Workmates Core2Cloud Solution Ltd
Workmates Core2Cloud: H1 FY27 Revenue ₹95.21 Cr, Recurring Revenue Up 43.4% YoY
RESULTS
▲ Positive Development
LOW RISK
📅 Filed on BSE: 04 Nov 2026, 10:51 PM IST · BSE ID: a1d4fd7a-65fe-42aa-9016-452c81075b5b
View Original BSE Filing (PDF)
💡
In Simple Terms
Workmates Core2Cloud's half-year revenue and profit increased significantly, driven by growth in recurring business, and the company raised its full-year sales target.
🤖 AI Summary
- Workmates Core2Cloud reported ₹95.21 Cr Revenue from Operations for H1 FY27, an increase of 27.5% YoY.
- Recurring Revenue grew 43.4% YoY to ₹82.97 Cr, constituting 87% of total revenue for H1 FY27.
- Profit After Tax (PAT) for H1 FY27 increased by 32.4% YoY to ₹12.03 Cr.
- The company revised its FY27 revenue outlook upwards to ₹202 Cr from its earlier ₹190.56 Cr.
- Cash and cash equivalents stood at ₹43.88 Cr as of September 30, 2026, with the company remaining debt-free.
🔢 Key Numbers - exact figures from BSE filing, not rounded
Revenue from Operations (₹ Cr)
95.21
27.5%
Recurring Revenue (₹ Cr)
82.97
43.4%
Profit Before Tax (₹Cr)
15.96
30.8%
Profit After Tax (₹Cr)
12.03
32.4%
Cash & Equivalents (₹Cr) as at 30th Sept, 2026
43.88
EPS - Basic & Diluted (₹)
9.32
2.6%
🏢 How This Affects the Company
Revenue from operations grew 27.5% YoY to ₹95.21 Cr for H1 FY27, with recurring revenue increasing to 87% of total revenue. The company added 54 new logos and expanded its enterprise customer base to 44.
Profit After Tax rose 32.4% to ₹12.03 Cr, improving PAT margin to 12.6%. The company maintained a debt-free status with ₹43.88 Cr in cash, although operating cash flow was negative ₹4.70 Cr due to working capital funding growth.
Headcount remained steady at 169 with billable utilisation at 84%. Investment in AI accelerators continued, with intangible assets under development rising to ₹2.66 Cr.
Trade receivables increased to ₹39.50 Cr from ₹28.99 Cr, with debtor days moving from 62 to 64, indicating a priority for collections in H2 FY27.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required by shareholders based on this financial results filing.
👤
Who Is Affected
All shareholders are affected by the company's financial performance, with Basic & Diluted EPS for H1 FY27 reported at ₹9.32.
🔍
Management Signal
Management's decision to raise the FY27 revenue outlook to ₹202 Cr signals confidence in continued business expansion and operational execution.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List - track these upcoming events
Q3 FY27 results — monitor operating cash flow improvement and collections.
H2 FY27 business updates — track progress on US and Middle East expansion.
Annual FY27 results — verify if the raised revenue outlook of ₹202 Cr is achieved.
LOW RISK
The company maintains a debt-free status and reports strong recurring revenue growth. Negative operating cash flow requires monitoring.
💡 Investor Takeaway
Workmates Core2Cloud Solution reported H1 FY27 Revenue from Operations of ₹95.21 Cr, up 27.5% YoY, and Profit After Tax of ₹12.03 Cr, up 32.4% YoY. Recurring revenue increased to ₹82.97 Cr, making up 87% of total revenue, confirming business model strength.
⚖️ Strengths & Concerns
✅ Positives
- Recurring revenue surged by 43.4% YoY to ₹82.97 Cr in H1 FY27, now accounting for 87% of total revenue.
- Profit After Tax (PAT) increased by 32.4% YoY to ₹12.03 Cr, outperforming revenue growth and improving PAT margin to 12.6%.
⚠️ Concerns
- Operating cash flow was negative ₹4.70 Cr for H1 FY27, as working capital funded growth, making collections a priority for H2 FY27.
- Trade receivables increased to ₹39.50 Cr from ₹28.99 Cr, with debtor days rising to 64 from 62 as of September 30, 2026.
📅 Company Track Record
Workmates Core2Cloud Solution Limited declared an interim dividend of ₹2 per share for FY2026 in May 2026. The company was founded in 2018 and has grown revenue at an 83% CAGR over the last four years, as stated in the filing.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
What was Workmates Core2Cloud Solution's Revenue from Operations in H1 FY27?
Workmates Core2Cloud Solution reported Revenue from Operations of ₹95.21 Cr for the half year ended September 30, 2026 (H1 FY27).
How much did Workmates Core2Cloud Solution's Profit After Tax increase in H1 FY27?
Profit After Tax (PAT) for Workmates Core2Cloud Solution increased by 32.4% YoY to ₹12.03 Cr in H1 FY27.
What is the percentage of recurring revenue for Workmates Core2Cloud Solution in H1 FY27?
Recurring revenue for Workmates Core2Cloud Solution was ₹82.97 Cr in H1 FY27, representing 87% of the total revenue.
What is Workmates Core2Cloud Solution's updated revenue outlook for FY27?
Workmates Core2Cloud Solution has raised its FY27 revenue outlook to ₹202 Cr from the previous outlook of ₹190.56 Cr.
What was Workmates Core2Cloud Solution's cash and cash equivalents position as of September 30, 2026?
Workmates Core2Cloud Solution held ₹43.88 Cr in cash and cash equivalents as of September 30, 2026, remaining debt-free.
Questions based on this BSE filing only. For information purposes.