Kore Digital Ltd

Q4 FY25Telecom - Services

Kore Digital Q4 FY25 earnings call: Revenue & Margins

Q4 FY25 earnings call: what management guided on revenue, margins and order book.

Price₹88

Market cap₹129 Cr

P/E3.5

Updated23 Aug 2026

Read4 min read

The short version

Kore Digital expects strong growth with revenue projections of INR 600-700 crores in FY26, mainly from core telecom and road EPC business. The company expects revenue for FY26 in the range of INR 800 to 1,000 crores, with some delay in Samruddhi project causing a 6-month lag.

From Kore Digital Ltd's Q4 FY25 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

Kore Digital expects strong growth with revenue projections of INR 600-700 crores in FY26, mainly from core telecom and road EPC business.
The Samruddhi Highway project is a significant contributor, expected to generate INR 600-1000 crores, with 2-3 similar projects in the pipeline (e.g., Mumbai-Delhi route).
Additional 3-4 big tenders in telecom and construction sectors are anticipated to support growth beyond FY26.
The company aims for 100% year-on-year growth over the next two years, with slower but sustained growth thereafter.
New defense sector ventures are expected to drive exponential growth, with potential revenue targets as high as INR 10,000 crore and beyond long-term.

2 more points management made on revenue & sales performance

Profitability & Margins

The company expects revenue for FY26 in the range of INR 800 to 1,000 crores, with some delay in Samruddhi project causing a 6-month lag.
PAT margins for the current financial year are forecasted at approximately 8%-10%.
The growth trajectory is strong, with guarantees of 100% growth for the next two years.
Longer term, growth may moderate to around 50% annually, which is still considered significant.
New projects and tenders, especially in defense and telecom, are expected to contribute to future growth.
The defense segment is seen as a major future opportunity, with potential revenues of INR 10,000 crores down the line.
The company is investing in machinery and fixed assets to support growth.

2 more points management made on profitability & margins

See what Kore Digital Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Currently, there is no immediate need for capex as the company is "flooded with cash" (Page 9).
New machinery and equipment worth approximately INR 55-60 crores have been purchased, primarily for telecom and owning the network assets, including purchase of right of way (Page 5).
Planned future capex will depend on securing defense sector orders; capex will be undertaken when defense projects require it (Page 9, 10).
Once defense clearance and orders come through, additional government-backed funding (INR 100 crores) will be available for defense-related capex (Page 10).

2 more points management made on capital expenditure plans

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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

Currently, Kore Digital Limited does not have an immediate need for fundraising as they are "flooded with cash."
A recent payment of INR 20 crores was received from Vodafone, contributing to the cash reserves.
Ravindra Doshi mentioned that if the defense project comes through, there will be government-backed funding of INR 100 crores.
If additional funds are needed in the future, the company has investors and market access to raise capital.

2 more points management made on fundraising & capital structure

See what Kore Digital Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

Samruddhi project is active but delayed by about 6 months; timeline extended accordingly.
Four additional projects mentioned: Cogent Communication (pending government permission), RailTel (active), Mumbai Metro (tender not won), and Crest Digital (survey ongoing).
Participation in five new tenders, expecting success in at least one by December.
Multiple smaller contracts expected alongside Samruddhi; Samruddhi is unique and large-scale.
Future pipeline includes 2-3 more Samruddhi-like projects (e.g., Mumbai-Delhi route) with strong government ties.
Defense-related orders anticipated this financial year, backed by strategic alliances and senior advisors.

2 more points management made on order book & pipeline

Kore Digital Ltd — Quarterly revenue & net profit

Revenue Net profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Reported quarterly figures (₹ Cr). Latest: revenue ₹101 Cr, net profit ₹11 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

What Kore Digital's management said in earlier quarters

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Frequently Asked Questions

What were Kore Digital Ltd Q4 FY25 results?

What is Kore Digital Ltd share price analysis?

Kore Digital Ltd currently shows a neutral. The stock trades at a P/E of 3.5 with a market cap of ₹129 Cr. Investors should review the full earnings analysis for detailed insights.

Is Kore Digital Ltd planning capital expenditure?

Currently, there is no immediate need for capex as the company is "flooded with cash" (Page 9).

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.