SRIT India: Government Clients Supplied 89% as E-Governance Rose

SRIT India generated Rs 402.343 crore, or 89.41%, of Fiscal 2026 revenue from Government customers, while electronic governance produced Rs 307.755 crore, or 68.39%, of revenue from operations. The disclosures show that growth was led by digital-governance work rather than equally distributed across healthcare, telecommunications and broadband.

How dependent was SRIT India on Government clients in Fiscal 2026?

SRIT India was dependent on Government customers for nearly nine-tenths of Fiscal 2026 revenue. Government customers contributed Rs 402.343 crore of the company’s Rs 449.999 crore revenue from operations, compared with Rs 355.633 crore, or 91.34%, in Fiscal 2025. The Government category includes central, state and local government departments, public-sector entities and institutions that buy products or services for administrative, infrastructure or public-service purposes.

The Government share fell by 1.93 percentage points from Fiscal 2025, but it remained above the 81.84% reported in Fiscal 2024. Government revenue increased by Rs 46.710 crore from Fiscal 2025, whereas enterprise revenue rose by Rs 13.942 crore to Rs 47.656 crore. This mix means continued revenue concentration depends substantially on project awards, execution and revenue booking from public-sector customers.

Enterprise customers supplied 10.59% of Fiscal 2026 revenue, compared with 8.66% in Fiscal 2025 and 18.16% in Fiscal 2024. Enterprise revenue was Rs 49.220 crore in Fiscal 2024, then declined to Rs 33.714 crore in Fiscal 2025 before recovering in Fiscal 2026. The source defines enterprises as businesses and customers that are not included in the Government category.

Why did e-governance become SRIT India’s main revenue stream?

Electronic governance became SRIT India’s main revenue stream because its revenue grew faster than either telecommunications and broadband or healthcare. The vertical generated Rs 307.755 crore in Fiscal 2026, up Rs 69.119 crore from Rs 238.636 crore in Fiscal 2025. Its share of revenue from operations increased to 68.39% from 61.29% in Fiscal 2025 and 50.13% in Fiscal 2024.

Electronic governance includes technology solutions and system-integration services for digital governance, automation and secure information-technology infrastructure. System integration refers to combining software, hardware and network components into an operating system for a client. SRIT India says its work in this vertical covers e-governance platforms, cybersecurity, enterprise software and integrated digital-service delivery systems for Government customers and enterprises.

One disclosed project involves migrating approximately 15,000 automated teller machines, or ATMs, for a Government of India-owned public-sector bank from very small aperture terminal, or VSAT, connectivity to fourth-generation, or 4G, cellular connectivity. The scope includes centralised network-management software. The narrative describes the project cost as approximately Rs 250.819 crore, while a later project list gives Rs 205.819 crore, leaving the stated value inconsistent within the disclosures.

SRIT India reports that products and services are bundled under relevant project orders, so vertical revenue is not presented as separate product and service sales. Electronic-governance revenue therefore depends on the timing and execution of project-based orders, including design, implementation, maintenance and integration work, rather than on a disclosed standalone software-sales measure.

What changed in SRIT India’s other business verticals?

Telecommunications and broadband remained SRIT India’s second-largest vertical in Fiscal 2026, while healthcare revenue declined. Telecommunications and broadband generated Rs 109.193 crore, up from Rs 91.033 crore in Fiscal 2025, and represented 24.27% of revenue from operations. Its Fiscal 2026 share was nonetheless below the 35.02% recorded in Fiscal 2024, when the vertical generated Rs 94.923 crore.

Healthcare revenue fell to Rs 33.051 crore in Fiscal 2026 from Rs 59.677 crore in Fiscal 2025, reducing its share to 7.34% from 15.33%. The vertical had generated Rs 40.257 crore in Fiscal 2024, or 14.85% of revenue. This changed the revenue mix because electronic governance added Rs 69.119 crore year on year while healthcare declined by Rs 26.626 crore.

SRIT India’s healthcare work includes a centrally hosted health-system and insurance technology stack across approximately 2,200 hospitals and dispensaries on a pan-India basis, with an approximate project cost of Rs 83.538 crore. Its telecommunications and broadband work includes a state-wide fibre-network project with an approximate cost of Rs 555.780 crore. These disclosed project costs illustrate the scale of work across the two verticals but are not identified as Fiscal 2026 revenue.

Does SRIT India’s order book support the revenue mix?

SRIT India’s Fiscal 2026 order book was also led by electronic governance, although telecommunications and broadband increased its share. Electronic governance accounted for Rs 690.810 crore, or 58.40%, of the Fiscal 2026 order-book total of Rs 1,182.824 crore. That share was lower than 63.86% in Fiscal 2025 and 65.33% in Fiscal 2024, even as electronic governance’s share of Fiscal 2026 revenue rose.

Telecommunications and broadband represented Rs 449.589 crore, or 38.01%, of the Fiscal 2026 order book, up from 30.73% in Fiscal 2025. Healthcare represented Rs 42.424 crore, or 3.59%, compared with 5.41% a year earlier. The shift means the disclosed pipeline had a larger telecommunications and broadband component than the revenue mix recorded during Fiscal 2026.

Separately, SRIT India states that its outstanding order book was Rs 1,204.717 crore as of June 30, 2026. That figure exceeds the Fiscal 2026 vertical order-book total by Rs 21.893 crore. The disclosures do not reconcile the two amounts or specify whether the difference results from the reporting date, scope or definition of the order book.

What do SRIT India’s operating measures show about project delivery?

SRIT India reported higher revenue alongside more average active orders and higher revenue per active order in Fiscal 2026. Average active orders were 104, compared with 93 in Fiscal 2025 and 120 in Fiscal 2024. Average revenue per active order rose to Rs 4.327 crore from Rs 4.187 crore in Fiscal 2025 and Rs 2.259 crore in Fiscal 2024; active orders are ongoing orders for which the company booked revenue during the year.

Recurring active orders numbered 52 in Fiscal 2026, matching 52 active milestone orders. Recurring orders include annual maintenance contracts and operations-and-maintenance services, while milestone orders are billed as project milestones are completed. This division indicates that both recurring work and milestone-based execution contributed to the 104 average active orders reported for Fiscal 2026.

SRIT India served an average of 65 clients in Fiscal 2026, compared with 61 in Fiscal 2025 and 75 in Fiscal 2024. Repeated clients increased to 48 from 43, taking the repeated-client percentage to 73.85% from 70.49%. Revenue from operations grew 15.58% to Rs 449.999 crore in Fiscal 2026, compared with growth of 43.62% in Fiscal 2025, while profit after tax increased to Rs 43.289 crore from Rs 33.604 crore.

Conclusion

SRIT India’s Fiscal 2026 results show concentration by both customer type and revenue vertical. Government customers supplied 89.41% of revenue from operations, and electronic governance supplied 68.39%, while healthcare’s contribution declined to 7.34%. Telecommunications and broadband remained the second-largest revenue vertical and represented 38.01% of the Fiscal 2026 order book.

The next measure to watch is conversion of the Rs 1,204.717 crore outstanding order book reported as of June 30, 2026, particularly given the unreconciled difference from the Fiscal 2026 vertical total. SRIT India also discloses plans to develop and deploy artificial-intelligence-enabled solutions and pursue power-utility opportunities, including transformer monitoring for a Karnataka power-generation corporation, but it does not quantify the future revenue contribution from those initiatives.