Coreintegra revenue rose, but FY26 profit stayed below FY24

Coreintegra Consulting Services Limited reported revenue from operations of Rs 515.1478 crore in FY26, up 41% from Rs 366.3731 crore in FY24. Coreintegra’s FY26 profit was Rs 4.5113 crore, below FY24 profit of Rs 4.936 crore, as employee benefits and other expenses absorbed more than the increase in total income.

Why did Coreintegra’s revenue growth not restore FY24 profit?

Coreintegra’s FY26 revenue growth did not restore FY24 profit because total expenses rose almost in line with total income. Revenue from operations increased by Rs 112.5391 crore, or 28%, from Rs 402.6087 crore in FY25 to Rs 515.1478 crore in FY26. From FY24 to FY26, revenue from operations increased by Rs 148.7747 crore, or 41%.

Total income, which includes revenue from operations and other income, was Rs 516.299 crore in FY26, compared with Rs 404.3883 crore in FY25 and Rs 368.4429 crore in FY24. Other income declined to Rs 1.1512 crore in FY26 from Rs 2.0698 crore in FY24, a fall of Rs 91.86 lakh. The expansion in FY26 total income therefore came primarily from operations rather than other income.

Total expenses reached Rs 511.044 crore in FY26, compared with Rs 400.2277 crore in FY25 and Rs 362.4647 crore in FY24. Expenses represented about 99% of FY26 total income, compared with about 98% in FY24. Profit before tax and exceptional items was Rs 5.255 crore in FY26, below Rs 5.9783 crore in FY24 despite total income rising by Rs 147.8561 crore over the two fiscal years.

Coreintegra also recorded an exceptional gratuity provision of Rs 55.77 lakh in FY26. Gratuity is an employee benefit provision, and this item reduced FY26 profit before tax from Rs 5.255 crore to Rs 4.6972 crore. The restated statements did not report a corresponding exceptional gratuity provision for FY25 or FY24.

Which costs absorbed Coreintegra’s income growth?

Employee benefits expense and other expenses absorbed more than Coreintegra’s total-income increase between FY24 and FY26. Employee benefits expense rose by Rs 82.0062 crore, from Rs 242.2401 crore in FY24 to Rs 324.2463 crore in FY26. Other expenses increased by Rs 66.568 crore, from Rs 118.32 crore to Rs 184.888 crore over the same period.

The combined Rs 148.5742 crore increase in employee benefits and other expenses exceeded the Rs 147.8561 crore rise in total income from FY24 to FY26. Employee benefits accounted for about 63% of FY26 total expenses, while other expenses accounted for about 36%. A recovery in profit relative to revenue would depend, among other factors, on these cost categories increasing more slowly than operating income.

Finance costs were Rs 15.75 lakh in FY26, compared with Rs 3.58 lakh in FY25 and Rs 4.36 lakh in FY24. Depreciation and amortisation, the accounting expense for allocating the cost of tangible and intangible assets over their useful lives, declined to Rs 1.7522 crore in FY26 from Rs 1.8609 crore in FY24. The Rs 10.87 lakh reduction in depreciation and amortisation was smaller than the growth in the two main operating expense categories.

How did Coreintegra’s profit and per-share earnings change?

Coreintegra’s FY26 profit improved from FY25 but remained below FY24. Profit for the year was Rs 4.5113 crore in FY26, up Rs 1.0507 crore from Rs 3.4606 crore in FY25, but down Rs 42.47 lakh from Rs 4.936 crore in FY24. Profit represented about 0.87% of FY26 total income, compared with about 0.86% in FY25 and 1.34% in FY24.

Profit before tax after the FY26 exceptional gratuity provision was Rs 4.6972 crore, versus Rs 4.1606 crore in FY25 and Rs 5.9783 crore in FY24. FY26 tax expense was Rs 18.59 lakh, comprising current tax of Rs 28.22 lakh and a deferred-tax credit of Rs 9.63 lakh. FY24 tax expense was Rs 1.0423 crore, including current tax of Rs 84.73 lakh and deferred tax of Rs 19.50 lakh.

Basic and diluted earnings per equity share were Rs 5.88 in FY26, compared with Rs 4.51 in FY25 and Rs 6.44 in FY24. Earnings per share measures profit attributable to equity owners divided by the relevant weighted number of equity shares. The FY26 improvement over FY25 did not return per-share earnings to the FY24 level.

What does Coreintegra’s balance sheet show alongside FY26 earnings?

Coreintegra’s total assets increased to Rs 68.5067 crore at March 31, 2026 from Rs 56.8015 crore at March 31, 2025 and Rs 49.958 crore at March 31, 2024. Non-current assets were Rs 24.9619 crore at March 31, 2026, more than double Rs 11.3042 crore a year earlier. Long-term loans and advances were Rs 11.3017 crore, compared with Rs 3.539 crore at March 31, 2025.

Trade receivables, representing amounts due from customers, were Rs 27.4195 crore at March 31, 2026, up from Rs 23.0122 crore at March 31, 2025 and Rs 18.7747 crore at March 31, 2024. The March 2026 receivables balance equalled about 5% of FY26 revenue from operations. Cash and bank balances fell to Rs 11.0795 crore from Rs 20.3361 crore, while short-term loans and advances increased to Rs 3.8064 crore from Rs 1.7533 crore.

Shareholders’ funds were Rs 27.405 crore at March 31, 2026, compared with Rs 22.8937 crore at March 31, 2025. Current liabilities increased to Rs 38.797 crore from Rs 32.8837 crore, including other current liabilities of Rs 31.6346 crore in FY26. Coreintegra reported no short-term borrowings at March 31 in FY26, FY25 or FY24.

Conclusion

Coreintegra’s FY26 accounts show substantially higher operating scale without a matching return to FY24 profitability. Revenue from operations increased by Rs 148.7747 crore between FY24 and FY26, while the Rs 148.5742 crore combined increase in employee benefits and other expenses exceeded the Rs 147.8561 crore gain in total income.

The disclosed items to watch are Coreintegra’s Rs 82.10 lakh capital commitment for comprehensive labour workforce management software and trade receivables of Rs 27.4195 crore at March 31, 2026. The restated financial information does not state when that software commitment will be completed or how the receivables balance will change after FY26.