is — has pivoted to an AI first strategy. We have taken a very conscious — conscious effort in the last two and 3/4 to make sure that our AI strategy, our AI implementations really take-off not only to reduce cost, which is of course, a very primary aspect, but also to help us increase revenue. And that has become one very important and sharp era ahead, not only in Europe, but across our entire offering. So Avinash talked about Expona. This is an internal product, almost like a product that we have built that we can take to our clients, ready-made, almost ready-made, customize it a little bit and start implementing them and they see almost immediate gains and immediate results.
The second very important for us has been ServiceNow. And most of our European operations, European sales and revenues come through a ServiceNow first and AI first strategy. So when we go and talk to our customers, we talk to them about ServiceNow and then we try and expand into other areas, including and but not limited to AI, Salesforce and AI-led engineering. So ServiceNow, AI and design, these are three broader sets of things that we go to our clients with and we are seeing very good results. Not — and this is not just Europe, this is across-the-board. I think no conversation happens without the mention of these two letters a and I hope this answers your question does.
Unidentified Participant
Since only one question, I’ll come back-in the queue, but I’ve got a very important second question. Thank you so much. Thank you.
Surbhi Jain
Thanks. Thanks again. So next question is from Mr Yogesh. Very well. So Yogesh, please unmute yourself and ask your question.
Yogesh
Yeah. Hi, sir. That was a very good results, which came out. Also my one question is that the year-on-year revenue growth was 23%, but the profits grew by more than 200%. Can you like comment like what led to this such a good like margins?
Siddharth Sethi
So this is also a result of optimization around our team, but very importantly, we have started using a lot of AI in our implementation. So we are able to do the same amount of work or more amount of work with the same amount of people, same minimal — lower effort. So both of those combinations plus a very good cash management, a very good AR management, very good treasury management. So all of these things combined are helping us in our cost optimization. We’re not in any sort of cost-reduction mode.
We are investing very heavily into our team, very heavily into AI, very heavily into training our team to use AI. Across-the-board, we have implemented AI LLMs to help our team deliver more, even in sales, even in the people function, the way we are interviewing our potential candidates, the way we are assessing, evaluating our potential candidates, almost everything we have made AI first as a strategy.
Avinash Sethi
And I think in terms what is happening is the business needs a certain amount of, let’s say, say threshold both in terms of revenue and expenses to run. Now what was happening is we were unable to break that threshold in the past. And now what is happening is any additional revenue that comes up is directly distilling down to the profits. So I think margin turnaround looks like. But nevertheless, as Siddharv mentioned, all of these combination has got in the future.
Yogesh
Are there any big projects in the pipeline and can we see this margins growth like in the — also in the continuous coming years? See, I keep maintaining in the past also that for a business like ours, 24%
Avinash Sethi
EBITDA margin and a 14% 15% PAT margin is a healthy margin. And that usually is the is the goal and a target for us. Now there are times when it might cross those numbers by margin, but eventually it will catch-up in 1/4, two quarterly and there. But on a yearly basis, we aim to get that kind of at margin levels.
Siddharth Sethi
Also, we are investing very heavily in growth. So sometimes you might see a dip because we, for example, hiring a lot of salespeople now in the US and Europe. We just have increased our sales team by threefolds in the US and this margin improvement gives us that confidence that we can invest in our future growth. We are investing very heavily, as I have already said in AI and our frameworks, our products that talked about Expona they require some effort. So we — but we are very happy to invest in that for the future and I’m happy to say that it’s a very forward-looking sort of a product that customers are really, very happy about.
So these investments will come. And again, given the kind of cost management and treasury management that we are doing, it just gives us all a lot of confidence that we can continue to focus and invest in these areas.
Surbhi Jain
So thank you, which I think we need to take another question.So next question is from Mohit. Mohit, please unmute yourself and ask your questions.
Mohit Rathore
Hello, hi, can you hear me?
Avinash Sethi
Yeah,.
Mohit Rathore
Thanks for the opportunity and congrats for the results. My question is around the focus areas, where you mentioned that Salesforce Agentic AI ServiceNow. My first question was, are you also exploring some of the similar key focus areas in the future? If yes, what are those? And second, that now in the Agentic AI, I also wanted to ask that you mentioned customers asking that with the AI adoption, you reduce the cost also. Now whether this strategy will impact us also in the future that we are giving AI and in-turn, they’ll be paying us less also in the future maybe due to more optimizations. So how is going to basically impact us or do you see growth in that? What’s your perspective in that
Siddharth Sethi
Cost reductions, helping our customer reduce cost, not on the IT side, but on the operations side? That is the whole point of AgentI. So hopefully, the more we implement, the more they will come back to us and say, okay, we need more bots. So if their operations do better, they perform better at a lower-cost, they are then able to free-up their money to invest in their future, which of course cannot happen without technology. So I mean that is how the world works, right?
Mohit Rathore
Yeah, that’s great. Thanks. The first question here can answer, what are the focus areas you are exploring?
Siddharth Sethi
Focus areas for right now, see, AI is a very big focus area. And within AI, within AI, we have ServiceNow and Salesforce. These are two areas which obviously they use a lot of agentric AI. Now assist is a big part. We have just signed a deal with the Fortune 500 company on the analysis part, which is the AI piece of ServiceNow. And we continue to invest with these two big buckets along with an overarching AI-led engineering umbrella, this is what our immediate focus is going to be. Plus internally, we are going to continue to develop our accelerators around India.
Avinash Sethi
Just to add, we are looking at more companies to partner. These are like data is what I mentioned earlier in my presentation. The itself is another that we’re trying to look at in terms of closely working with them. And then there are more alliances that we’re looking at like, I mentioned a couple of quarters back that we are actively working with them in terms of being their implementation partners and also take AI to them. So these are those partnerships and alliances that we’re looking at to further expand into the AI.
Mohit Rathore
Okay. That’s great. Best wishes. Thank you.
Avinash Sethi
Thank you,.
Siddharth Sethi
Thank you,.
Surbhi Jain
Next question is from investor Param., please unmute yourself and ask your question.
Unidentified Participant
Hello, good morning.
Avinash Sethi
Good.
Unidentified Participant
Congratulations on the quarter. And what I wanted to ask is that you have onboarded six new clients in-quarter one of financial year ’26. So could you provide insights on their strategic importance, the sectors they belong to and their potential for long-term revenue contribution.
Siddharth Sethi
Okay. So every client is important to us. There’s absolutely no doubt. I just want to tell our investor community today that our first client with has been with us for entire journey. They gave us work when nobody gave us work 24 years, 25 years ago. So every single client is absolutely important for us. All the clients that we onboard now, they obviously they will have a long-term potential. Otherwise, we’ll not — I mean, there’s no point in engaging. But we look at every client to try and help them improve their efficiencies, improve their processes, try and help them create a better customer experience for their customers and try and increase their revenues etc.
So all these clients that we onboard, the six clients that we have and the 100 plus clients that we are working with over the past so many years, they are extremely important to us. And that is the only way that we can grow. We have to have a very client-focused approach. So yes, to answer your question in a short manner, yes, the clients are extremely important and we will grow with them.
Unidentified Participant
Sir, can you mention the sectors which they belong to? Like
Siddharth Sethi
They belong to manufacturing. They belong to retail in Canada, one of the largest discount retailers in Canada. The manufacturing, as I said, manufacturing construction equipment, they are one of the top three. Two of them are actually one of the — on the top three construction of material manufacturing. They have 100 plus plants, one of them and the other company is about 150 years-old. So these are very, very top-tier companies that we now interact with. Mean I showed you a slide earlier that I think it was a 30-plus number of enterprise-grade clients and that continues to be our focus. But we will never leave our first client ever, hopefully.
Unidentified Participant
Okay, okay. Thank you so much.
Surbhi Jain
Thank you,. So now the last question is coming from the line of Mr Saurabh. Saurabh, please unmute yourself and ask my question. Opportunity.
Unidentified Participant
Hi, Siddharth. Thank you. For the excellent set of numbers after a very long-time. I mean, a good. Yeah, good improvement in the margins for a very long-time, which we had loved to see. But I was going through all your numbers. So from 2014, this company has been doubling revenue every three years. But for last, I think from ’22 onwards, the sale has been stuck in around, say, INR400 crores of top-line. So what constraints do you see and with all the efforts do you foresee in next three years these things to change with the same set of margin continuing and how do you see, I mean company going-forward because we are stuck in a range of, say, say, INR400 crores of revenue for last three, four years.
Avinash Sethi
So you’re right,. And I think in last few quarters, we did comment on those situations. So it is a con — it is a long effort in terms of coming out-of-the. But I would — I would not complain about it. I think what has happened is there’s a lot of reach on returning happening within the organizations, within the clients, within the geography, we’ve recently seen it turmoil after the COVID. So I think I’m happy that we have sailed through that situation. We have, you know, emerged as a transformed company, both internally and externally. We have people like, we have people like Open Perry, we have.
And so there is a lot of strategic direction that we have taken over the last few quarters, I would say, at least five, six quarters where you know and with the results that we have delivered in this quarter, I’m happy to say that we are going-in the right direction. We are able to generate the margins that we always aim for. And there is no doubt in my mind that we will be able to maintain it in coming quarters or coming years. As also mentioned, 1/4 here and there, two quarters here and there does not affect us because we know the long-term direction of the business.
As you’ve also seen that since ’20 — in fact, it is since 2012 that we’ve been doubling ourselves every three years. And I also mentioned and accepted the fact that we did not grow in last two years. But if you look at ’21 to ’23, we doubled in two years. So yeah and at a certain point in Time and you perform very well at some point in time, you do not. So you learn from them those things you take new steps, you take new measures and you try and work-in the same direction. So I think that is what has happened for us. I’m sure this year we’ll be able to break that stigma of INR400 crores. But I think we are in the right direction. With all the pivoting, all the changes that we are seeing in the organization and the outcome that we are seeing, we are headed in the right direction.
Siddharth Sethi
I think the trailing-12 months, if you see online in some of the websites, the trailing-12 months already significantly beyond the INR400 crore mark. So hopefully, we’ll continue to grow.
Unidentified Participant
Yeah, yeah, I’m sure. Can I add
Siddharth Sethi
One more thing I’d like to add here also. I mean a short slide where we have, I think INR230 odd crores in the bank. And the intention is to put that to good use internally also to increase our sales efforts and increase our capabilities on the AI front, but also to acquire. So we have a very clear intention to acquire the right company. You can go-ahead and acquire a company today, but is it the right company? We’re very, very conscious of that fact that the company that we acquire has to be culturally correct. Of course, all the financials have to match-up and definitely it has to add and create one plus one greater than two sort of inflation.
Unidentified Participant
Yeah, yeah. But with the kind of growth which we are having in the company, say, organic growth, does this take the company from INR400 crore to say INR100,000 crore or do you need some inorganic acquisition to do this? How do you foresee? I mean, for next three, four years, do we have a roadmap?
Avinash Sethi
See, it is a combination of both the things. You know, we are investing on the organic side, that does not mean that we will not invest in the inorganic side also. Inorganic is very subjective in terms of the kind of right fitment, both culturally as well as you know, actually multiple dimensions, culturally, financially at business-wise, the potential wise plus the valuation and all those things, right? So it is a difficult match to find very, very quickly. We don’t want to just do a financial math here that join two companies and we have a hiring revenue. No, that doesn’t really work that way.
So acquiring a business is easy. You know, integration of that is difficult. So we want to — we have learned from our acquisitions and we are more cautious and conscious about what we choose. So it is going to take time. But nevertheless, our journey from INR400 crores to INR4,000 crores will not complete without acquisitions on the way. So it will happen.
Unidentified Participant
Any serious discussion as of now?
Avinash Sethi
No, otherwise, I would have really put up a slide on the presentation. There is nothing that we are seriously into right now. Okay. But we continuously scout for it. We have a team that continuously searches for the right company. And at any point in time, we will be evaluating three to four companies. So we’re active in that space.
Unidentified Participant
Yeah, thank you and all the best.
Avinash Sethi
Thank you.
Surbhi Jain
Thanks.
Siddharth Sethi
Thank you.
Surbhi Jain
So I think the band moin, they are in the queue again. Thank you for the follow-up question.
Avinash Sethi
Okay. Yeah, just to add, we just have five minutes more. So let’s be quick here.
Surbhi Jain
Ankit, you can start if you can unmute yourself and ask your question.
Ankit Kumar
Yeah. I had a follow-up. Thank you for taking that. Sir, in terms of employee cost, what time of the year do we take the increment hikes? And on this current run-rate of INR70 crore INR71 crore type quarterly run-rate, what should we expect for the full-year, please?
Avinash Sethi
So Ankit, what is happening is we have deferred our results last year from March to October. And therefore, the cycle for us will be starting October, which will be like two months from now. So that is one. We typically look at 10% to 12% of increment in the cost. So yeah, that will change for the remaining part of the year right.
Surbhi Jain
So did you please unmute yourself and follow-up question.
Unidentified Participant
Can you hear me?
Avinash Sethi
Yes.
Unidentified Participant
Yeah. In the last three, four quarters, a lot of IT companies have optimized their cost structure to the max possible. Do you have any cost takeout lever still, which you think will play-out in next three to five quarters?
Avinash Sethi
I believe that is always the case, you know, we will always find new avenues to improve the cost measures, cost metrics. And it is never done actually. That’s a constant exercise that we do. And it’s not just that we’ve been doing just four quarters ago, we’ve been doing it every time. Every time we find a new and better way to handle the same task. So yeah, it will continue to happen.
Unidentified Participant
Great, great. And we will balance that with — along with the investment priorities, right?
Avinash Sethi
Yes.
Unidentified Participant
Okay. Thank you so much.
Avinash Sethi
Thank you. So thank you everyone for all the questions and thank you for trusting us. It’s Mohit
Mohit Rathore
Yes, I would want to ask one question if may.
Avinash Sethi
Yeah,
Mohit Rathore
Thanks for the opportunity again. I wanted to hear about your tot leadership or point-of-view blockchain. I see a lot of traction in US, Europe also starting even the BI standards started doing some POs in tokenization. So I wanted to hear in terms of focus area, will you be exploring on blockchain or you don’t see any value, please.
Avinash Sethi
So we did invest in blockchain in ’23 and ’24. And after two years of investment and efforts trying to sell that technology to our customer-base, we found some traction, but not enough to retain a large team and continue to invest in that space. So we are out of blockchain as of now.
Mohit Rathore
Okay. Thank you.
Avinash Sethi
Thank you.
Surbhi Jain
Thank you.
Operator
All right. Thank you, everyone, for joining the call and now you may disconnect your lines.
Siddharth Sethi
Thank you so much everyone for your trust in and we continue to hope to see to see you again quarter-after-quarter. Thank you so much everyone