Nanta Tech guides for 50% revenue growth as robotics-AI mix targets 60-65% of FY27
H2 EBITDA margins hit 17.3% on 400 robot deployments, but the AV working-capital cycle remains the open question.
What's new
- FY27 revenue growth guided at ~50%, with EBITDA margins targeted 2-3 percentage points above the FY26 16.4% baseline.
- Robotics/AI mix is targeted to rise from 36-37% of FY26 revenue to 60-65% in FY27, driven by higher-margin software and AMC streams.
- The ₹6.6 cr Pointer Insurance Broker order validates the BFSI market entry for Nanta's AI automation platform.
- The Robotics Nexus R&D subsidiary will scale spending from ₹35-40 lakhs to ₹2-5 cr annually.
Themes from the call
Mix Shift
The core strategic pivot is the planned move toward higher-margin robotics and AI, which carry 20-25% and 30%+ EBITDA respectively, versus lower-margin AV project work.
Working Capital
AV project business has inherent SITC working-capital intensity, with ₹48 cr receivables at H2-end, though ₹35 cr has already been collected.
Execution
Management is balancing an R&D spend ramp with margin improvement, a delicate task that requires the mix shift to deliver as planned.
Guidance watch
- CEO Mayank Jalani guided for ~50% revenue growth in FY27, with EBITDA margins targeted 2-3 percentage points above the FY26 16.4% baseline.
- UAE subsidiary revenue target of ₹15-16 cr (approx. USD 2 million) for FY27 on a dealer network expansion from 4 to 15 partners.
- RSVP Infotech acquisition expected to contribute ₹15-20 cr in FY27 revenue.
Risk flags
- The 50% growth target hinges on a near-doubling of the robotics/AI revenue share in one year, a significant operational stretch.
- Working capital days in the AV segment are expected to normalise, but the SITC cycle creates lumpy cash flows and receivables risk.
- R&D spend is scaling 6x-14x, and management says it is embedded in margin targets, but any delay in product development could pressure profitability.
Key quotes
-
"We are targeting growth of around 50% in FY27 based on the business outlook we are seeing."
— Mayank Jalani, CEO -
"Robotics and AI segment currently 36-37% of FY26 revenue but strategic core: targeting 60-65% mix by FY27."
— Nanta Tech management
The brief
Nanta Tech is leaning hard into its post-IPO identity. The company guided for ~50% revenue growth in FY27, anchored on a planned rise in the robotics and AI mix to 60-65% of total revenue. That's a jump from a 36-37% contribution in FY26, but H2 results provide some proof: EBITDA margins hit 17.3%, up 550 basis points, on ₹48.6 cr in revenue. The mix thesis is that robotics and software carry 20-25% and 30%+ EBITDA respectively, versus lower-margin AV project work. The ₹6.6 cr Pointer Insurance order shows the AI platform is gaining initial traction in BFSI.
The risk is execution speed. Scaling the robotics business requires a near-tripling of dealer partners to 15, launching an R&D subsidiary, and integrating a small acquisition, all while the legacy AV business ties up working capital. Management flagged ₹48 cr in H2 receivables, though ₹35 cr is already collected. The 2-3 percentage point margin improvement guidance is built on the assumption that high-velocity robotics and software sales will offset R&D ramp-up costs.
The open question is whether the mix shift can move this fast without breaking the balance sheet or disappointing on the growth promise.
Nanta's 50% growth guide is a bet that the robotics-AI pivot can outrun the working-capital drag of its legacy business.