Workmates sticks to ₹210 cr FY27 target, says MRR jumped 35% in a quarter
The cloud provider guided for ₹24-25 cr profit on a 45% revenue jump. Its monthly recurring revenue base grew to ₹13.5 cr.
— 1 earlier story on Workmates Core2Cloud Solution Ltd. →What's new
- Management reiterated the ₹210 cr revenue target for FY27, a 45% year-on-year increase.
- Monthly recurring revenue opened the quarter at ₹13.5 cr, up 35% sequentially.
- AI and cybersecurity services are expected to contribute 5% of revenue this fiscal year.
Why this matters
Workmates is guiding for aggressive top-line and profit growth while its core subscription revenue base is also expanding rapidly. The 35% sequential jump in MRR suggests new client wins or expansion, which is the engine that would fund the ₹24-25 cr profit target. The margin recovery plan hinges on improving the services mix and utilisation.
What we're watching
- Whether quarterly MRR growth sustains or if the ₹13.5 cr figure was a one-off jump.
- Execution on the margin plan, specifically the services mix shift and utilisation rates.
- Progress toward the 5% revenue target from new AI and cybersecurity services.
The full read
Workmates Core2Cloud is guiding for ₹210 crore in FY27 revenue, a 45% jump, and ₹24-25 crore in net profit. But the more telling number in the earnings call is the 35% sequential increase in monthly recurring revenue to ₹13.5 crore. That's the subscription base that has to compound to fund the top-line and profit ambitions. Management's margin plan rests on shifting the services mix, lifting utilisation, and tapping the new hires. The company is also planting a flag in AI and cybersecurity, which it expects to reach 5% of revenue this year. The guidance itself was already out. The new detail is the MRR trajectory and the cost-structure commentary, which give a clearer view on whether the growth is internally funded or reliant on the new hires.
Questions answered
- What is the specific revenue and profit guidance for FY27?
- Workmates is targeting ₹210 crore in revenue for the year ending March 2027, which would be a 45% increase from the prior year. Management also guided for a net profit of ₹24-25 crore.
- How is the monthly recurring revenue growing?
- The company's opening monthly recurring revenue for the recent quarter was ₹13.5 crore. This represents a 35% increase from the prior quarter, indicating strong momentum in its subscription base.
- What is the plan to improve profitability?
- Management outlined a margin recovery plan centred on three levers: improving the services mix, achieving higher billable utilisation, and gaining operational leverage from new hires. The guidance implies margins should expand alongside the 45% revenue growth.
- What is the company's new focus area?
- Workmates is building out artificial intelligence and cybersecurity services. Management expects these newer offerings to contribute 5% of total revenue in the current fiscal year.
Workmates Core2Cloud Solution Ltd.
Latest quarter · Mar 2026
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All notes on WORKMATES →- 25 May 2026 · 6:31 PM IST Workmates sticks to ₹210 cr FY27 target, says MRR jumped 35% in a quarter
- 47d ago Workmates targets ₹210 cr revenue in FY27, sees 45%+ growth