Latent View Analytics Ltd(LATENTVIEW)

NSE: LATENTVIEWBSE: 543398

₹ 225.55+1.76%refreshed 26 Oct, 03:53 pm ISTMarket cap: ₹ 4,671 crNext results: 31 Oct 2026Website: www.latentview.comUpdated: 27 Oct 2026

About

It operates through roughly 1,744 employees as of Q1 FY27, servicing 96 clients on a last-twelve-months basis.^[1][2][3]

Business verticals

Technology (TMT) is the largest vertical; its share of revenue fell from ~70% eight quarters ago to ~55% in Q4 FY26, partly due to insourcing/consolidation at one large account that removed an estimated $6.5 - 7M of annual revenue.^[1]
Financial Services grew 84% YoY to ~$18M in FY26 and 105% YoY in Q3 FY26; by Q1 FY27 it represented 20% of revenue mix, up from 14% at the start of FY26.^[1][4][2]
CPG/Consumer (including acquired Decision Point) fell 32% QoQ in Q1 FY27 as ~$0.8 - 0.85M of one-off fixed-fee projects executed for Decision Point clients in Q4 FY26 did not recur.^[2]
US contributed ~85% of Q4 FY26 revenue, down from 94% eight quarters ago; rest of world (including Europe) rose to ~15% over the same period.^[1]

AI and platform revenue

Primary AI revenue (solutions directly in clients' hands) rose to 35% of revenue in Q1 FY27 from 28% in FY26; total AI-touched work rose to 80% from ~49% in FY26.^[2][1]
Databricks-platform revenue reached ~$7.8M in Q1 FY27, up from ~$7.5M in Q4 FY26; full-year FY26 Databricks-ecosystem revenue was $17.5M vs ~$12M in FY25.^[2][1]
GenAI/Agentic AI revenues were $5.5M in H1 FY26, already exceeding full-year FY25 of ~$7M; an additional $7M pipeline was being pursued at that point.^[5]
Managed services represent 65 - 70% of revenue mix in Q1 FY27; fixed-fee/outcome-based contracts are being shifted above the then-current 18 - 20% share to retain AI productivity gains.^[2][1]

Key operating metrics

Clients serviced on an LTM basis: 96 in Q1 FY27, up 2 from FY26 year-end; 7 new logos added on an LTM basis as of Q1 FY27, including 6 added in the quarter across financial services, auto components, and AI data-centre infrastructure.^[2]
Top-5 client revenue concentration was 59% (LTM Q1 FY27, +1 pp QoQ); top-10 concentration was 72% (+3 pp QoQ).^[2]
Headcount stood at 1,744 FTEs in Q1 FY27, down from 1,800 in Q4 FY26; a deliberate rationalisation of ~40 roles was carried out in Q3 FY26.^[2][1][4]
Utilisation spiked to ~89% in Q4 FY26 driven by large CPG project deployments, up from ~85% in Q3 FY26.^[1]
DSO was 80 days in FY26, up from 73 days in FY25.^[1]

Partnerships and platform capabilities

Databricks-certified headcount reached 350+ as of Q2 FY26, with a target to scale to 600 and then 800 over the following two years; 7 Partner Champions designated.^[5][4]
Databricks go-to-market accounted for ~10% of the $16 - 17M FY26 Databricks-linked revenue; 4 joint logo wins and 30+ active leads with 30 - 35% conversion rates were reported in Q3 FY26.^[4]
Three AI CoE focus areas formalised: conversational analytics (products include AI Penpal, LASER, BeagleGPT), agentic business process automation, and AI governance/eval/observability.^[4]
An agentic foundry platform is being built internally as a reusable cross-client asset, with a potential agent-level pricing model being explored.^[2]

Customers and distribution

A large BFSI client acquired in February FY26 reached a ~$10M annualised run rate by fiscal year-end FY26, prompting a one-time volume-discount request of ~$0.4M in Q1 FY27.^[2]
Top 6 CPG accounts (combined LatentView and Decision Point) were estimated to represent a $150M+ total addressable opportunity versus ~$10M of current engagement, per review conducted by the Chief Client Officer in Q3 FY26.^[4]
Nearshore capacity (Canada, Mexico, LATAM) stood at 20+ people in Q2 FY26 with a target of 100 over the following 12 months, built in response to US visa restrictions.^[5]

Expansion and inorganic strategy

An LOI was signed in Q1 FY27 on a target combining healthcare/life sciences and data engineering capabilities; LatentView was 'in the final two' of a competitive acquisition process at the time of the earnings call.^[2]
LatentView made a small minority investment in Healtheon, an agentic AI startup focused on healthcare revenue cycle management (RCM), announced at the Q4 FY26 call.^[1]
Three-year revenue target of $200 - 220M by FY28 was maintained as of Q2 FY26; FY27 full-year USD revenue growth guidance was set at 12% as of the Q1 FY27 call.^[5][2]

Recent developments

Sonal Ramrakhiani (25+ years of experience, formerly head of Wipro Engineering Americas and prior roles at TCS/Tata Technologies) joined as CEO ahead of the Q1 FY27 earnings call in June 2026.^[2]
A Chief Technology and AI Officer (CTAIO) organisation is being created to consolidate AI products, the agent foundry, partnerships and alliances, and service delivery excellence.^[2]
Labour Code salary restructuring completed; one-time EBITDA impact of ~INR 4.6 Cr was taken in Q3 FY26, with an ongoing annualised impact of 10 - 15 bps guided going forward.^[4]
Transaction-related expenses from the Decision Point acquisition are expected to cease entirely from Q2 FY27 onwards.^[2]

Market Cap

₹4,671 Cr

High / Low

₹517 / 220

Stock P/E

23.5

Price / Book

2.6

Book Value

₹85

EPS

₹9.6

No. of Shares

20.69 Cr

ROCE

15.8%

ROE

12.2%

OPM

23.9%

Debt / Equity

0.00

Sales

₹1,060 Cr

Net Profit

₹202 Cr

Promoter holding

65.0%

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