R Systems International LimitedQuarter Ended June 30, 2026 Results & Financial Update
R Systems International Limited: Quarter Ended June 30, 2026 consolidated results and company financials – revenue ₹601.70 Cr, PAT ₹55.57 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore R Systems International Quarter Ended June 30, 2026 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
R Systems International reported consolidated revenue from operations of Rs. 6,017.01 million for the quarter ended June 30, 2026, marking a robust 30.2% increase year-on-year in INR terms and 17.7% in US dollar terms compared to Rs. 4,620.15 million in the corresponding quarter of the previous year.
Total income for the quarter stood at Rs. 6,030.69 million compared to Rs. 5,089.82 million in Q2 2025, which had benefited from a non-recurring pre-tax gain of Rs. 435.95 million from the sale of land and building assets at the Noida office.
Profit before tax (PBT) for Q2 2026 stood at Rs. 805.07 million compared to Rs. 991.83 million in Q2 2025 (which included the large asset sale gain), while net profit after tax (PAT) for the quarter was Rs. 555.70 million compared to Rs. 758.54 million a year ago.
Adjusted EBITDA for the quarter, which excludes employee stock option expenses and non-recurring severance costs, expanded strongly by 51.4% year-on-year to Rs. 1,207.50 million, yielding an adjusted EBITDA margin of approximately 20.1% compared to 17.3% in Q2 2025.
The margin performance was underpinned by improved resource utilization, operating leverage derived from the company's platform-led delivery model, and disciplined cost management across operating expenses.
Operational metrics showed a blended resource utilization of 81.13% during the quarter, with onsite utilization at 96.33% and offshore utilization at 78.95%. Trailing twelve-month billed and unbilled days sales outstanding (DSO) stood at 75 days.
The company secured several key client engagements during the quarter, including establishing a Global Capability Center (GCC) for a U.S. small business lender, driving Microsoft Dynamics 365 retail transformations, and modernizing core digital platforms for major telecommunications and ad-tech firms.
01 · Business model
What does R Systems International do?
R Systems International Limited operates as a leading digital product engineering company that designs and builds next-generation products, platforms, and digital experiences for clients across diverse industries.
The company's offerings span technology, internet, platforms, and services (TIPS), banking, finance, and insurance (BFSI), telecom, media, and entertainment (TME), health, and manufacturing and logistics sectors.
R Systems leverages proprietary accelerators such as EXIQO, OptimaAI, GCC Copilot, and C-Osmosis, supported by its global delivery platform and AI experts, to drive enterprise AI adoption and operational efficiencies.
The business model encompasses digital product engineering, software engineering, digital operations services, and knowledge services, catering primarily to independent software vendors, SaaS companies, enterprises, and mid-market players.
02 · Historical context
What shaped the business before this quarter
Novigo Solutions Private Limited and its subsidiaries became subsidiaries of the company effective November 13, 2025, expanding R Systems' technological capabilities and footprint.
A Composite Scheme of Amalgamation involving Velotio Technologies Private Limited and Scaleworx Technologies Private Limited with R Systems International became effective on May 1, 2026, with an appointed date of April 1, 2024, expanding the company's delivery infrastructure and equity base.
Effective January 1, 2026, the company designated certain foreign currency forward contracts as cash flow hedges under Ind AS 109, recognizing effective fair value changes in the Cash Flow Hedge Reserve under equity.
03 · Financial snapshot
Current quarter vs the two useful baselines
| Metric | Quarter Ended June 30, 2026 | Year-ago | Previous quarter |
|---|---|---|---|
| Revenue from operations | ₹601.70 Cr | ₹462.02 Cr | ₹574.77 Cr |
| Total income | ₹603.07 Cr | ₹508.98 Cr | ₹591.84 Cr |
| Profit before tax | ₹80.51 Cr | ₹99.18 Cr | ₹89.63 Cr |
| Profit after tax | ₹55.57 Cr | ₹75.85 Cr | ₹65.41 Cr |
| EPS | ₹4.69 | ₹6.41 | ₹5.52 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Revenue growth was propelled by sustained demand for AI-first engineering services enabled by EXIQO, the AI Studio, and the OptimaAI platform across client engagements.
Technology, Internet, Platforms & Services (TIPS) remained the largest revenue vertical at 41.39%, followed by Banking, Finance & Insurance (BFSI) at 20.47% and Telecom, Media & Entertainment (TME) at 16.11%.
The Americas remained the primary geographic revenue contributor at 71.50%, followed by APAC at 15.28%, Europe at 9.67%, and MEA at 3.55%.
What drove margins
Adjusted EBITDA margins improved to 20.1% from 17.3% in Q2 2025, supported by improved employee utilization rates and operating leverage.
Employee benefits expenses for the quarter were Rs. 3,661.55 million, which included share-based payment expenses of Rs. 62.37 million related to restricted stock units (RSUs).
Platform-led delivery models and disciplined cost management helped scale gross margins to 39.23% of revenue compared to 36.00% in Q2 2025.
05 · Demand, customers & order book
Where demand is coming from
Revenue contribution from the top 10 clients stood at 24.39%, top 5 clients at 17.02%, top 3 clients at 12.10%, and the largest client at 5.99% for Q2 2026.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
IT services segment revenue grew to Rs. 5,437.01 million for the quarter, generating segment results before tax, interest, and exceptional items of Rs. 687.84 million.
Knowledge services contributed Rs. 596.69 million in segment revenue, delivering segment results of Rs. 256.62 million.
Geography and market mix
The Americas continued to anchor geographic performance, accounting for 71.50% of total revenue for the quarter ended June 30, 2026.
APAC accounted for 15.28% of quarterly revenue, while Europe contributed 9.67% and the Middle East and Africa (MEA) represented 3.55%.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Total technical personnel stood at 4,728 professionals out of a total global employee headcount of 5,270 across 22 development and service centers.
Blended resource utilization including trainees was 81.13% for Q2 2026, with onsite utilization at 96.33% and offshore utilization at 78.95%.
Projects, capex and execution
Purchase of property, plant, and equipment for the six months ended June 30, 2026, was Rs. 130.31 million, alongside capital work-in-progress of Rs. 6.66 million.
08 · Strategy & new businesses
How the company is trying to change its growth mix
Recognized as a Horizon 2 GCC Accelerator in HFS' Horizons: GCC Services 2026 Report, validating the company's AI-first Global Capability Center model and proprietary accelerators like GCC Copilot, OptimaAI, EXIQO, and C-Osmosis.
09 · Reported developments
What changed operationally
Delivered 30.2% year-on-year growth in consolidated revenue in INR terms, reaching Rs. 6,017.01 million for the quarter.
Adjusted EBITDA rose 51.4% year-on-year to Rs. 1,207.50 million, with margins expanding to 20.1%.
10 · Items worth noticing
The line items that can distort a quick read
Q2 2026 results included non-recurring severance payments amounting to Rs. 16.17 million.
11 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Net cash generated from operating activities for the six months ended June 30, 2026, was Rs. 1,632.58 million, compared to Rs. 592.16 million in the corresponding period of 2025.
Billed Days Sales Outstanding (DSO) stood at 55 days, while Billed and Unbilled DSO was 75 days as of June 30, 2026.
Capital allocation & funding
Cash and bank balances, net of short-term borrowings, stood at Rs. 3,351 million as of June 30, 2026, compared to Rs. 2,726 million as of December 31, 2025.
Total equity attributable to shareholders was Rs. 10,982.68 million as of June 30, 2026.
12 · Previous-quarter changes
What changed since the previous quarter
Revenue grew 4.69% sequentially from Rs. 5,747.68 million in Q1 FY27 to Rs. 6,017.01 million in Q2 FY27.
13 · Key Q&A
The quarter, answered directly
What does R Systems International do?
R Systems International Limited operates as a leading digital product engineering company that designs and builds next-generation products, platforms, and digital experiences for clients across diverse industries.
What is the clearest takeaway from Quarter Ended June 30, 2026?
R Systems International reported consolidated revenue from operations of Rs. 6,017.01 million for the quarter ended June 30, 2026, marking a robust 30.2% increase year-on-year in INR terms and 17.7% in US dollar terms compared to Rs. 4,620.15 million in the corresponding quarter of the previous year.
What drove revenue or demand?
Revenue growth was propelled by sustained demand for AI-first engineering services enabled by EXIQO, the AI Studio, and the OptimaAI platform across client engagements.
What mattered most for margins or profitability?
Adjusted EBITDA margins improved to 20.1% from 17.3% in Q2 2025, supported by improved employee utilization rates and operating leverage.
What changed operationally beyond the headline numbers?
Total technical personnel stood at 4,728 professionals out of a total global employee headcount of 5,270 across 22 development and service centers.
What should the next disclosure help confirm?
Monitor the continued transition of mid-market enterprises from AI experimentation to production-grade deployment across client engagements.
14 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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15 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
AI Adoption Scaling: Monitor the continued transition of mid-market enterprises from AI experimentation to production-grade deployment across client engagements.
- 02
GCC Expansion: Track the scaling of Global Capability Center engagements and adoption of proprietary AI accelerators.
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