Fusion CX reports 12.7% organic growth in H1, enters Germany

Fusion CX Limited reported 12.7% organic revenue growth in H1 FY27, up from 12.0% in FY26, while the 2026 impacx acquisition established its entry into Germany with two delivery locations and about 250 employees. Total growth was 20.4% in H1 FY27, including 7.7% inorganic growth.

How did Fusion CX grow in H1 FY27?

Fusion CX grew revenue by 20.4% in H1 FY27, comprising 12.7% organic growth and 7.7% inorganic growth. Revenue by source was Rs 1,015.6 crore in H1 FY27, while the presentation identifies health-plan operations, artificial intelligence data, or AI data, and telecom as areas with the strongest traction. Banking, financial services and insurance, or BFSI, retail, and high-tech, travel and other were also described as progressing.

The growth mix changed from the two preceding financial years because Fusion CX's organic growth rate rose while inorganic growth declined. Organic growth was 9.4% in FY25 and 12.0% in FY26 before reaching 12.7% in H1 FY27. Inorganic growth was 24.7% in FY25 and 24.8% in FY26, compared with 7.7% in H1 FY27, while total growth declined from 36.8% in FY26 to 20.4% in H1 FY27.

Fusion CX reported a 35% revenue compound annual growth rate, or CAGR, over FY24 to FY26, as revenue increased from Rs 991.4 crore to Rs 1,818.2 crore. Its financial update separately reports earnings before interest, tax, depreciation and amortisation, or EBITDA, of Rs 192.7 crore in H1 FY27, with a 19.0% margin, compared with Rs 354.2 crore and an 18.1% margin in FY26.

What did impacx add to Fusion CX in Germany?

Impacx gave Fusion CX entry into Germany through an experienced German customer-experience, or CX, boutique with about 250 employees and two delivery locations. The presentation identifies the German sites as Kleve and Krefeld. Germany is now listed in Fusion CX's Europe and Africa delivery footprint alongside Morocco, Albania and Kosovo, while Reading in the United Kingdom is a sales office.

Impacx also brought more than 20 enterprise customers and more than 200 customers overall, according to the presentation. Its listed technology includes Data Hub, qNova AI and voice bots, and it has nearshore partners in Greece, Kosovo and Croatia. The presentation says those partners hold ISO 27001 and ISO 9001 certifications, but it does not disclose impacx's purchase price, revenue contribution, profitability or closing date.

The German acquisition adds delivery capacity as Fusion CX seeks to meet stated accelerating demand for nearshore and onshore contact centres. Nearshore represented 39.7% of the Q2 FY27 delivery-location mix, ahead of onshore at 33.3% and offshore at 27.0%. Management said acquired entities will add to inorganic growth in H2 FY27, making this a forward-looking management statement rather than a reported H1 contribution.

Which capabilities and markets has Fusion CX acquired?

Fusion CX's presentation lists 15 dated acquisition entries from HelpDeskNow in 2007 to impacx in 2026. Its stated approach is to buy businesses that add capabilities in customer acquisition, onboarding, order fulfilment, know-your-customer, or KYC, fraud prevention and technical support. The list shows transactions across North America, Latin America, Africa, Asia-Pacific and Europe.

In 2026, Fusion CX also acquired VAP, described as an entry into Australia with Philippines operations. In 2025, skycom added delivery centres in San Salvador, El Salvador; scribe.ology marked entry into medical scribing and documentation; and Sequential Tech added centres in the United States, India and the Philippines, with telecom and payer operations. The presentation does not quantify revenue from any of these acquired businesses.

Earlier transactions extended onshore and nearshore delivery. S Communications LLC, acquired in 2024, added US telecom and energy delivery, while RCC BPO added Latin American nearshoring run from Belize. Ameridial in 2019 marked Fusion CX's entry into US healthcare CX, SupportSAVE in 2018 added a Kingston, Jamaica centre, and Vital in 2016 added a San Salvador centre.

Fusion CX also lists BoomSourcing in 2022 for sales technology, alongside Teleserv Asia and new Navi Mumbai and Howrah centres; ACG Competent Telecom in 2021 for onshore telecom and emergency services; and Phoneo in 2020 for a Morocco delivery centre. The remaining named transactions are Phocus Contact Solutions in Canada in 2013 and O'Currance Inc. in 2012, showing that the acquisition programme predates the FY24 to FY26 revenue growth period.

How does Fusion CX's network support the strategy?

Fusion CX operates 42 delivery centres in 14 countries, supports 28 languages and has two sales offices. Its headquarters are in Norcross, Georgia, and Kolkata. The delivery network spans the United States, Canada, Jamaica, Belize, El Salvador, Colombia, India, the Philippines, Morocco, Albania, Kosovo and Germany, with sales offices in Melbourne and Reading.

Customer geography remains concentrated in the United States and Canada, which accounted for 81.0% of Q2 FY27 revenue. India accounted for 9.9%, Australia and others for 4.8%, and Europe, the Middle East and Africa for 4.3%. The impacx transaction therefore adds German delivery capacity to a business whose disclosed customer revenue is primarily from North America.

Telecom and utilities was Fusion CX's largest industry vertical at 39.2% of Q2 FY27 revenue, followed by BFSI at 18.2%, high-tech, travel and other at 16.1%, healthcare at 14.5% and retail at 12.0%. The telecom weighting is consistent with acquisitions including Sequential Tech, S Communications LLC and ACG Competent Telecom, while scribe.ology and Ameridial added healthcare-related capabilities.

Fusion CX's top five clients represented 36.5% of Q2 FY27 revenue and had an average relationship length of 13.0 years in FY26. The top 10 represented 48.9% of Q2 FY27 revenue and had an average relationship length of 11.5 years. The presentation does not identify these clients or state whether any entered through acquisitions.

Conclusion

Fusion CX's H1 FY27 result shows a higher organic growth rate of 12.7% than the 12.0% reported in FY26, alongside lower inorganic growth of 7.7% and total growth of 20.4%. The impacx acquisition adds a new German market, two delivery sites, about 250 employees and listed AI-related technology assets within a 15-entry acquisition history.

The next disclosed point to watch is management's expectation that acquired entities will add to inorganic growth in H2 FY27. Investors can also monitor whether health plans, AI data and telecom continue to provide the strongest traction cited for H1 FY27, and whether the German sites and impacx's nearshore partnerships contribute to Fusion CX's delivery mix.