MPS is a B2B learning and platform solutions company powering education, and research for corporates. MPS has unlocked a new growth trajectory due to the combined effect of lower attention spans, rapid growth in digital consumption, and the recent advances in AI/ML.
Q3 FY26 Earnings Results
- Revenue from Operations: ₹182.49 cr, -2.08% YoY, -6.15% QoQ, slight decline driven by seasonal patterns and other income fluctuations.
- EBITDA: ₹57.58 cr; EBITDA Margin: ~31.55%, healthy operating profitability despite revenue dip.
- PAT: ₹35.50 cr, -12.80% YoY, -35.97% QoQ; margin compressed to 19.45% due to higher effective tax rate and lower other income.
- Other key metrics: Reported revenue includes adjustment items (AJE); excluding AJE, core revenue grew 6.48% YoY to ₹15,359 lakh and core EBITDA margin improved to 32.42%. Debt-free balance sheet with ₹143 cr cash & equivalents as of Dec 31 2025.
Management Commentary & Strategic Decisions
- Management commentary: Earnings presentation highlights operational resilience despite transitional challenges and margin pressure due to tax normalization and seasonal demand softness. Management emphasised disciplined cost control and focus on core business growth.
- Strategic moves:
- Acquisition: Approved acquisition of Unbound Medicine (USD 16.5 M) via MPS NA to bolster global footprint.
- Segment strategy: Research Solutions remains dominant (~63.3% of revenue) while Education Solutions showed strong expansion; Corporate Learning undergoing restructuring to improve future returns.
- Balance sheet: Maintains robust, debt-free financials with strong cash position.
Q2 FY26 Earnings Results
- Revenue from Operations: ₹194.44 cr, +9.42% YoY, +4.38% QoQ, moderate double-digit growth.
- EBITDA: ~₹60.47 cr; EBITDA Margin: ~31.10%, expanded ~410 bps QoQ.
- PAT: ₹55.44 cr, +57.32% YoY, +57.32% QoQ; EPS: ~₹32.64.
- Other key metrics: PBT ~₹69.17 cr (+43.9% YoY); margin expansion driven by disciplined cost control and lower tax rates.
Management Commentary Q2
- Performance commentary: Management highlighted strong profitability drive with significant YoY and QoQ PAT growth due to operational leverage, especially in Research and Education segments.
- Operational highlights: Exceptional items related to restructuring and the completed acquisition of Liberate Group were noted; company emphasized integration while managing cost efficiency.
To view the company’s previous earnings and latest concall transcripts, click here to visit the Alphastreet India news channel.