NoPaperForms FY26 Profit Rises 6.3X to ₹11.9 Cr Ahead of IPO
IPO-bound education-focused SaaS company NoPaperForms saw its profit after tax jump 6.3X to ₹11.9 Cr in the financial year ended March 2026, up from ₹1.9 Cr in FY25. Operating revenue rose 25% to ₹115.7 Cr. The company’s bottom line was aided by a net tax credit of ₹3.7 Cr.
The company, which received SEBI’s approval for its IPO in March, is reportedly looking to raise ₹500 Cr to ₹600 Cr through the IPO at a valuation of about ₹2,000 Cr. IIFL Capital Services and SBI Capital Markets are the book-running lead managers.
What NoPaperForms Does
Founded in 2017, NoPaperForms provides software for educational institutions to manage student acquisition, enrolments, fee payments, and student engagement. It operates three principal products: Meritto for admissions and enrolment, Collexo for fee management and payments, and Mio AI, a suite of AI products.
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The company serves universities, K-12 schools, coaching institutes, edtech companies, and examination bodies, and served 1,183 customers across India and international markets in FY26.
Fees processed through its platforms reached ₹3,179.5 Cr, compared with ₹1,540.6 Cr two years earlier. Adjusted EBITDA doubled to ₹12.9 Cr with an 11.16% margin.
CMD and CEO Naveen Goyal said: “We facilitated 1.86 Bn personalised communications and processed ₹3,179.5 Cr in education fees, against ₹1,540.6 Cr two years earlier… This performance reflects the increasing scale of our core platforms alongside continued discipline in the way we invest.”
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