NoPaperForms, an education-focused SaaS company preparing for its IPO, reported a 6.3-fold increase in profit after tax to ₹11.9 crore in the financial year ended March 2026 (FY26), up from ₹1.9 crore the previous year. Its operating revenue grew 25% to ₹115.7 crore from ₹92.3 crore in FY25, with total income including other income reaching ₹119.7 crore, according to inc42.com.
The company’s total expenses rose 18% to ₹111.5 crore from ₹94.2 crore in FY25. NoPaperForms benefited from a net tax credit of ₹3.7 crore, which included a deferred tax credit of ₹5.8 crore, offset by ₹1.1 crore in current tax and ₹94 lakh in additional expenses due to labour code impacts. Its adjusted EBITDA doubled year-on-year to ₹12.9 crore, with an adjusted EBITDA margin of 11.16%. Founded in 2017, NoPaperForms provides software solutions for student acquisition, enrolments, fee payments, and engagement.
NoPaperForms operates three main software products: Meritto, which handles admissions and enrolment with subscription- and consumption-based revenue; Collexo, a fee-management and payments solution generating subscription- and transaction-based revenue; and Mio AI, a suite of AI products offered through subscription and consumption models. These products serve universities, colleges, preschools, K-12 schools, coaching, and test preparation institutes, positioning the company in the growing edtech SaaS market.
The company received regulatory approval from SEBI for its IPO in March 2026, marking a key milestone ahead of its public listing. NoPaperForms’ financial results for FY26 demonstrate strong growth momentum and operational scalability as it prepares to enter the capital markets.