Amagi posts Rs 705 Cr revenue in H1 FY26; turns profitable

Bengaluru-based SaaS firm Amagi has recently filed its red herring prospectus (RHP) for its upcoming initial public offering (IPO). The financials included in the filing show that the company turned profitable in the first half of FY26, aided by strong revenue growth and improving cost efficiency.

Amagi’s operating revenue grew 34.5% to Rs 705 crore in H1 FY26 from Rs 524 crore in H1 FY25, according to its financial statements included in the Red herring prospectus (RHP).

The company derives the bulk of its revenue from distribution and payout services, which contributed nearly 98% of operating revenue. Income from this segment rose 36% to Rs 690 crore during the period.

Revenue from AdPlus remained largely flat at Rs 15 crore. Including other income of Rs 29 crore, Amagi’s total income increased to Rs 734 crore in H1 FY26 from Rs 551 crore in H1 FY25.

Employee benefit expenses, the largest cost component, rose 12.5% to Rs 386 crore and accounted for over 53% of total expenditure. Communication costs increased 32.5% to Rs 216 crore, forming nearly 30% of overall expenses.

Other overheads such as legal and professional charges declined to Rs 27 crore, while travel and other expenses together added Rs 71 crore during the period. Overall, total expenses increased at a slower pace of 18.2% to Rs 722 crore in H1 FY26 from Rs 611 crore in H1 FY25.

With Amagi’s revenue outpacing the expense growth, it turned profitable in the first half of FY26 and posted a profit of Rs 6.5 crore in H1 FY26, as compared to a loss of Rs 66 crore in H1 FY26. Its ROCE and EBITDA margin stood at -1.51% and -0.57% respectively.

As of September 2025, the Bengaluru-based firm reported cash and bank balances of Rs 397 crore, while its current assets stood at Rs 1,177 crore.

Amagi announced a price band of Rs 343–Rs 361 per share for its upcoming initial public offering (IPO). The Rs 1,788.62 crore public issue will open for subscription on January 13 and close on January 16, while the anchor book will open on January 12. The company has fixed the lot size at 41 shares, translating to a minimum retail investment of around Rs 14,800 at the upper end of the price band.

The company’s early and growth-stage investors including Premji invest, Accel India, Norwest Venture Partners are set to multiple returns on their initial investment. Premji Invest being the highest gainer at 14x return.