MPS Limited — Investor Meet, 07-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

MPS reported 9M FY26 revenue of INR 563.2 Cr, with Q3 revenue at INR 182.5 Cr and an EBITDA margin of 31.6%. Education Solutions grew over 38% in 9M, with Q3 revenue up 11.3% YoY at a 40.8% EBITDA margin. Research Solutions, a stable anchor, contributed 61.1% to 9M revenue, achieving 16.2% organic growth (ex-AJE). Corporate Learning saw a pullback, prompting strategic realignment.

Management expects FY26 EPS to comfortably surpass INR 100. The acquisition of Unbound Medicine for USD 16.5M is a transformative step, expanding MPS into the medical/nursing B2B sector with recurring revenue, primarily boosting the Education segment. Management views AI as an opportunity, leveraging domain expertise to consolidate the fragmented market. They anticipate strong growth in FY27 across all segments, including stabilization for AJE.