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Compucom Software Ltd

| Quarterly Financial Results Q3 FY 2025-26

NEUTRAL SENTIMENT

Report Source

⬤7th Feb 26

Summary : Compucom Software Limited reported positive nine-month profits, but a Q3 consolidated loss, with a newly operational hotel segment yet to achieve optimal revenue efficiency, while navigating new Labour Code impacts.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Standalone Q3 FY26 Total Expenses: 838.76 lakhs, including Employee benefits (118.87 lakhs), Finance costs (92.57 lakhs), Depreciation (147.54 lakhs), Learning Solution Execution Charges (342.18 lakhs), Other Expenditure (137.60 lakhs).
  2. Consolidated Q3 FY26 Total Expenses: 1,022.13 lakhs, including Employee benefits (174.33 lakhs), Finance costs (93.32 lakhs), Depreciation (151.89 lakhs), Learning Solution Execution Charges (225.05 lakhs), Other Expenditure (377.54 lakhs).
  3. Exceptional Items (Standalone Q3 FY26: 41.05 lakhs, Consolidated Q3 FY26: 45.88 lakhs) related to new Labour Codes.
  4. Standalone Q3 FY26 Total Income: 801.31 lakhs (Operations) + 113.00 lakhs (Other Income) = 914.31 lakhs.
  5. Consolidated Q3 FY26 Total Income: 895.73 lakhs (Operations) + 155.20 lakhs (Other Income) = 1,050.93 lakhs.
  6. Segment Revenue (Standalone Q3 FY26): Software & E-Governance Services (49.17 lakhs), Learning Solutions (734.24 lakhs), Wind Power Generation (3.81 lakhs), Hotel (14.09 lakhs).
  7. Paid-up Equity Capital: 1,582.50 lakhs (Face Value Rs 2/- each).
  8. Reserve excluding revaluation reserve (as per previous year): 12,423.66 lakhs (Standalone) and 12,470.69 lakhs (Consolidated).
  9. Consolidated results include Compucom Software Limited (Parent) and its wholly-owned subsidiary CSL Infomedia Private Limited.
  10. Consolidated revenue is higher than standalone, but consolidated profit before tax for Q3 FY26 is negative (-17.08 lakhs) compared to standalone positive (34.50 lakhs).

Corporate Overview

  1. Revenue from the newly operational hotel segment is expected to take time to achieve optimal efficiency.
  2. Assessing the financial impact of new Labour Codes (Code on Wages, Industrial Relations, Social Security, Occupational Safety, Health and Working Conditions) is ongoing.
  3. Compucom Software Limited operates in Software & E-Governance Services, Learning Solutions, Wind Power Generation, and Hotel segments.
  4. The leadership acknowledges the hotel segment is operational but expects revenue optimization to take time, indicating a cautious yet forward-looking approach.
  5. Software & E-Governance Services
  6. Learning Solutions
  7. Wind Power Generation
  8. Hotel
  9. Others
  10. The hotel segment became fully operational during the quarter ended December 31, 2025.
  11. The hotel segment has recently become fully operational, implying recent capital expenditure and expansion.

Risk Factors

  1. Latest quarter consolidated profit is negative.
  2. Hotel revenue taking time to optimize.
  3. Uncertainty from new Labour Codes.
  4. Asset/liability allocation not practicable.

Key Drivers

  1. Hotel segment now fully operational.
  2. Strong growth in Learning Solutions revenue.
  3. Positive nine-month consolidated profit.
  4. Clarity on new Labour Codes.

Auditor’s Report

  1. The auditors do not express an audit opinion; it is a limited review report.
  2. The limited review found nothing to suggest that the financial statements contain any material misstatement or have not disclosed required information.

Board Commentary

  1. Uncertainty regarding the financial impact of the new Labour Codes.
  2. Time required for the newly operational hotel to achieve optimal revenue efficiency.
  3. Government of India notified four new Labour Codes, requiring assessment of financial impact.
  4. Compliance with SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.
  5. The hotel segment became fully operational during the quarter ended December 31, 2025.

Corporate Governance

  1. The Audit Committee reviewed the financial results.

Management Discussion & Analysis

Future Strategy

  1. Strategy includes optimizing the newly operational hotel segment for revenue efficiency.
  2. Monitoring the finalization of Central/State Rules for new Labour Codes to assess and implement financial impacts.

Operational Focus Areas

  1. Achieving optimal revenue efficiency from the newly operational hotel.
  2. Monitoring regulatory changes related to new Labour Codes.

Performance Drivers

  1. Learning Solutions is a significant revenue driver for the company.
  2. Software & E-Governance Services also contributes substantially to revenue.

Risk Control Measures

  1. The company is actively monitoring the finalization of Central/State Rules and clarifications regarding the new Labour Codes to provide appropriate accounting effect.

Critical Risks

  1. Financial impact and compliance requirements of the new Labour Codes.
  2. Delay in achieving optimal revenue efficiency from the hotel segment.