LATENTVIEW - Latent View

📊 NSE: LATENTVIEW 🏢 Computers - Software - Medium / Small 📅 Last Updated: 12/14/2025 9:11

💰 Financial Performance

Revenue Growth by Segment

Financial Services practice grew 94% YoY and 30% QoQ in Q2 FY26. Consumer (CPG) vertical grew 23% YoY. Technology vertical is currently growing in high single digits with a target to reach low double digits.

Geographic Revenue Split

Not disclosed in available documents, though the company maintains a global footprint with significant operations and client partners based in the U.S.

Profitability Margins

Reported PAT margin was 16.6% in Q2 FY26, down from 19.5% in Q1 FY26. FY25 Reported PAT margin was 18.9% (INR 173.5 Cr) compared to 22.2% (INR 158.7 Cr) in FY24.

EBITDA Margin

Adjusted EBITDA margin was 22.5% in Q2 FY26 (INR 58.0 Cr), consistent with Q2 FY25. Reported EBITDA margin for Q2 FY26 was 21.8% (INR 56.1 Cr) after accounting for transaction-related retention bonuses.

Capital Expenditure

Not disclosed in available documents; however, the company maintains a healthy cash balance for potential acquisitions in the data engineering and AI space.

Credit Rating & Borrowing

The company is almost debt-free with reduced debt levels. Specific borrowing costs and interest rates are not disclosed.

⚙️ Operational Drivers

Raw Materials

Human Capital/Talent (100% of service delivery cost). Key costs include transaction-related retention bonuses for Decision Point employees and investments in the AI Center of Excellence.

Import Sources

Not applicable for a service-based analytics firm.

Key Suppliers

Not applicable for a service-based analytics firm.

Capacity Expansion

Workforce capacity includes 165 graduates added recently. Expansion is driven by adding sales and business development bandwidth for the technology vertical and leadership roles.

Raw Material Costs

Employee-related costs are the primary driver. Transaction-related expenses for Decision Point integration were INR 1.9 Cr in Q2 FY26.

Manufacturing Efficiency

Adjusted EBITDA margin of 22.5% reflects strong operational execution and effective cost management. ROCE was 10.2% as of the latest reporting period.

Logistics & Distribution

Not applicable for a service-based analytics firm.

📈 Strategic Growth

Expected Growth Rate

21%

Growth Strategy

Growth is driven by the 'focus account initiative' targeting 27 accounts with 140 identified teams for mining. Integration of Decision Point (contributing ~$4M revenue) and pursuit of acquisitions in AI and Data Engineering are central to the strategy.

Products & Services

Data and analytics consulting, business analytics & insights, advanced predictive analytics, data engineering, digital solutions, and GenAI capabilities.

Brand Portfolio

LatentView Analytics, Decision Point (integrated consumer practice).

New Products/Services

GenAI capabilities and Databricks channel momentum are expected to drive future revenue, with one new account already scaling to a $5M-$6M+ annual run rate.

Market Expansion

Expansion into nearshoring and strengthening the consumer practice through the Decision Point integration.

Market Share & Ranking

1st Analytics company listed on BSE/NSE.

Strategic Alliances

Strong partnership and capability building for the Databricks channel.

🌍 External Factors

Industry Trends

Global IT spending is growing at 9.8%, but much is directed to recurring costs. The industry is shifting toward GenAI and specialized data engineering, where LatentView is positioning itself via its AI CoE.

Competitive Landscape

Operates in the highly competitive global data and analytics industry against both boutique firms and large IT service providers.

Competitive Moat

Strong moat through client longevity: 76% of revenue comes from clients served for over 5 years. High switching costs are created by deep integration into client data ecosystems.