Speaker #1: Available on the stock exchange, in case anyone does not have a copy of the same. Please do write to us; we'll be happy to send it over to you.
Speaker #1: To take us through the results of this quarter, we have with us 3 co-founders: Mr. Avinash Shetty, Mr. Siddharth Setty, and Mr. Mitesh Bora.
Speaker #1: We will be starting the call with a brief overview of the company's performance, and then we will allow the Q&A session. Kindly ask your questions by raising your hand, and the brief overview where Avinash is over.
Speaker #1: And then we will address all the questions one by one. I would like to remind you all that everything said on this call that reflects any outlook for the future can be considered as a forward-looking statement and must be used in the conjunction with the uncertainty and the risk that we face.
Speaker #1: These uncertainties and risk are included but not limited to what we have mentioned in the prospectus filed with the SEBI and subsequent annual reports.
Speaker #1: With the said note, I turn over the call to Avinash over to Avinash.
Speaker #2: Thank you, Surabhi. Thank you, everybody, for joining this call. I know it is market hours, but you know, results were out yesterday. And we wanted to, you know, cover the report today itself.
Speaker #2: So, please go to the slide deck. So, Infobeans is a company always believe in investing in the latest and greatest of the technologies available at the time.
Speaker #2: And we've been investing heavily in the AI capabilities and the biggest news of this quarter, in my mind, is that we've got Claude Select services partner status from Anthropic.
Speaker #2: And we have more than a dozen certified Claude developers and a couple of forward-deployed engineers who are certified with us. So that gives us enormous power and strength to go to our customers and deploy Anthropic's solutions or AI solutions at their business to improve their capabilities and efficiencies of the business.
Speaker #2: So the goal, if you look at the slide I'm assuming it is visible to all of you, we are present across the four geographies, three are the major markets: US, Middle East, and Europe.
Speaker #2: And we have development centers in India in Indore, Pune, Chennai, and Bengaluru. This is a quick roadmap of the transformation journey over the years.
Speaker #2: We've been in business for 26 years now, incorporated in 2000. You know, we achieved our first milestone of 4 crores in 2007, and within 8 years in we in 2015 we kind of reached 10x.
Speaker #2: And then from 2015 to 2023 we kind of reached again a little less than 10x. At 399 crores, we acquired a couple of companies between 2019 and 2021.
Speaker #2: And before that we went public in 2017, on the SMEs platform, and then moved to the main platform, the main on 2019. We onboarded Farish Murthy as our advisor to the board in 2024.
Speaker #2: It's more than 2 years now. Opal Perry joined us as an independent director in 2025. And we had our second buyback and a bonus in 2026.
Speaker #2: This is a quick numbers at a glance. One of the biggest strengths of Infobeans is that we have 50 large enterprise clients even at this size.
Speaker #2: We have a very small company in the entire IT landscape in India, but despite that we have Fortune 500 customers and Fortune 100 customers.
Speaker #2: Which is part of our direct relationships. More than 94% of these clients come back from our work every year, and that's again a very important strength and a moat if you want to call that.
Speaker #2: We've been investing heavily on the AI and our software development exercises very, very AI-enabled for the most part. We have done 2 successful acquisitions as I mentioned, 2019 and 2021.
Speaker #2: One was a cross-border acquisition of philosophy group INC, and second was a Salesforce Platinum partner from Pune College Eternal Solutions. We did 2 buybacks in 2021 and 2025.
Speaker #2: 2021 was a was at a 4 times of the IPO price, and 2025 was 8 times of the IPO price. Last year financials we we had a good run.
Speaker #2: Good revenue growth versus you know good improvement in the margins both on the PAT and the EBITDA side. Significant amount of cash and cash equivalents in as a reserves in the company.
Speaker #2: And we've been growing at 23% CAGR since 2021. As I said, you know, all of these partnerships and certifications, I think the most important one is Cloud Partner Network as of now.
Speaker #2: This is where our global service offerings are. AI-led engineering across the organization. And Salesforce and ServiceNow are the 2 technology platforms that we focus on because both of these are being used by large enterprise customers.
Speaker #2: And it it's kind of a segue into those clients for us once we get into get in get get an entry inside these organizations using Salesforce and ServiceNow practices.
Speaker #2: We aim to focus on BFSI as a strong vertical for us because we have a dozen clients in the BFSI space. And same with storage and virtualization as another vertical space that we have.
Speaker #2: A quick snapshot on the team. The 3 founders here. Avinash, Mithil and Siddharth. And we have our independent directors, Opal, Mayuri, and Sumeesa. Sumeesa has retired by tenure in the month of September.
Speaker #2: So he'll be retiring he's already retired now. Very, very strong engineering team and, you know, long timers at Infobeans. Amit Makhija is almost 2 decades with Infobeans.
Speaker #2: Dennis is almost 5 years now. Kanan, again, more than 2 decades. Kanupriya and Harprit. Very key people in terms of sales and client success.
Speaker #2: These are the people who hold the Ford for us in front of the client. Ram Gitanjali, Manish and Tarulata in different geographies. Quick snapshot of our clients.
Speaker #2: Most of the clients prefer not to name them, and therefore we have to put it under NDA. If you look at the NDA lot here, Fortune 200 company, Fortune 500 company, another Fortune 500, another Fortune 500 German company, so multiple such clients that we've been working with.
Speaker #2: And most important factor here is the the their average age or average age of the relationship with these clients for Infobeans is more than 9 years now.
Speaker #2: And, you know, ILM is a client which is with us for more than 22, 23 years now. IQVIA is for more than 18 years now.
Speaker #2: So very, very long relationships is is another moat for Infobeans as a company. Quick financial snapshot here. We have grown 28% YOY on the total revenue from 129 to 165.
Speaker #2: On EBITDA side we have grown 14%, and on PAT side we have grown 16%. On the USD terms we have grown 22% YOY. Remaining was INR appreciation.
Speaker #2: Dollar appreciation against INR. On the quarterly basis also I'm happy to announce that we have grown at 6% Q on Q, which is quite a good growth in the current market situation.
Speaker #2: And EBITDA also has grown 14% and PAT has 21% Q on Q as well. Since we are closing our half-yearly results here, you know, there's a good comparison quick comparison on H1 to H1 of last year.
Speaker #2: Note that the last year H1 had about 6.3 crores of ERC employee retention credit from the US government, which is an extraordinary income which we have for the comparison here we have removed from the numbers.
Speaker #2: And if you look at it, H1 to H1 we have grown 30%. And EBITDA 18% and PAT at 22%. In USD terms the growth was 22, similar to the quarterly number.
Speaker #2: Similar numbers in different presentation. PAT margins at 16%. We are happy with it. I know the 1% drop was probably because of the I mean, as I said, we typically I keep telling every quarter that we typically aim for 24% EBITDA margin and 15% PAT margins.
Speaker #2: 14 to 15% PAT margins. So we are very, very happy at these numbers. Reduction does not, you know, tell us anything here because that's where the targets are.
Speaker #2: And one important factor is a 7 quarters of sequential operating revenue growth of 6% over 6% quarter on quarter for last 7 quarters. So that's a that tells us that we are in a momentum which is sustained and we're growing constantly quarter over quarter for last 7 quarters in a row.
Speaker #2: A little bit more detail here. Revenue from operations other income. If you look at it, the other income dropped by 2 crores. But the revenue from operations has grown by 8 crores.
Speaker #2: Sorry, 10. June should be on this side. Okay. So it it is by 10 crores. And other income dropped by 1 crore quarter on quarter by 2 crores on a year on year basis.
Speaker #2: And the other income component was mostly because of the RBI increasing the rates. Our treasury is mostly holding corporate held in corporate bonds and government securities.
Speaker #2: So the yield disturbs the IRR. But since we will hold it till maturity, you know, it is it is just a notional loss for us.
Speaker #2: Total revenue grew from 130 to 166 on a YOY basis. And EBITDA grew from 36 to 41 crores. EBITDA margin comes back to the steady state number.
Speaker #2: Last quarter it was 23. This quarter it is 24%. So we have good growth here. PAT margins have improved from 14% to 16% Q on Q.
Speaker #2: From 22 to 26 crores. The continued investment AI capabilities and we continue to build our sales capabilities across all the 3 geographies. So that is going to be investment which might put a pressure on the margins in future as well.
Speaker #2: But that's totally okay because, you know, we are building and investing there. We are investing in building the business. A quick balance sheet snapshot here.
Speaker #2: Most of the money as a profits got added up into the reserves. So some movements because of dividend, because of, you know, amortization, and so on.
Speaker #2: Typical business scenario. Revenue breakup USA we kind of balancing it very fairly well. USA is now at 49%. Europe is at 40%, which is a good counterbalance to the challenging macro environment posed by the Trump government.
Speaker #2: UAE at 8%, which is kind of a steady state. Rest of the world, including India, is about 3%. So good momentum in the European market for us.
Speaker #2: AI update I mentioned earlier. We got this cloud select services partner just last 2 weeks ago. And we are also ISO 42001 certified for AI practices.
Speaker #2: A lot of these engineering products are at are used as a accelerator for our clients. This is a showcase and door opening strategy for us.
Speaker #2: We use these tools to showcase our capabilities to the client. Awards for the 10th time we have nominated as a best employer award. Best employer brand by Asia.
Speaker #2: In Asia. And Ecovadis is a very reputed sustainability rating which is important for us in today's context because every new RFP is asking for your our ESG ratings.
Speaker #2: And Ecovadis is a is a very reputed rating institution. And we got a bronze medal which means that we are ranked in top 35 globally 35% globally across our ESG practices.
Speaker #2: We also take our CSR activity very seriously. And that is where we have instituted this InfoBeans Foundation under which we run an ITEP information technology excellence program where we train underprivileged youth to become software engineer within a period of 1 year.
Speaker #2: And after that they are successfully placed in IT companies across Indore and Pune. This is the so we have 2 more 2 objectives. Education for for employment.
Speaker #2: And you know, sustaining the green cover of the Mother Earth. So we do plan trees every every year in the monsoon season. At the same time we have trees planted for birthdays of our team members.
Speaker #2: So that's a scheme that we have and therefore we have every quarter we would have significant number of trees planted across the country. Mostly around Indore and Pune region.
Speaker #2: Quick market data as of 30th September. You know, the market price is 143 and the market cap was 1391. We I'll open it to Surbhi for question and answer.
Speaker #2: Surbhi and Kunal, please continue and you know, let's open the forum for question and answers.
Speaker #1: So thank you everyone. We will now begin the QA session. Participants are requested to use the raise hand feature we will allow you to talk.
Speaker #1: You can unmute yourself and ask your question. We further request you to limit yourself to 1 question at a time. You may rejoin the queue for the follow-up questions.
Speaker #1: We would be happy to take them if the time permits. Thank you. So first question is coming from the line of so the first question is coming from the line of Keshav Karwa.
Speaker #2: Can we ask them to type it if you're not able to hear me? Type it in the chat box please.
Speaker #1: I would request the participant to please type their question. We'll take it.
Speaker #2: Yes. So first question is from Mr. Mihir Dhami. Mihir, please unmute yourself and ask your question. Mihir, please unmute yourself and ask your question.
Speaker #3: Yeah. Thank you for the opportunity. Congrats on the great result. I wanted to ask where are you all doing traction currently? How are you all able to report such great growth?
Speaker #3: Which what which industries are doing well for you currently?
Speaker #2: So we we've worked across multiple industries. As I mentioned, BFSI manufacturing, logistics, HR, we've seen growth across all the segments. So there's it's hard to find a typically it's hard to put a finger to a particular industry.
Speaker #2: We're growing well across all our clients. So not not much of a challenge. I think except for healthcare compliance, we're not seeing any worry sign.
Speaker #3: Okay. Also, how much was the net hiring for the quarter and what are your plans for hiring for the year?
Speaker #2: So we continue to add you know skills across the board since we are seeing good demand with 30% growth rate our hiring net addition would be in the range of about I would say 10 to 15%.
Speaker #2: So the revenue growth is not really mapping up exactly to the headcount that it used to be. So definitely it's kind of an indicator that we're using AI to improve our efficiency and optimize our delivery efforts.
Speaker #2: The net number if I were to tell you is about 43 net addition that we added in this quarter. On a base of 1800 plus which is like about you know what is it 10 much like 2 3 how much it is 43 5% 5%.
Speaker #3: Less than.
Speaker #2: Less actually 3 4%.
Speaker #3: Okay. And also can you give us an idea of the deal wins you all have had recently for the quarter or last one year?
Speaker #2: There is I mean we don't disclose these individual client deals or the size of the deals. That's not a practice that we've been following.
Speaker #2: And as I said we typically I think there's a press release also where we mentioned that there are 3 clients that we've won. 2 from the US market, 1 from the Indian market.
Speaker #2: And typically for a services company like ours the deal size at the start is very small. It's it's a it's a first step towards building the trust and relationship between the 2 parties.
Speaker #2: And you know it is eventually and gradually that we generate significant business as a repeat business from these customers. So you know deal wins is irrelevant in our context.
Speaker #3: Okay. And one more thing you mentioned about the cloud.
Speaker #2: Mihir I'll request you to come in back in the line please.
Speaker #1: Yes. Thank you Mihir. Next question is coming from the line of Mr. Hitesh. Hitesh please unmute yourself and ask your question.
Speaker #4: Hi. Am I audible?
Speaker #2: Yeah Hitesh.
Speaker #4: So sir I have a couple of questions. Actually I want you to understand like what changes this AI is bringing we know there there are a lot of changes and it's happening on the daily basis.
Speaker #4: How you are changing yourselves what capabilities are you building around AI and to grow with the AI and how industry landscape is changing with this.
Speaker #2: Mitesh would you like to take this please?
Speaker #5: Yes. Hitesh are you able to hear me okay?
Speaker #4: Yes I can hear you.
Speaker #5: Okay. Thank you so much for your question Hitesh. AI landscape continues to change and almost feels unrecognizable from 2025. If you look at 2026 and for us our goal has always been to look at where our clients need the real help.
Speaker #5: Now the the usuals which is utilization of the frontier models to do bulk of the actual engineering work keeping design keeping architecture intact keeping quality assurance and the process intact but large part of the software development we can continue to build using such models.
Speaker #5: So that's one factor that doesn't change much. So we continue to develop capabilities in and around how to best utilize that. So that's one.
Speaker #5: The second big evolution that we have seen this year is utilization of agents in actual enterprise environments. Or what you call the agent tech enterprise going forward.
Speaker #5: And deployment of agents in scenarios where simple support such as for example an L0 or an L1 could be removed. Again this is just an example or a contact center situation.
Speaker #5: Or software that is scheduled there is automation that can be used. So enterprises have been now increasingly starting to see the value that comes from agents that get deployed in their environment.
Speaker #5: Of course there are a lot of issues and challenges that have emerged also the likes of governance you know their concerns around data privacy their obvious concerns around cost you might be hearing a lot of that.
Speaker #5: We are constantly building capabilities and expertise in and around all of that. Today I was talking to somebody in San Francisco there is so much conversation that is happening around multi-agent systems which is a very natural progression in a lot of organizations and there is a lot of talk about how context how coordination can be utilized as efficiency levers going forward to ensure both accuracy and cost are are maintained because these are very important considerations for enterprises.
Speaker #5: So this is something that we keep focusing very heavily on. At the end of the day it is about solving problems for our customers and utilizing technology in the best possible manner that's how we go about it.
Speaker #5: I hope that answers your question.
Speaker #4: Yeah that's pretty much I was looking what I was looking for. One more question I have. Like how we see going forward changes in pricing are are we feeding any pricing pressure from the customer end or industry wise I mean we are moving from to outcome based pricing to and is does it impact the I I'm sure it it does not impact the amount of work but does it impact our top line in some way does it hamper?
Speaker #2: So that you want to take this?
Speaker #5: Yeah okay. So no it does not hamper our top line in any way because we keep on getting more work. As Avinash pointed out earlier our net addition is much lower than the growth in revenue.
Speaker #5: So that is some kind of an indication of the the the the lack of pricing pressure so to speak and even then our profit increases.
Speaker #5: So there is no such pricing pressure that we see right now. I think what is more important to the customer is how much value are we adding using AI without AI whichever way we go the customer is trusting us banking on us to provide solutions to solve their business problems.
Speaker #5: We're also using AI internally to increase our efficiencies. So for example our internal evaluation process which used to take a few weeks 2 or 3 weeks is now completed in a matter of days because we've built internal systems that help us do our performance appraisals you know very quickly very fast.
Speaker #5: It was a very tedious and cumbersome process. Similarly on our sales side and marketing side we are able to use AI very effectively without rapidly increasing the sales or marketing team for our outreach for our email campaigns our marketing campaigns our social media campaigns.
Speaker #5: So all of those things help us in increasing efficiency reducing overall cost and even then keeping our margins intact and increasing revenue. So I think the numbers speak for themselves in terms of you know pricing lack of pricing pressure.
Speaker #2: Yes. So thank you Mr. Hitesh. You can rejoin the Q if you have follow-up up questions.
Speaker #4: Yeah yeah just all the best to the management and.
Speaker #5: Thank you Hitesh.
Speaker #4: Good. Yeah.
Speaker #2: Yeah thanks. So next question is coming from the line of Mr. VP Rajesh. Rajesh please unmute yourself and proceed with your question. Mr. Rajesh you need to unmute yourself and proceed with your question.
Speaker #4: Okay but guys.
Speaker #3: Hey VP how are you? He's unable to unmute.
Speaker #2: He is unmuted. Rajesh you are already unmuted. You can proceed. We can hear you. Okay. So let's take the next question. Next question is from Sumuk.
Speaker #2: Sumuk please unmute yourself and ask your question.
Speaker #4: Hi team. Am I audible?
Speaker #3: Yes Sumuk.
Speaker #4: Yeah. Congratulations on a very good quarter.
Speaker #3: Thank you.
Speaker #4: So I have two questions. One is on the 99 crores which was which has been capitalized in H1. Which was intangible which was at work.
Speaker #4: So regarding that and also the 8 crores loan that was given to the director right. Can you please you know give us more understanding on both of these line items.
Speaker #3: So what was the first question if you can repeat?
Speaker #4: So one is the capitalization of intangibles of 9 crores.
Speaker #3: Yeah yeah.
Speaker #4: So okay.
Speaker #3: Yeah. So we've been developing a certain accelerators in the system. And there's always this lag in revenue generated by those actually it's these are products.
Speaker #3: So there's a product called a stanza. There's a product called a bean trail. And we've been investing in these products. So the capitalization is towards the effort that is going to you know go and the revenue is going to come later.
Speaker #3: So we capitalized it. And revenue started coming in. So we've started to you know start amortizing it. That's one. The second part is the director loan.
Speaker #3: So we have a policy in the US where the employees can get a loan of up to a million dollars. And since Nitesh is also a director and an employee of Infobeans INC so he availed that facility and it was a I would say a 3-4 month period between which it was repaid as well.
Speaker #3: So there was an interest bearing loan that was given to him and under all the norms that we have followed that is a practice.
Speaker #4: Thank you. And one more question is this 22% constant currency growth. So how much of it could be attributable to growth from existing clients and how much from new client when that has happened over the last two quarters?
Speaker #3: So you're talking about a quarter on quarter growth right. 6%.
Speaker #4: The 20 22% year one why? Yeah yes yes.
Speaker #3: Okay. So the why why growth I would say typically every year we have more than 90% business coming from the existing clients. The remaining client business comes from the new clients.
Speaker #3: Now in a services environment what we sell is trust. And trust takes its own time to get built over the years. So typically the first quarter would have a lesser share of revenue from a new client.
Speaker #3: Versus the let's say sixth or seventh or eighth quarter. So that client journey grows eventually from you know first quarter to you know fourth fifth quarter to eighth quarter to ninth quarter.
Speaker #3: And and we have a history of clients that you know stays with us for you know multiple decades. And that is where the value comes for us where we continue to keep generating value you know margins and better business from each of these clients over year over year.
Speaker #3: So it's a nature of the services business that takes its own ramp up time. For a new client. And having said that we continue to make our sales efforts in a way that we strike multimillion dollar deals on day one.
Speaker #3: And it it takes its own time you know anywhere between 6 to 12 months to get to a closure for such clients and such deals.
Speaker #3: Let me also tell you that we focus on large enterprises. Which has its own you know nuances to navigate to reach to a level where we can get to the dotted line.
Speaker #3: So it takes its own time and process to get there. But despite that not everybody is willing to you know sign a multimillion dollar deal on day one.
Speaker #3: So they they take their you know they start with small work and then build successively from there.
Speaker #2: Thank you Sumuk. You can rejoin the queue for the follow up question. Mr. Rajesh please try and unmute yourself and ask your question. So Rajesh if you are facing any difficulty with your mic you can put your question in the Q&A box.
Speaker #2: By the time we will take the next question. Next question is from Mr. Dhanvith. Dhanvith please unmute yourself and ask your question.
Speaker #4: Hello sir. Am I audible?
Speaker #3: Yes sir.
Speaker #4: Yes I think so. I already put it in the chat chat also. I had a question with regards to our revenue and EBITDA kind of growth we are targeting for the revenue and EBITDA we are targeting for the full year.
Speaker #4: And what kind of growth can we see going forward? I understand that you talk spoke a lot about relationship but it is more in the back right now going ahead with the changing times does still it affects how much growth we are going to get in this changing time?
Speaker #3: See we we don't give the forecasting and the you know I would say forward looking numbers. But what we are seeing in the market today is there's a sustained growth momentum for us.
Speaker #3: We continue to have a good healthy order pipeline. And healthy demand so hiring continues our you know AI training continues our relationship our projects continues.
Speaker #3: So we we are finding good as I said sustained momentum at this point.
Speaker #4: Okay. And I had a next question is with regards to the situation in the US. It is becoming a little bit challenging for companies to do business over there.
Speaker #4: Due to certain visa norms and all. So what kind of a different spread are we looking at? Are we trying to expand into other geographies?
Speaker #4: And going forward the 49% which we have currently can that be further reduced? Through diversification?
Speaker #3: See is a is a company our focus will be to increase our US revenue share. US is is a very big market. And we've been in business with the US for 26 years now.
Speaker #3: So we would certainly want to expand more in the US because we have a very large repensible client list also. That's point number one.
Speaker #3: The the other point is you know we are still a micro company and the macro environment that we hear in newspapers and media you know do not really affect us on either side.
Speaker #3: On the bad side or the good side. What works for us is the relationship that we carry with our clients and the kind of demand that they see.
Speaker #3: In their own businesses. So I don't think these macro factors are you know negatively affecting us. The third point I had to talk about was the visa.
Speaker #3: So we are not I mean from day one we have not been dependent on H1B visas we have always been offshore heavy. And bulk of our revenue is through our delivery centers delivered through our delivery centers across India.
Speaker #3: So even if you look at today out of this you know almost 1900 people team you would have less than 50 people across all the three geographies.
Speaker #3: Which is very insignificant in the entire equation and therefore you know there was this H1B restriction four five years ago and here you know it is make made extremely tough by the Trump government.
Speaker #3: But it doesn't really affect us because we are not a visa dependent business.
Speaker #4: Okay. Thank you sir. I'll get back in the queue.
Speaker #3: Thank you.
Speaker #2: Thank you Dhanvith. Thank you. So Rajesh unfortunately your mic is not working but I will convey your message to founders and I'll ask your question.
Speaker #2: So Avinash Rajesh is seeing congratulations to us for the numbers for this quarter. And he has a question that cash has gone up significantly and second question is any update on the MNF fund?
Speaker #3: Yes we are cognizant of the fact it's a good and a bad news whether it's cash is getting accumulated in the business. That's a good news.
Speaker #3: Yes we are we are in the process of constantly scouting for the right target. And thankfully I think in the last quarter there were a good number of I would say leads for the targets which are suitable to our you know.
Speaker #3: So let me also tell the audience here that we have a very strict acquisition criteria and you know it was only in I would say in last few months that I was seeing some good fitments as a part of the lead generation effort on the MNF side.
Speaker #3: So I yeah I think we continue to make that effort. It's it's a it's a sales kind of a situation you know HRMS you don't know.
Speaker #3: You can't even predict until it is signed. So yes the efforts are on. I'll I'll for the benefit of the audience I'll quickly narrate what we are looking at.
Speaker #3: We are actively looking at ServiceNow companies or AI and data companies in a you know 5 to 15 million dollar revenue range. With overseas customers and delivery in India.
Speaker #3: So this is the kind of filter that we have applied and any deal that comes to us through any banker has to meet this filter before you know it even gets there.
Speaker #3: So so it takes it's you know so the filters are high and but as I said there are leads coming in. Now are we in a serious discussion or you know at a closure stage?
Speaker #3: You know difficult to say unless it is done. Once it is done we will announce it to the board on the NSC. NBSC board.
Speaker #3: So yeah I think once the term sheet is signed or you know there is a progress which is a tangible progress we will announce it.
Speaker #3: But until then it's very difficult to predict anything. But yes we are aware of the cash position and certainly want to make good use of the cash towards building the business.
Speaker #3: We let me also add here for the benefit of the investors here that as a company we are firm believer of using the capital to reinvest and grow the business.
Speaker #3: We have been doing it every year for last 26 years. We are not a dividend we are not a company that you should look at for dividend yields.
Speaker #3: We pay dividends. We do buybacks as and when needed. But it's not a active strategy for us to give the cash back to the investors.
Speaker #3: We would rather use it to build the business and navigate the challenging times that is posed ahead of us by investing in AI and you know being more aggressive on the sales side.
Speaker #3: So we want to generate better value out of the business rather than return the cash.
Speaker #2: Yes. Thank you. So we have some question in chat box. So most of them are asking that why the trade receivables has increased.
Speaker #3: Some some pressure of the you know client ends. Where and then some of the clients actually change their terms also. So from 60 days to 90 days.
Speaker #3: And some of the clients have been delaying their payments. But these are long standing clients so we know that it is not a risk.
Speaker #3: Despite that we make provisions in our books. So we are well covered in that sense. But yes we are confident that all of these delayed receivables will be received fairly quickly.
Speaker #3: We are at it. We are chasing it constantly.
Speaker #1: Also I believe some of the increase in receivable would also be a function of growth.
Speaker #3: That's correct. That's also you know contributing to it.
Speaker #2: So Dhanvith do you have a follow up question? If you have you can unmute yourself and ask your follow up question. Mr. Dhanvith you can unmute yourself if you have a follow up question.
Speaker #4: I don't have any follow up question. It was an older question which had posted in the chat box. That was the same question.
Speaker #3: Alright. Thank you Dhanvith.
Speaker #2: Yes.
Speaker #3: Thank you everybody for your time and interest and Infobeans. We appreciate your support and we look forward to you know more such good quarters.
Speaker #3: Thank you so much.
Speaker #1: Thank you.
Speaker #2: Thank you everyone and now you may disconnect your lines.
