eMudhra Limited (EMUDHRA) showcased robust financial performance in Q2 and H1 FY2027, with a 19.6% year-over-year revenue growth. The company reported a net profit of Rs 334 Mn, marking a 26.3% increase. The strong performance was driven by a 21.6% rise in EBITDA and a 21.9% margin. Notably, the company’s cybersecurity segment contributed significantly, with a 24.6% EBITDA margin. Moreover, eMudhra’s enterprise solutions saw a 36% year-over-year growth, reflecting the increasing demand for post-quantum cryptography solutions.

Financial Highlights

The financial overview for Q2 FY2027 highlights several key metrics. Total income stood at Rs 2,093 Mn, with an adjusted EBITDA of Rs 535 Mn. The adjusted EBIT and net profit were Rs 414 Mn and Rs 350 Mn respectively, showcasing a healthy operational performance. The company’s basic earnings per share (EPS) also surged by 29.2% to INR 3.99.

Market Context and Future Outlook

As the market shifts towards post-quantum security, eMudhra is well-positioned to leverage its integrated trust stack and proprietary platforms. The company’s recent product releases, including hybrid post-quantum CAs and machine identity solutions, align with the growing need for quantum-safe cryptographic solutions. Looking ahead, eMudhra expects to address the increasing demand for machine-to-machine identity and data privacy solutions, further driving growth in its enterprise solutions segment.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of eMudhra Limited

eMudhra Limited belongs to the Technology › Software – Application sector. Here’s a quick read on where the business and the stock stand today.

eMudhra posts a 24.1% three-month gain, but softens in the last few weeks. Revenue grows at 41.3% and profits at 20.5% CAGR. Both numbers are exceptional. Not a single revenue dip or loss quarter in five years — this is a business built to last through cycles. The stock gives back 13.5% in the last month despite a positive three-month run. As a result, the earlier momentum appears to be fading. Revenue grows at 41.3% and profits at 20.5%. The business is in good shape. Moreover, a stock that does not move despite strong fundamentals often offers better value than one already priced for perfection. Check Fundamentals of eMudhra Limited.

eMudhra Limited (NSE: EMUDHRA) announced the unaudited financial results for the quarter and half year ended September 30, 2026, reflecting steady progress across product platforms. The company reported a total income growth of 19.6% year-on-year, reaching INR 2,093 million. The EBITDA margin stood at 24.5%, and the PAT margin was 16.0%, up 26.3% year-on-year.

Key Financial Highlights

The consolidated financial highlights for Q2 FY27 include:

• Total Income: INR 2,093 million, up 19.6% y-o-y
• EBITDA: INR 513 million, with a margin of 24.5%
• PAT: INR 334 million, up 26.3% y-o-y

Half-Year Financials

For the first half of FY27, eMudhra reported:

• Total Income: INR 4,018 million, up 23.4% y-o-y
• PAT: INR 654 million, up 27.1% y-o-y

Strategic Business Updates

Management highlighted several strategic business updates:

• Enterprise Solutions revenue grew 36% y-o-y, now accounting for 66% of total revenue.
• International markets contributed 66% of revenue, with new wins in Kazakhstan and Nigeria.
• The company will cease the sale of TLS certificates and exit that line of business to focus on Core Enterprise Platforms.

eMudhra continues to align its platforms to meet the growing demand for post-quantum readiness, machine and AI agent identity, and data privacy.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of eMudhra Limited

eMudhra Limited belongs to the Technology › Software – Application sector. Here’s a quick read on where the business and the stock stand today.

eMudhra posts a 24.1% three-month gain, but softens in the last few weeks. Revenue grows at 41.3% and profits at 20.5% CAGR. Both numbers are exceptional. Not a single revenue dip or loss quarter in five years — this is a business built to last through cycles. The stock gives back 13.5% in the last month despite a positive three-month run. As a result, the earlier momentum appears to be fading. Revenue grows at 41.3% and profits at 20.5%. The business is in good shape. Moreover, a stock that does not move despite strong fundamentals often offers better value than one already priced for perfection. Check Fundamentals of eMudhra Limited.

eMudhra Limited (NSE: EMUDHRA) announced today that its Board has decided to voluntarily withdraw from the global SSL/TLS certificate business. The decision comes after a detailed deliberation and is aimed at sharpening the focus on core enterprise solutions and trust services other than SSL/TLS.

Strategic Shift

Mr. V. Srinivasan, Chairman of eMudhra Limited, highlighted that global SSL/TLS is a small part of eMudhra’s business contributing to about 1% of the global revenue. Due to increasing data sovereignty and compliance requirements, the complexity and cost associated with this business have been rising. Moreover, the business potential and return on investment (RoI) have considerably reduced when measured against eMudhra’s cumulative revenue base.

Seamless Transition

eMudhra will ensure a seamless transition for customers. Its G1 RSA roots will continue to serve customers until the transition is complete. The company will reach out to affected customers to replace any certificate free of cost from partners during this period. Revocation and certificate status services will keep running until every issued certificate has expired or been replaced.

Core Businesses Unaffected

eMudhra’s global SSL/TLS infrastructure runs separately from its other operations. The company’s Global digital signature certificate (DSC), eSign, and other signing services, including those in India, its enterprise PKI Solutions (emCA, CertiNext platforms), emSigner eSignature Suite, and its identity and authentication solutions (SecurePass, emAS) are not affected and continue to operate as normal.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of eMudhra Limited

eMudhra Limited belongs to the Technology › Software – Application sector. Here’s a quick read on where the business and the stock stand today.

eMudhra posts a 24.1% three-month gain, but softens in the last few weeks. Revenue grows at 41.3% and profits at 20.5% CAGR. Both numbers are exceptional. Not a single revenue dip or loss quarter in five years — this is a business built to last through cycles. The stock gives back 13.5% in the last month despite a positive three-month run. As a result, the earlier momentum appears to be fading. Revenue grows at 41.3% and profits at 20.5%. The business is in good shape. Moreover, a stock that does not move despite strong fundamentals often offers better value than one already priced for perfection. Check Fundamentals of eMudhra Limited.