Bluspring Enterprises Limited — Investor Meet, 10-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Bluspring Enterprises reported Q2 revenue (ex-foundit) of ₹837 Cr (+14% YoY) and H1 at ₹1,614 Cr (+14% YoY). Q2 EBITDA was ₹29 Cr (+1% YoY), with margins reaching 3.5%. PAT grew 19% YoY to ₹16 Cr. Core businesses showed strong growth, notably Security with record headcount additions. Foundit revenue was ₹21 Cr, with quarterly costs slashed to ₹33 Cr, aiming for near break-even by year-end. DSO rose to 105 days from demerger-related billing delays, impacting H1 cash flow. Management expects better collections to reduce net debt (ex-foundit) below ₹100 Cr and targets 4% EBITDA margin for FY26. Strategic M&A in Food & Industrial is prioritized. Outlook: Confident on profitable growth.