Seshaasai Tech.

Q3 FY26

Seshaasai Tech. Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Q3 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹394

Market cap₹6.4K Cr

P/E23.6

Updated26 Aug 2026

Read4 min read

The short version

Payment Solutions**: Expected upward trajectory in Q4 FY26 with multi-year contracts secured, including a large public sector bank expanding into metal, biometric, and dynamic CVV cards; strong traction in metal and premium cards anticipated. Q3 FY26 showed 10.1% Y-o-Y revenue growth and 19.3% Y-o-Y PAT growth with a PAT margin of 17.15% - Payment solutions segment is expected to grow steadily with multi-year contracts secured, including

From Seshaasai Tech.'s Q3 FY26 earnings-call transcript · updated 26 Aug 2026.

Revenue & Sales Performance

**Payment Solutions**: Expected upward trajectory in Q4 FY26 with multi-year contracts secured, including a large public sector bank expanding into metal, biometric, and dynamic CVV cards; strong traction in metal and premium cards anticipated. Growth driven by volume increase and premium product demand.
**Communication and Fulfillment Solutions**: Stable growth driven by regulatory communication needs and government contracts; multi-year contracts secured worth approximately INR210 crores over contract periods; steady demand expected.
**IoT Solutions**: Significant growth seen with 100% year-on-year increase; near-term revenue impact due to project rollout delays expected to be compensated in Q4; new large retail client anticipated to become the largest account. Expansion through global partners supplying RFID tags; growth supported by investments in product maturity, data logging, cold chain monitoring, and upcoming eSIM business.
**Overall Outlook**: Medium-to-long-term optimism with capacity expansions and technological investments; Q4 historically stronger, expected to continue growth momentum across verticals.

Profitability & Margins

Q3 FY26 showed 10.1% Y-o-Y revenue growth and 19.3% Y-o-Y PAT growth with a PAT margin of 17.15%
Payment solutions segment is expected to grow steadily with multi-year contracts secured, including metal and premium cards driving future demand
IoT business grew 100% Y-o-Y, with strong volume ramp-up expected in next two months and new large retail customer potential, projecting continued growth in the coming years
Communication and fulfillment solutions remain stable with multi-year contracts adding to revenue visibility
Gross margins improved to around 43-45%, driven by product mix, operational efficiencies, and procurement initiatives, expected to maintain similar range
The firm is investing in capacity expansions (IoT, automation, metal cards) to support medium to long-term growth and expects a stronger Q4 FY26 performance
Overall outlook is optimistic on disciplined execution, contract wins, and technology investments fueling future operating earnings and profits growth

See what Seshaasai Tech. said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

The company is undertaking construction across four locations for new facilities in Bengaluru, Nagpur, Navi Mumbai, and Kundli to support future business growth.
In Q3 FY26, capital expenditure stood at INR 34.28 crores.
Total IPO proceeds utilized as of Q3 FY26 were INR 346 crores, with approximately INR 254 crores remaining to be utilized over subsequent quarters.
The company is investing in capacity expansion, including metal card manufacturing capabilities, to prepare for increasing demand and large upcoming opportunities.
Strategic investment in Alomind Labs, enhancing their IoT product maturity and enabling new projects related to data logging and cold chain monitoring.
Final stages of GSMA SAS certification expected soon, facilitating growth in their eSIM business within the IoT vertical.

Fundraising & Capital Structure

As of Q3 FY26, Seshaasai Technologies Limited has been actively deploying IPO proceeds primarily towards debt repayment, having repaid approximately INR 300 crores so far.
Capital expenditure during Q3 was INR 34.28 crores, with about INR 254 crores of IPO proceeds remaining unutilized, planned for future deployment.
There is no specific mention of any current or immediate future fundraising plans through debt or equity in the call.
The company appears well-capitalized with a cash and cash equivalents balance of approximately INR 387 crores as of December 31, 2025.
No announcements or indications of new fundraises through debt or equity were disclosed during the Q3 FY26 earnings call.

See what Seshaasai Tech. said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The company has a sizable order book for metal cards expected to grow significantly starting Q4 FY26 and into the next financial year.
They are working on multiple metal card projects with at least three government banks and several large customers.
A large new retail client in the IoT segment is pending allocation of order volumes; once confirmed, it will become the largest account.
There are ongoing discussions with global fintechs and other large clients for new orders, especially in IoT and payment solutions.
Overall, key upcoming orders in metal cards, IoT tags, and other payment solutions are expected to bolster revenue and growth.
The company plans to expand metal card capacity to meet anticipated demand from new contracts.

Seshaasai Tech. — Quarterly revenue & net profit

Revenue Net profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹404 Cr, net profit ₹83 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Seshaasai Technologies Ltd's management said in earlier quarters

Others in Financial Technology (Fintech) this season

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Pine Labs (Q3 FY26)
Issuance business grew 42%, digital payments business grew 16%, contributing to overall 24% revenue growth year-over-year. Key concall takeaways from Pine Labs…
One 97 Communications Ltd (Q3 FY26)
Device growth in merchant business remains robust with approximately 27 lakh new devices added annually, and potential penetration rising up to 20% (Page 20)…
PB Fintech. (Q3 FY26)
Term and health insurance currently make up around half the business, with term growing about 70%. Key concall takeaways from PB Fintech Ltd's Q3 FY26 earnings…

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Frequently Asked Questions

What were Seshaasai Tech. Q3 FY26 results?

What is Seshaasai Tech. share price analysis?

Seshaasai Tech. currently shows a neutral. The stock trades at a P/E of 23.6 with a market cap of ₹6,352 Cr. Investors should review the full earnings analysis for detailed insights.

Is Seshaasai Tech. planning capital expenditure?

The company is undertaking construction across four locations for new facilities in Bengaluru, Nagpur, Navi Mumbai, and Kundli to support future business growth.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.