Integrated Filing — IndAS



General information about company

Scrip Code 532440
NSE Symbol MPSLTD
MSEI Symbol NOTLISTED
ISIN INE943D01017
Name of company MPS Limited
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 15-05-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 08-05-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Multi segment
Description of single segment
Start date and time of board meeting 15-05-2026   10:30:00
End date and time of board meeting 15-05-2026   13:55:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 20,516.00 76,837.00
Other income 656.00 1,558.00
Total income 21,172.00 78,395.00
2 Expenses
(a) Cost of materials consumed 0.00 0.00
(b) Purchases of stock-in-trade 0.00 0.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 0.00 0.00
(d) Employee benefit expense 8,299.00 31,995.00
(e) Finance costs 116.00 201.00
(f) Depreciation, depletion and amortisation expense 836.00 2,777.00
(f) Other Expenses
1 Other Expenses 5,466.00 21,257.00
Total other expenses 5,466.00 21,257.00
Total expenses 14,717.00 56,230.00
3 Total profit before exceptional items and tax 6,455.00 22,165.00
4 Exceptional items 36.00 764.00
5 Total profit before tax 6,491.00 22,929.00
6 Tax expense
7 Current tax 1,531.00 5,698.00
8 Deferred tax 256.00 (91.00)
9 Total tax expenses 1,787.00 5,607.00
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 4,704.00 17,322.00
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.00 0.00
16 Total profit (loss) for period 4,704.00 17,322.00
17 Other comprehensive income net of taxes 2,010.00 2,991.00
18 Total Comprehensive Income for the period 6,714.00 20,313.00
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 0.00 0.00
Total profit or loss, attributable to non-controlling interests 0.00 0.00
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 0.00 0.00
Total comprehensive income for the period attributable to owners of parent non-controlling interests 0.00 0.00
21 Details of equity share capital
Paid-up equity share capital 1,711.00 1,711.00
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve 0.00
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 27.72 102.11
Diluted earnings (loss) per share from continuing operations 27.71 102.06
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 27.72 102.11
Diluted earnings (loss) per share from continuing and discontinued operations 27.71 102.06
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) 1. These results have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standards notified under section 133 of the Companies Act 2013. These results have been reviewed by the Audit Committee and upon their recommendation approved by the Board of Directors at their meeting held on 15 May 2026. The Statutory auditors of the Company have carried out the audit of the financial results for the year ended 31 March 2026 and an unmodified audit report has been issued. The same is available with Stock Exchanges and on the Company website www.mpslimited.com. 2. The consolidated financial results of MPS Limited and its subsidiaries collectively known as the Group are prepared in accordance with Ind AS 110 Consolidated Financial Statements as specified under the section 133 of the Companies Act 2013. 3. The figures for the three months ended 31 March 2026 and 31 March 2025 are the balancing figures between audited figures in respect of the full financial year and the published year to date figures up to preceeding quarter of the relevant financial year which were subject to limited review. 5. The Board of Directors in their meeting held on 16 May 2025 had recommended a final dividend of INR 50 per equity share (face value of INR 10 per share) for the FY 2024 25 This was approved by the shareholders in the AGM held on 29 August 2025 and was remitted to the shareholders by 06 September 2025. 6. The Board of Directors of the company approved a draft Scheme of Amalgamation on 18 July 2025 under Sections 230 232 of the Companies Act 2013 for the merger of ADI BPO Services Limited the Holding Company post demerger of its Infrastructure management and investing business undertakings into MPS Limited. The No Objection from the designated Stock Exchange has since been received on 02 March 2026 Pursuant thereto the Scheme has been filed before the Honble National Company Law Tribunal Chennai Bench on 17 April 2026 and is presently awaiting hearing. 7. During the quarter ended 31 December 2025 MPS Interactive Systems Limited a material subsidiary of the Company has entered into a SSSHA on 10 October 2025 with Mr Rodney Charles Beach Investor an Australian resident and the Company. Pursuant to the SSSHA Mr Beach invested INR 874 lacs in equity shares of MPSi through preferential allotment The Group has recognized a corresponding liability for the future purchase of this minority stake in accordance with the SSSHA terms 8. On 09 February 2026 the Company has completed the acquisition of 100 percent stake held by the stockholders of Unbound Medicine Inc USA through MPS North America LLC a wholly owned subsidiary of the Company for a total consideration of USD 16.50 million subject to customary adjustments payable as per the terms of the Stock Purchase Agreement. This being a Business Combination thus based on the preliminary purchase price allocation to the various identifiable acquired assets and assumed liabilities the provisional goodwill of INR 12386 lacs has been recognized subject to working capital adjustment The acquisition by MPS North America LLC was funded through a combination of internal accruals and external borrowings of INR 4200 lacs. 9. Total exceptional items (net) for the year ended 31 March 2026 is INR 764 lacs gain being the sum of a to d below a. Restructuring cost of American Journal Experts business amounting to INR 209 Lacs for the year ended 31 March 2026. b. On 21 November 2025, the Government of India notified provisions of the Code on Wages 2019 the Industrial Relations Code 2020 the Code on Social Security 2020 and the Occupational Safety Health and Working Conditions Code 2020 collectively referred to as the Labour Codes Due to implementation of these codes the company has taken an incremental impact of gratuity of INR 524 lacs and long-term compensated absences of INR 178 lacs during the quarter ended 31 December 2025 The company continues to monitor the finalisation of central state rules and clarifications from the government on other aspects of the labour code and would provide appropriate accounting effect on the basis of such developments as needed. c. During the quarter ended 31 December 2025, MPSi completed the 100 percent acquisition of the Liberate Group comprising Liberate Learning Pty Ltd App eLearn Pty Ltd and Liberate eLearning Pty Ltd on 28 October 2025 Following completion the Liberate Group has become a wholly owned subsidiary of MPSi Further Mr Beach has assumed the role of President of Corporate learning segment. Pursuant to this the liability of INR 1325 lacs and INR 1573 lacs respectively was written back under Exceptional Items net for the quarter ended 30 September 2026 and year ended 31 March 2026. During the quarter ended 31 March 2026 the Group has tested the carrying amount of investments or Goodwill for impairment as at 31 March 2026 thereby recording an impairment loss on goodwill of INR 1293 lacs in the Consolidated financial results as an exceptional item for the quarter and year ended on 31 March 2026. The impairment reflects a reassessment of carrying value following the consolidation of the Liberate Group into the unified Liberate Global brand structure in April 2026. The underlying business continues to perform in line with the integration plan. d. During the quarter ended 31 March 2026 the company has written back INR 1395 lacs pursuant to change in policy with respect to write back of advances from customer in AJEBusiness to align with the market conditions/competition and pursuant to the change in the commercial terms with the customers. e. During the quarter ended 31 March 2025 Exceptional Items includes write back of contingent consideration of INR 591 lacs payable as the remaining amount for purchase of 65 percent stake of Liberate Group as per the terms of the Share Purchase Agreement and other transaction documents dated 29 August 2023 and 31 August 2023 This had been written back basis assessment of the actual performance with the defined targets under SPA 10. Subsequent to the quarter ended 31 March 2026 the Nomination and Remuneration Committee of the Board at its meeting held on 04 May 2026 considered and approved the 5th grant of 79009 options to the eligible employees of the Company and its subsidiary under the MPS Limited Employee Stock Options Scheme 2023. 11. Subsequent to the quarter ended 31 March 2026 App eLearn Pty Ltd Australia a non material step down subsidiary of the Company with no active business operations was voluntarily deregistered strike off in accordance with the provisions of the Corporations Act 2001 Australia and other applicable laws of Australia. Consequently App-eLearn Pty Ltd has ceased to be a step-down subsidiary of the Company effective 13 May 2026. 12. The standalone financial results of the Company are also available on the Company website www.mpslimited.com. 13. The figures for the corresponding previous quarter or year have been regrouped or reclassified wherever necessary to make them comparable.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 31-03-2026
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 2,358.00
Capital work-in-progress 0.00
Investment property 89.00
Goodwill 37,632.00
Other intangible assets 13,886.00
Intangible assets under development 21.00
Biological assets other than bearer plants 0.00
Investments accounted for using equity method 0.00
Non-current financial assets
Non-current investments 0.00
Trade receivables, non-current 0.00
Loans, non-current 0.00
Other non-current financial assets
1 Other Financial assets 413.00
2 Non-current Tax Assets 426.00
Total of other non-current financial assets 839.00
Total non-current financial assets 839.00
Deferred tax assets (net) 2,989.00
Other non-current assets
1 Other non-current assets 253.00
Total of other non-current assets 253.00
Total non-current assets 58,067.00
2 Current assets
Inventories 0.00
Current financial asset
Current investments 2,466.00
Trade receivables, current 13,348.00
Cash and cash equivalents 7,655.00
Bank balance other than cash and cash equivalents 1,799.00
Loans, current 1.00
Other current financial assets
Total of other current financial assets 542.00
Total current financial assets 25,811.00
Current tax assets (net) 370.00
Other current assets
1 Other current assets 9,943.00
Total of other current assets 9,943.00
Total current assets 36,124.00
3 Non-current assets classified as held for sale 0.00
4 Regulatory deferral account debit balances and related deferred tax Assets 0.00
Total assets 94,191.00
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 1,711.00
Other equity 57,922.00
Total equity attributable to owners of parent 59,633.00
Non controlling interest 0.00
Total equity 59,633.00
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 2,975.00
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities
1 Other financial liabilities 2,064.00
Total of other non-current financial liabilities 2,064.00
Total non-current financial liabilities 5,039.00
Provisions, non-current 79.00
Deferred tax liabilities (net) 4,444.00
Deferred government grants, Non-current 0.00
Other non-current liabilities
Total of other non-current liabilities
Total non-current liabilities 9,562.00
Current liabilities
Current financial liabilities
Borrowings, current 1,050.00
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 94.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 4,171.00
Total Trade payable 4,265.00
Other current financial liabilities
1 Other current financial liabilities 3,795.00
Total of other current financial liabilities 3,795.00
Total current financial liabilities 9,110.00
Other current liabilities 13,429.00
1 Other current liabilities 13,429.00
Total of other current liabilities 13,429.00
Provisions, current 1,429.00
Current tax liabilities (Net) 1,028.00
Deferred government grants, Current 0.00
Total current liabilities 24,996.00
3 Liabilities directly associated with assets in disposal group classified as held for sale 0.00
4 Regulatory deferral account credit balances and related deferred tax liability 0.00
Total liabilities 34,558.00
Total equity and liabilites 94,191.00
Disclosure of notes on assets and liabilities Textual Information(1)



Text Block

Textual Information(1) 4 b. Assets and liabilities used in the Groups business are not identified to any of the reportable segments as these are used interchangeably between segments and the management believes that it is not practicable to provide segment disclosures relating to total assets and liabilities.



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-01-2026 01-04-2025
Date of end of reporting period 31-03-2026 31-03-2026
Whether results are audited or unaudited Audited Audited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
1 Research Solutions 11,955.00 46,351.00
2 Education Solutions 6,013.00 20,890.00
3 Corporate Learning 2,548.00 9,596.00
Total Segment Revenue 20,516.00 76,837.00
Less: Inter segment revenue
Revenue from operations 20,516.00 76,837.00
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Research Solutions 4,552.00 17,024.00
2 Education Solutions 2,098.00 7,721.00
3 Corporate Learning 490.00 1,131.00
Total Profit before tax 7,140.00 25,876.00
i. Finance cost 116.00 201.00
ii. Other Unallocable Expenditure net off Unallocable income 533.00 2,746.00
Profit before tax 6,491.00 22,929.00
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 Research Solutions 0.00 0.00
2 Education Solutions 0.00 0.00
3 Corporate Learning 0.00 0.00
Total Segment Asset 0.00 0.00
Un-allocable Assets 0.00 0.00
Net Segment Asset 0.00 0.00
4 Segment Liabilities
Segment Liabilities
1 Research Solutions 0.00 0.00
2 Education Solutions 0.00 0.00
3 Corporate Learning 0.00 0.00
Total Segment Liabilities 0.00 0.00
Un-allocable Liabilities 0.00 0.00
Net Segment Liabilities 0.00 0.00
Disclosure of notes on segments Textual Information(2)



Text Block

Textual Information(2) 4 a. Based on the management approach as defined in Ind AS 108 Operating Segments the Chief Operating Decision Maker evaluates the Groups performance and allocates resources based on an analysis of various performance indicators by business segments. The accounting principles used in the preparation of the financial results are consistently applied to record revenue and expenditure in individual segments.



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Re-measurement gain/loss on defined benefit plans 96.00 126.00
Total Amount of items that will not be reclassified to profit and loss 96.00 126.00
2 Income tax relating to items that will not be reclassified to profit or loss 25.00 32.00
3 Amount of items that will be reclassified to profit and loss
1 Exchange differences on translation of foreign operations 1,939.00 2,897.00
Total Amount of items that will be reclassified to profit and loss 1,939.00 2,897.00
4 Income tax relating to items that will be reclassified to profit or loss 0.00 0.00
5 Total Other comprehensive income 2,010.00 2,991.00



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 31-03-2026
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 22,929.00
Adjustments for reconcile profit (loss)
Adjustments for finance costs 201.00
Adjustments for decrease (increase) in inventories 0.00
Adjustments for decrease (increase) in trade receivables, current (1,175.00)
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets (277.00)
Adjustments for decrease (increase) in other non-current assets 136.00
Adjustments for other financial assets, non-current 0.00
Adjustments for other financial assets, current (328.00)
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current 55.00
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities 902.00
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 2,777.00
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current 157.00
Adjustments for provisions, non-current 0.00
Adjustments for other financial liabilities, current 589.00
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains 190.00
Adjustments for dividend income 0.00
Adjustments for interest income 126.00
Adjustments for share-based payments 116.00
Adjustments for fair value losses (gains) (234.00)
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow (352.85)
Other adjustments to reconcile profit (loss) 0.00
Other adjustments for non-cash items (1,214.15)
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) 1,416.00
Net cash flows from (used in) operations 24,345.00
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 4,666.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities 19,679.00
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 3.00
Purchase of property, plant and equipment 774.00
Proceeds from sales of investment property 0.00
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 52.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 21.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties 0.00
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 0.00
Interest received 140.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash (12,583.00)
Net cash flows from (used in) investing activities (13,287.00)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 0.00
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 4,200.00
Repayments of borrowings 175.00
Payments of lease liabilities 358.00
Dividends paid 8,669.00
Interest paid 180.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 30.00
Net cash flows from (used in) financing activities (5,152.00)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 1,240.00
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 74.00
Net increase (decrease) in cash and cash equivalents 1,314.00
Cash and cash equivalents cash flow statement at beginning of period 6,341.00
Cash and cash equivalents cash flow statement at end of period 7,655.00





Details of Impact of Audit Qualification

Amount in (Lakhs)

Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results Yes
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 Walker Chandiok & Co LLP Yes 31-05-2028