Ksolves' 25.73% margin clears IT peer median as AI work expands
Management said four AI-embedded clients contributed about one-third of quarterly revenue and that a bank engagement is being extended into Agentic AI.
Filed 23 Oct 2026, 12:36 IST · Ksolves India Ltd (KSOLVES)
Key takeaways
- Ksolves reported consolidated Q2FY27 operating margin of 25.73%, 6.08 percentage points above the 19.65% median for 21 reported IT peers.
- Management said four AI-embedded clients contributed approximately USD 1.4 million, or about one-third of Q2FY27 revenue.
- Other income was Rs 0.37 cr against profit before tax of Rs 9.08 cr, leaving operating earnings as the main profit source.
Price around the results
Operating earnings led the consolidated quarter
On a consolidated basis, Rs 37.8 cr of revenue generated Rs 9.73 cr of operating profit, while other income was only Rs 0.37 cr against profit before tax of Rs 9.08 cr. The composition indicates that reported earnings were driven mainly by the operating business rather than by non-operating income.
Ksolves stayed above the reported IT peer margin
Ksolves' 25.73% operating margin was 6.08 percentage points above the 19.65% median among 21 Information Technology peers that had reported the quarter. That places the company's operating profitability clearly above the sector comparison available for Q2FY27.
AI-embedded clients formed a meaningful revenue base
Management said four clients with AI embedded in delivery contributed approximately USD 1.4 million in Q2FY27, equal to about one-third of quarterly revenue. The company said it has established an in-house AI Centre of Excellence and embedded AI across all deliveries, while extending a South American commercial-bank engagement into a sizeable Agentic AI initiative.
Expansion adds delivery and geographic capacity
Management said Ksolves incorporated a wholly owned UAE subsidiary and opened delivery centres in Noida and Indore, along with a new Pune office. The company also said it serves clients across more than 30 countries and launched Dashboard Ninja, which topped the Odoo App Store.
Q2FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 |
|---|---|
| Revenue | ₹38 cr |
| Other income | ₹0 cr |
| Expenses | ₹28 cr |
| Operating profit | ₹10 cr |
| Operating margin (%) | 25.73% |
| Interest | ₹0 cr |
| Depreciation | ₹1 cr |
| Profit before tax | ₹9 cr |
| Tax | ₹2 cr |
| Net profit | ₹7 cr |
| EPS (₹) | ₹3.05 |
Operating margin of 25.73% compares with a Information Technology sector median of 19.65% across 21 peers that have reported Q2FY27.
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
This quarter
- Four clients with AI embedded in delivery contributed approximately USD 1.4 million in Q2 FY27, about one-third of quarterly revenue.
Expansion
- Ksolves incorporated a wholly owned UAE subsidiary as part of its global expansion.
- Ksolves opened new delivery centres in Noida and Indore during its expansion phase.
- Ksolves opened a new office in Pune.
- Ksolves serves clients across more than 30 countries.
New products
- Ksolves launched Dashboard Ninja, which topped the Odoo App Store.
New initiatives
- Ksolves is extending its South American commercial-bank engagement into a sizeable Agentic AI initiative.
- Ksolves has established an in-house AI Centre of Excellence and embedded AI across all deliveries.
What to watch
- Whether operating margin stays above 25.73%.
- Whether the four AI-embedded clients' contribution remains around USD 1.4 million.
- Whether the tax rate remains close to 20.2%.