EverestIMS’ Top Five Customers Generated 76% of FY26 Revenue

EverestIMS reported that its five largest customers generated 76.07% of FY26 revenue, worth Rs 49.54 crore, while its largest customer contributed Rs 19.24 crore, or 29.55%. The disclosed customer mix shows that revenue concentration remained substantial across FY24, FY25 and FY26 despite plans to add customers across several market segments.

How concentrated was EverestIMS’ FY26 customer revenue?

EverestIMS’ FY26 revenue was concentrated among a limited set of accounts: the top five customers generated 76.07%, and the top 10 generated 88.77%. The largest customer alone accounted for 29.55% of FY26 revenue, meaning the remaining four customers within the top-five group generated 46.52% collectively. EverestIMS did not disclose customer names because it had not received consent letters to do so.

The concentration is also visible in the revenue amounts certified by CGSS & Associates LLP, EverestIMS’ statutory auditor, on September 10, 2026. The top five customers generated Rs 49.54 crore in FY26, compared with Rs 57.81 crore for the top 10. That leaves Rs 8.27 crore, or 12.70 percentage points of revenue, attributable to customers ranked sixth through tenth.

Did EverestIMS’ top-five customer share rise or fall?

EverestIMS’ top-five customer share rose to 76.07% in FY26 from 73.80% in FY25, an increase of 2.27 percentage points. It was also 1.82 percentage points above the 74.25% recorded in FY24. In rupee terms, revenue from the top five increased from Rs 33.58 crore in FY24 to Rs 41.73 crore in FY25 and Rs 49.54 crore in FY26.

EverestIMS’ largest-customer concentration moved differently over the same three fiscal years. The top customer generated 40.49% of FY24 revenue, declined to 28.31% in FY25, then rose to 29.55% in FY26. Its revenue was Rs 18.31 crore in FY24, Rs 16.01 crore in FY25 and Rs 19.24 crore in FY26, so the FY26 share remained below FY24 even as the revenue amount exceeded both earlier years.

The top-10 measure was comparatively stable but still represented most revenue: 88.89% in FY24, 86.31% in FY25 and 88.77% in FY26. Top-10 revenue increased from Rs 40.20 crore in FY24 to Rs 48.80 crore in FY25 and Rs 57.81 crore in FY26. The disclosed data therefore show a higher top-five concentration in FY26, while dependence on the single largest customer remained below the FY24 level.

What does EverestIMS sell to these customers?

EverestIMS earns revenue from software products and services, creating several ways for a customer account to generate sales. Software-product revenue includes licences for platforms deployed on-premises, while service revenue includes annual subscription fees for the cloud-based software-as-a-service, or SaaS, platform.

For on-premises products, EverestIMS says the licence fee is a one-time upfront charge on a per-user basis. Additional licence fees may be payable when a customer adds users or buys extra products, and EverestIMS primarily sells licences through channel partners and distributors rather than entering licensing agreements with direct customers. This distribution mechanism matters because the concentration table identifies customers, while much of the licence sales process uses intermediaries.

EverestIMS also charges telecom customers to customise its Operations Support System, or OSS, module and charges annual maintenance for software updates and licence installation. Annual maintenance contracts, or AMCs, cover continuing updates, support and maintenance. For SaaS customers, subscriptions are paid annually and can be purchased directly through the online platform, providing a recurring-fee mechanism distinct from the upfront on-premises licence model.

Can EverestIMS’ growth plan reduce customer concentration?

EverestIMS says it aims to drive new customer sales across government, telecom, mid-sized organisations, small and medium-sized businesses, or SMBs, and large enterprises. The plan includes strengthening and expanding its sales and marketing team as companies adopt cloud services and pursue digital transformation. Customer concentration would decline only if revenue from new or smaller accounts grows faster than revenue from the current leading accounts.

EverestIMS also plans to expand sales within existing customer organisations through additional users, adoption by other departments and cross-selling modules including Asset Management, ITSM, Network Configuration and Change Management, or NCCM, and AIOps. This approach can increase revenue, but its effect on concentration depends on which accounts take up the additional modules. If the top accounts account for most upselling, the top-five share can remain elevated or increase.

The international expansion plan begins with product sales and includes recruiting new partners and hiring sales and customer-service personnel in additional markets. EverestIMS states that it currently has customers in the United Arab Emirates and Malaysia and intends to strengthen markets where it already has channel partners. The disclosure does not provide a timetable, budget or target number of new customers, so the scale and timing of any diversification cannot be quantified from the stated plan.

Conclusion

EverestIMS’ FY26 customer data show that growth was accompanied by continued dependence on a limited customer base: five accounts generated 76.07% of revenue and 10 generated 88.77%. The top-five share increased from 73.80% in FY25, while the largest customer’s 29.55% share was above FY25 but below the 40.49% reported in FY24. The mix of upfront licences, annual SaaS subscriptions, customisation fees and AMC revenue can all contribute to account-level revenue.

The next measure to watch is whether EverestIMS’ planned sales expansion across government, telecom, SMBs, mid-sized organisations and large enterprises changes the disclosed top-five and top-10 shares. Its plans to recruit partners, add sales and customer-service personnel, and cross-sell modules provide a stated path to broader sales, but EverestIMS has not disclosed customer-addition targets or a timetable for reducing concentration.