Virinchi Limited (VIRINCHI) Financial Results — Revenue ₹286.13 Cr

Investor Takeaways

Revenue grew 19.53% YoY to ₹183.38 crores, driven by 15.42% SaaS growth to ₹153.94 crores.

PAT declined 12.85% YoY to ₹13.98 crores due to a one-time ₹8.43 crore bad-debt write-off.

Consolidated PAT fell 5757.92% YoY to ₹-27.39 crores, reflecting the write-off and margin pressures.

Core SaaS revenue growth and healthcare subsidiary turnaround efforts support long-term recovery potential.

Overall Tone: Neutral

Key Financial Highlights

Metric	Value	YoY Change
Revenue	₹183.38 Cr	+19.53%
Net Profit	₹13.98 Cr	-12.85%
EBITDA	Not available	Not available
EPS	Not available	Not available
OPM	Not available	Not available

What Changed

The filing reveals a mixed performance: consolidated revenue grew 19.53% YoY to ₹183.38 crores, with SaaS revenue up 15.42% to ₹153.94 crores, indicating strong underlying demand. However, profitability was significantly impacted by a one-time ₹8.43 crore bad-debt write-off on QC Holdings receivables, causing consolidated PAT to plunge 5757.92% YoY to ₹-27.39 crores. The reported PAT of ₹13.98 crores (down 12.85% YoY) reflects the write-off's effect on the bottom line. While core SaaS growth remains robust, margin pressures and the write-off overshadow near-term profitability, though the company emphasizes stable SaaS recurring revenue and healthcare subsidiary turnaround efforts for FY27 recovery.

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
Virinchi Limited	26.25	Not available	Not available	205.93
Tata Consultancy Services Limited	17.17	50.36%	67.57%	8,19,135.01
Infosys Limited	16.55	29.19%	40.82%	4,53,824.26
HCL Technologies Limited	18.64	23.63%	31.85%	3,07,349.71

Virinchi Limited's P/E ratio of 26.25 is higher than TCS (17.17), Infosys (16.55), and HCL Technologies (18.64), suggesting a premium valuation relative to peers, potentially reflecting growth expectations despite current profitability challenges.