TANLANSE20 July 2023

Tanla Platforms Limited has informed the Exchange about Investor Presentation

Tanla Platforms Limited

Tanla Platforms Limited (Formerly known as Tanla Solutions Limited) Tanla Technology Center Hi-tech city Road, Madhapur, Hyderabad, India - 500081 CIN: L72200TG1995PLC021262

T: +91-40-40099999 info@tanla.com www.tanla.com

National Stock Exchange of India Ltd. “Exchange Plaza” Bandra-Kurla Complex, Bandra (East), Mumbai - 400 051 Symbol: TANLA

Date: July 20, 2023

To, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001 Scrip Code: 532790

Dear Madam/Sir,

Sub: Investor Update for the quarter ended June 30, 2023.

With reference to the above cited subject, we are enclosing herewith the Investor Update for the quarter ended June 30, 2023.

Request you to take the same on record and oblige.

Thanking you

Yours faithfully, For Tanla Platforms Limited

Seshanuradha Chava General Counsel and Company Secretary ACS-15519

Investor Update

Q1 FY24

20th July 2023

CONFIDENTIAL AND PROPRIETARY Any use of this material without specific permission is strictly prohibited

Safe Harbor and Other Information

The CPaaS business is evolving at a fast pace in India with very little information available in the public domain on the overall market. The financial community has always sought a response on the total market size, key drivers of the industry and the competitive landscape in this space. In order to provide more transparency and to help understand our business better, we are providing indicative data around the market size and our relative share (assuming the indicative data). This indicative data has been arrived at basis our detailed internal analysis. This is being done with an intent to provide an indicative picture of the industry and address queries about the CPaaS space. This must not be seen as a positioning statement of the company, and one should not rely on the company’s disclosure for their assessment of the market size or the relevant share of any participants in the market.

This presentation contains statements that include information concerning our possible or assumed strategy, future operations, financing plans, operating model, financial position, future revenues, projected costs, competitive position, industry environment, potential growth opportunities, potential market opportunities, plans and objectives of management, as well as assumptions relating to the foregoing that involve substantial risks and uncertainties. All statements other than statements of historical fact could be deemed forward-looking in nature. Such statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. In some cases, although not all forward‐looking statements contain these identifying words, you can identify forward-looking statements by terminology such as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “plan,” “PROPOSED,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” “shall,” and variations of these terms or the negative of these terms and similar or derivate expressions. The forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements, expressed or implied by the forward- looking statements. It is advisable not to place excessive reliance on any of the forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Additionally, these forward-looking statements, involve risk, uncertainties and assumptions based on information available to us as of 15/07/23, including those related to the continued impacts of COVID-19 on our business, future financial performance and global economic conditions. Many of these assumptions relate to matters that are beyond our control and changing rapidly, including, but not limited to, the timeframes for and severity of social distancing and other mitigation requirements, the timing of headwinds from COVID-19, the availability of vaccinations, the continued impact of COVID-19 on new or existing customers, business decisions and the length of our sales cycles, renewal timing or billings terms, particularly for customers in certain industries highly affected by COVID-19.

If the risks or uncertainties ever materialize or the assumptions prove incorrect, our results may differ materially from those expressed or implied by such forward-looking statements. We assume no obligation and do not intend to update these forward-looking statements or to conform these statements to actual results or to changes in our expectations, except as required by law.

This presentation contains statistical data, estimates and forecasts that are based on independent industry publications or other publicly available information wherever possible, as well as other information based on our internal sources. This information involves many assumptions and limitations, and you are cautioned not to place excessive weightage to these estimates. We have not independently verified the accuracy or completeness of the data contained in these industry publications and other publicly available information, wherever referred. Certain statements that might or might not be forward-looking statements represent our management’s beliefs and assumptions only as of the date of this presentation. Accordingly, we make no representations as to the accuracy or completeness of that data nor do we undertake to update such data after the date of this presentation.

By receiving this presentation you acknowledge that you will be solely responsible for your own assessment of the market and our market position and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of our business. Any logos or trademarks other than Tanla, Karix, ValueFirst, Gamooga, Trubloq & Wisely included herein are the property of the owners thereof and are used for reference purposes only.

Q1 FY24 Results: Snapshot

Revenue

Gross Profit

EBITDA

FCF

₹9,111 Mn 13.9% Growth

₹2,413 Mn 30.4% Growth

₹1,822 Mn 20.0% Margin

₹869 Mn 64% of PAT

PAT ₹1,354 Mn

14.9% Margin

EPS ₹10.07 36% Growth

Cash ₹8,039 Mn

Increased by ₹923 Mn QoQ

We have had a remarkable journey over last 5 years

A. We lead with purpose

B. We are a tech innovator

C. Our customers love us

D. We are a talent magnet

 We’re shaping the world of trusted digital experiences to empower consumers and enable companies

 We touch 1 Bn lives daily

— Delivered OTP messages to enable 100 Cr + vaccinations

— Facilitated outreach to ~9 Cr farm families

 Our focus is no scam, no spam, yes security & yes privacy

 Our strategy has ESG at the heart of all our operations

 Greenfield innovations leveraging cutting edge technology like NLP, CNN, deep learning, Web of

trust, etc.

 Global leader in blockchain, AI/ML led spam and scam prevention etc. with 4+ patents

 We have undisputed market leadership in India (35% CPaaS market share)

 Top player of choice for 1300+ enterprises in India



International presence across 4 regions – North America, Europe, SEA & Middle East – serving marquee tech giants and large Indian enterprises

 We have a 200+ strong pool of world class talent across product and technology talent; which we

continue to cultivate leveraging Tanla Academy

 Focused recruitment from leading universities and marquee SaaS companies of India and beyond.

E. We have a great financial track record

 We’ve continued to deliver over the last 5 years

— 4x Revenue growth – at ₹ 33,546 Mn — 9x EBITDA growth – at ₹ 5,879 Mn — 23x PAT – at ₹ 4,476 Mn

A. We lead with purpose!

Our purpose

ESG at the heart of all our operations

T= EC2

“Shaping the world of trusted digital experiences to empower consumers and enable companies”

All our focus is securing the digital citizens of India and beyond:

No Scam, No Spam, Yes Security, Yes Privacy

We are environment friendly

We empower our customers, partners, employees & society

Our platform of platforms stand for governance and trust

• Achieve Net Carbon Neutrality by 2025

• LEED gold certification for our new office is in progress

• Upskilled 50% of

platform workforce in last 1 year

• Skilling, training & placing 1K youth

• Developed Trubloq - World's largest blockchain platform to prevent spam, trusted by 50K+ enterprises

• Working with regulators in India & beyond to build

Awards & recognition

Delivered OTP messages to enable 100 Cr + vaccinations

Facilitated outreach to ~9 Cr farm families

Global HR Excellence Award 2022

Recognized in 2021 Gartner CPaaS Competitive Landscape

Featured in Next top 100 companies in India

Won in the Enterprise Communication category

B. We continue to disrupt the market through tech led greenfield innovations

Multiple cutting-edge technologies leveraged across our platforms

Our platforms of pride!

1. Engage

2. Communicate

3: Protect

4: Experience

AI enabled customer insights to acquire customers

Big data and AI/ML capabilities to enable personalization at scale

Predictive AI & recommendation engine to ensure targeted propositions for increased customer stickiness

End to end secure dual encryption standard using cryptographic algorithms (ciphered text)

Blockchain built using Hyperledger Fabric 1.4 to provide Single Source of Truth (SSOT) for all communication

4 proprietary AI/ML engines leveraging Web of Trust, Convolutional Neural Network, NLP, and deep learning resulting in a False positive rate of <0.5% and latency of <20 m/s

Usage of cognitive computing, honey- pots, AI & ML to eliminate unregistered telemarketers

Single API for seamless omni-channel experience across all forms of communications (SMS, voice, OTT and advanced channels etc.)

Developed world’s largest blockchain based platform to prevent spam Serving 3 out 4 large telcos in India and both telcos in UAE

First of its kind AI/ML platform for curbing smishing

POC’s successfully completed with 3 leading private banks with 99%+ accuracy demonstrated

C. Our customers love us in India and beyond

We are the player of choice in India…

45%

NLD market share

50%+

of total revenues contributed by 50 of our top 100 customers, retained for more than 5 years

Player of choice in India across industries leaders

1300+

Customers across segments

9/10 top banks served

7/10 top insurance

8/10 top financial

services

7/10 top social media

marquee govt. projects

… and serve global giants in 4 regions

USA & Europe

Global Tech giants

SEA

Middle East

This indicative data on market size has been arrived at basis our internal analysis. This is our assessment and merely indicative in nature and should not be relied upon

D. We are a talent magnet

We continue to cultivate top-class talent leveraging Tanla Academy

200+

strong pool of world class talent across products and technology

Global Exposure

Build thought leadership

Plug and play modules

Innovative hackathons

Tie up with top business schools (e.g., LBS, Stanford) for customized programs

Go and see set- ups, immersive sessions

Host interactive modules tailored to individual learning journeys

Showcase product and process innovation & incentivize top innovators

E. Great Financial Track Record

We continue to deliver over the last 5 years

All figures in ₹ Mn

7,916 Revenues 2018

~4x

33,546 Revenues 2023

652 EBITDA 2018

~9x

5,879 EBITDA 2023

191 PAT 2018

~23x

4,476 PAT 2023

9 9

Tanla is now at its next inflection point

Founded Tanla - expertise in messaging services

Big foray into voice, SMS services

Trubloq Launch – World’s first blockchain enabled communication stack (largest blockchain use case)

Acquired Gamooga to expand Big data and AI/ML capabilities & personlaisation at scale capablites

Introduced Wisely ATP – World’s first AI/ML led solution to identify SMS phishing in real time, prevent message delivery, eliminate root cause

1999

2008

2019

2023

We are at the cusp of hyper-scale growth

2002

2014

2019

2021

2023

Tanla’s first SMSC (telco grade), fundamentally a SaaS based model

First enterprise grade CPaaS stack for domestic & international at Vodafone

Acquired Karix - Largest CPaaS player with 1300+ enterprise

Launched Wisely - a single platform of platforms for digital interactions with E2E encryption built on blockchain

Acquired ValueFirst – Strengthening market leadership & accelerating international expansion

Era 1

Era 2

Era 3

Today, Tanla focuses on two synergistic businesses - Digital Platforms & Enterprise Communications

Predictable growth 20%+ growth in gross profit for 12 consecutive quarters

Deeply embedded NRR of 125%

Monetizable at scale 100% of revenue from SaaS business models

Digital Platforms (Innovation Engine)

Enterprise Communications (Scale with enterprise)

Innovation at scale

This indicative data on market size has been arrived at basis our internal analysis. This is our assessment and merely indicative in nature and should not be relied upon

Undisputed market leadership 45% SMS market share in India

E2E omnichannel presence SMS, Voice, OTT (WhatsApp, TrueCaller), other advanced messaging channels, chatbot etc.

Agility & rapid customer service 10k+ API’s deployed across enterprises to enable full suite of omni-channel communication

Digital Platforms Highlights

Enterprise Communications Highlights

Business Outcomes

Financial Outcomes

Corporate

Our digital platforms are deeply embedded across the digital interaction value chain

(xx) Year of acquisition/launch

Engage across customer lifecycle

Communicate

Protect

Experience

Acquire

Engage

Retain

Ensuring user privacy and spam prevention along with adherence to local and global laws for all communications e.g., TCCCPR, GDPR

End-to-end encrypted network scalable on demand with highly reliable delivery

Omnichannel interactions across multiple channels and partners

Engage:

(2019)

Big data and AI/ML capabilities: Personalization at scale

Retain: Predictive AI & recommendation engine1

(2022)

Targeted propositions for customer stickiness and loyalty

Enterprises

(2019)

Deep network integration

(2015)

OTT

(2022)

Single API for all normal & advance channel of communications

Developed World’s largest blockchain based platform to prevent spam

Serving 3 out 4 large telcos in India and both telcos in UAE

Communicate Single platform of platform for E2E solving all of enterprise needs

Unique solution: Integrated AI based firewall, deeply embedded network elements

6 SMSC deployments with 20k TPS capacity

ATP World’s first AI/ML led solution to identify and prevent SMS phishing in real time & eliminate root cause

Source: Tanla estimates

Users

Wisely is our platform of platforms across all 4 parts of the value chain addressing needs of multiple C-suite buying centers

1: Engage

Intelligence led promo solutions for sharper customer targeting Wisely Engage

Chief Marketing Officer

Chief Digital Officer

3: Protect

AI enabled solutions to curb phishing and leakages

• Wisely Anti-Phishing Technology

Platform

• Wisely Network

CISO; Chief Risk officer

Chief Digital Officer

Chief Marketing Officer

1. Currently TRUBLOQ comes under Comply

Platform of Platforms with in-built Reports, Recommendation engine, Network, Blockchain, AI/ML, SSOT, and Cryptography

Primary buying center

Secondary buying center

2: Communicate Blockchain based omni-channel CPaaS platform; DLT scrubbing

• Wisely Communicate

• Wisely Trubloq

Chief Technology Officer

CISO; Chief Risk officer

Chief Operating Officer

Chief Marketing Officer

Customer Service head

4: Experience

Omni-channel solutions to deliver differentiated experience and customer value f

• Wisely OTT

Chief Marketing Officer

Chief Operating Officer

6 platforms currently and more to come

These platforms represent a large and growing TAM opportunity

Total addressable market (CY’23 to 27, USD Bn)

Engage

Communicate

Protect

Experience

0.3

2-3

1.7-1.9

0.4-0.5

5-6

1.2-1.3

0.4

2.5-2.7

1.3-1.4

11-13

3.5-3.9

0.7-0.8

3.7-3.9

4.1-4.5

2023 (India)

2027 with new platforms (India)

2027 with new platforms (Global - India+SEA+MENA)

Source: Tanla internal team analysis and estimates, Industry experts

Trubloq | Game changing innovation – Blockchain powered communication stack

Tanla’s Solution

DLT system (Distributed Ledger Technology) to arrest Spam

World’s first blockchain-enabled communication stack

Usage of cognitive computing, honey-pots, AI & ML to eliminate unregistered telemarketers

Engineered for universal compatibility with both legacy and ledger-based blockchain protocols

Impact

User Impact 1 bn+ users touched

Business Impact 3 Out of 4 Indian top telcos served

50K+ enterprises

100% of UAE

UAE traffic

82 Bn

Volume in Q1

Financial Impact 27% CAGR

95%+ gross margin

over past three years

1. Telecom Commercial Communication Customer Preference Regulation

Wisely ATP - first of it’s kind anti-smishing platform

AI/ML led solution to identify SMS phishing in real time, prevent the message from being delivered, eliminate the root cause

A. Real time <20ms

B. Scalable 1 trillion + Potential processing capacity over a year

C. Cutting edge tech AI/ML, NLP, deep learning, WOT, CNN etc.

D. 99% Gold standard efficacy

Success Markers

Showcased to 5 regulators globally

Regulatory acceptance

Customer adoption

Success tested with TRAI; demonstrated solution prowess during 3-month regulatory sandbox • 99%+ identification and prevention of smishing

attacks targeted at users

POC’s successfully completed with 3 leading private banks:

Commercial closure discussion in progress with our POC customer • Accelerating our GTM with other enterprises

1. From eight weeks POC with one of the largest publicly listed banks in India

We are a platform company operating at above Rule of 60

Characteristics

Evidence

Outcome

High margin profile

IP led platforms – 80%+ Gross Margin and 60%+ EBIT

Deeply embedded with customers

Address needs of multiple buying centres 125% of NRR

Rule of 60 29% YoY revenue growth

Monetization at Scale

100% of our platform revenue operates at SaaS business models: per user, per transaction or subscription

68% EBIT margin

Revenue predictability

20%+ YoY growth in gross profit for 12 consecutive quarters

We are currently operating at close to rule of 100 Aim to converge at Rule of 60 even at a scale

We are creating an unparalleled working experience

Elevating Tanla brand amongst prospective employees

100,000 sq. ft - State of the art innovation center for continuous innovations & improvements

Digital Platforms Highlights

Enterprise Communication Highlights

Business Outcomes

Financial Outcomes

Corporate

Our market leadership in enterprise communication (1/2)

Undisputed market leadership

High Customer Stickiness

Unmatched scale with 35% CPaaS market share

50 of Top 100 accounts > 5 years

‐ 5% increase post ValueFirst acquisition

‐ 45% share in SMS NLD market

Player of choice across industry ‐ 1300+ customers across industries ‐ 8 of Top 10 brands served across banking,

Insurance, Retail, E-Comm, Travel & Digital Natives

Largest government partner

‐ Multiple campaigns supported

‐ Double digit growth in every customer cohort

since inception

‐

100+ API’s integrations within a single enterprises across different ecosystems

Customized to serve enterprise needs

‐ Deeply integrated, with all major CRM systems

across verticals to enable omnichannel communication

‐

10,000 customized API’s to integrate with customers

1000+ bank-specific use cases supported

This indicative data on market size has been arrived at basis our internal analysis. This is our assessment and merely indicative in nature and should not be relied upon

Our market leadership in enterprise communication (2/2)

Tech. backed use cases

Newer Channels

AI/ML based solutions developed for a leading bank

‐ Impact:

2X increase in loyalty (offers availed) for the bank

Context ‐ Automated relevant promotional

messages based on user card swipe activity

‐ In house ML capabilities leveraged to

trigger targeted offer to users basis transaction amount, location, and card type

Turbo charging our growth

‐ ~3X YoY growth in Q1 from WhatsApp

Serving enterprise curated needs

‐ 300 Mn SBI users to engage over WhatsApp for their banking requests

‐ Commerce on WhatsApp: Enabled

cab booking over WhatsApp for a seamless consumer journey

What does the Value First acquisition from Twilio bring to Tanla

Unprecedented market leadership

Complementary customer segments

 CPaaS market share:

 Karix:

30-35%

 SMS market share (NLD):

40% to 45%+

Leader in large enterprises (60% of revenue from customers with ₹ 500 Mn+ revenue)

 WhatsApp market share

 ValueFirst:

10-15%

Leader in mid market (60%+ of revenue from customers with ₹ 10 Mn-500 Mn revenue)

Interco. Overlap excluded

1. Note: For the purpose of this presentation, we are combining the financials of the two transactions for easy understanding This indicative data on market size has been arrived at basis our internal analysis. This is our assessment and merely indicative in nature and should not be relied upon

C Accelerate international expansion

 Augment strong momentum

in KSA, UAE and Indonesia e.g., Unilever Indonesia

 Critical mass achieved in

UAE with 10% share

 Significant headroom to

grow in ₹ 200 Bn+ markets

A. Consolidation of India market leadership in CPaaS space

FY23 figures for Tanla CPaaS business excluding all International Business; Figures in INR Cr

Market share consolidation by value

30% to 35%+

Market share consolidation by SMS by value

8%+

45%+3

Market share2

30%

~35%3

SMS1 (NLD)

40%+

Tanla CPaaS business5

ValueFirst

Overall

Tanla CPaaS business5

ValueFirst

Overall

Includes enterprise + aggregation revenue Includes SMS NLD (including DLT) and ILD, email and WhatsApp Interco. Overlap excluded Tanla CPaaS business numbers = Karix as a standalone business unit + aggregation business All financial numbers are provisional, subject to audit

1. 2. 3. 4. 5. 6. Only ValueFirst combined entities' India business; For the purpose of this presentation, we are combining the financials of the two transactions for easy understanding This indicative data on market size has been arrived at basis our internal analysis. This is our assessment and merely indicative in nature and should not be relied upon

B. Complementary customer footprint – ValueFirst leader in mid market; Karix in large enterprise

Centre of gravity

# of customers % of revenue

Revenue cohort from India customers for FY’23

ValueFirst

Karix1

No. of customers > ₹ 500 Mn

₹ 100 Mn to ₹ 500 Mn

₹ 10 Mn to 100 Mn

Total

114

Customer Cohort - Centre of Gravity  Karix: Large enterprises  ValueFirst: Mid – Market

161

221

- 22%

- 29%

- 31%

- 82%

60%

24%

14%

98%

1. Numbers for full Tanla consolidated business as on 30 June 2023 Note: For the purpose of the presentation, we are combining the financials of the two transactions for easy understanding

Serving enterprise needs | Impact case studies

Customer

Product

Use Case & Impact

A leading state owned metro rail venture in India

A leading private sector bank (among Top 5 in capital base) in India

Fast growing fashion & lifestyle brand in MENA with 200+ stores

A large public sector bank in India

E2E Booking journey created from discovery, profile creation, reservation, admin. adjacencies

172k unique passenger served in two months

Voice based virtual assistant for contact centre

Work for 200 agents automated with 300 FAQ’s automated through NLP training

Targeted promotional “Always On” campaigns

Campaigns

Significant Sales increase during festive season across multiple locations in both Arabic & English

Multiple banking services via WhatsApp to help with account management needs e.g., balance checking, statement generation etc

Digital Platforms Highlights

Enterprise Communication Highlights

Business Outcomes

Financial Outcomes

Corporate

Deepen the customer relationships - through tailored solutions & services

221 customers contributing > ₹ 10 Mn annual revenue, count up by 10% YoY in Q1

202

147

221

161

Count of customers

1.Customer segments are arrived at on a quarterly annualized basis (quarter revenue multiplied by four)

Q1 FY 23

Q1 FY 24

>₹500 Mn

>₹100 Mn- < ₹500 Mn

>₹10 Mn-<₹100 Mn

Once on board, customers expand with us

We have expanded our strategic client base from 120 to 170. Product penetration for this larger client base is at 1.87

₹500Mn+ customers revenue grew by 29% YoY in Q1

7,772

4,250

2,366

1,156

9,034

5,498

2,216

1,320

1.Customer segments are arrived at on a quarterly annualized basis (quarter revenue multiplied by four)

Q1 FY 23

Q1 FY 24

>₹500 Mn

>₹100 Mn- < ₹500 Mn

>₹10 Mn-<₹100 Mn

Customer concentration

out of 20 customers of last year continue to be in Top 20, 18 remain in Top 30

Revenue from top 20 customers (₹ Million)

59%

4,702

Q1 FY23

62%

5,621

Q1 FY24

1.Customer segments are arrived at on a quarterly annualized basis (quarter revenue multiplied by four)

Winning new logos

19%

New customers added on WA

Revenue from new customers (₹ Million)

Count of customers

1.New customers include every unique contracting entity added during the year

Q1 FY23

102

Q1 FY24

Digital Platforms Highlights

Enterprise Communications Highlights

Business Outcomes

Financial Outcomes

Corporate

Strong sequential growth in seasonally weak quarter

Revenue grew by 14% YoY in Q1, led by growth in both Digital Platforms and Enterprise communications

Enterprise communications growth driven by strong performance in WhatsApp and price increase in ILD

Digital Platforms grew by 29% YoY in Q1

28%

(2%)

14%

9,111

h t w o r g Y - o - Y

8,696

8,510

8,335

) n o

i l l i

M ₹ (

8,001

Q1 FY23

Q2 FY23

Q3 FY23

Q4 FY23

Q1 FY24

Digital Platforms & Enterprise Communications revenue growth

Digital Platforms

Enterprise Communications

29%

YoY growth

QoQ Growth

680

7,321

879

12%

YoY growth

QoQ Growth

8,232

) n o

i l l i

M ₹ (

Q1 FY23

Q1 FY24

Q1 FY23

Q1 FY24

Gross profit improvement

Gross profit grew by 30% on YoY basis. Gross margin % increased by 335 bps in Q1

Digital Platforms gross profit grew by 30% YoY, driven by Trubloq and Wisely- Network and OTT

Enterprise communications gross profit grew by 30% YoY, led by WhatsApp and better realization in ILD

On sequential basis, gross profit decreased by 99 bps due to change in revenue mix

% n g r a M

23.1

1,850

24.2

2,056

24.9

2,168

27.5

2,289

26.5

2,413

) n o

i l l i

M ₹ (

Q1 FY23

Q2 FY23

Q3 FY23

Q4 FY23

Q1 FY24

Gross margin profile

A Increase in gross margin by 335 bps YoY, decrease by 99 bps QoQ

B Digital Platforms gross margin contribution to total at 35%

Enterprise Communications gross margin at 19% in Q1

Overall margin

23%

24%

25%

27%

26%

Q1 FY23

Q2 FY23

Q3 FY23

Q4 FY23

Q1 FY24

Platforms business

96% 96% 96%

96%

97%

Q1 FY23

Q2 FY23

Q3 FY23

Q4 FY23

Q1 FY24

Contribution by platforms

16% 17% 18%

20%

19%

35%

34%

35%

Enterprise business

Q1 FY23

Q2 FY23

Q3 FY23

Q4 FY23

Q1 FY24

Efficiency metrics

EBITDA to Gross profit conversion improved by 490 bps at 76% in Q1, on back of increase in absolute gross profit

Overall indirect increased by ₹ 47 Mn YoY basis,due to salary increments and incremental spends towards Innovation and Brand

71%

76%

2,413

1,850

1,822

) n o

i l l i

M ₹ (

1,307

Q1 FY23

Q1 FY24

EBITDA

Gross Profit

EBITDA to Gross Profit conversion

EBIT profile

Digital Platforms

Enterprise Communications

69%

EBIT%

13%

EBIT%

851

1,562

609

1,049

EBIT

Gross Profit

EBIT

Gross Profit

) n o

i l l i

M ₹ (

Operating income

EBITDA margin at 20% in Q1, up 367 bps YoY

Depreciation at ₹164 Mn in Q1 FY24, as against ₹93 Mn in Q1 FY23

Incremental depreciation due to capitalization of Innovation Center in Q4 FY23

EBITDA

1,307

1,395

1,513

1,661

1,822

) n o

i l l i

M ₹ (

Q1 FY23

Q2 FY23

Q3 FY23

Q4 FY23

Q1 FY24

EBIT

1,214

1,295

1,391

1,515

1,658

) n o

i l l i

M ₹ (

Q1 FY23

Q2 FY23

Q3 FY23

Q4 FY23

Q1 FY24

Continue generating free cash flow

DSO up by 5 days to 67 in Q1

Direct and Indirect tax payouts remain consistent

) n o

i l l i

M ₹ (

1,472

718

869

(416)

(867)

Q1 FY23

Q2 FY23

Q3 FY23

Q4 FY23

Q1 FY24

Net income and EPS

Profit after tax grew by 35% YoY, due to expansion in EBITDA and partially offset by higher depreciation

Effective tax rate for Q1 at 20%

PAT

1,004

1,104

1,165

1,203

1,354

) n o

i l l i

M ₹ (

Q1 FY23

Q2 FY23

Q3 FY23

Q4 FY23

Q1 FY24

EPS grew by 36%YoY, led by profit expansion and benefitted by buyback

EPS

7.40

8.14

8.58

8.88

10.07

Q1 FY23

Q2 FY23

Q3 FY23

Q4 FY23

Q1 FY24

Return on capital employed

72%

excluding CCE as against 89% last year

32%

33%

31%

38%

34%

Q1 FY23

Q2 FY23

Q3 FY23

Q4 FY23

Q1 FY24

ROCE- Return on capital employed; CCE- Cash & cash equivalents

Strong balance sheet

₹16,549 Mn

₹8,039 Mn

72%

Strong Equity and Reserves

Cash & cash equivalents

ROCE (excluding cash & cash equivalents

Debt Free

Digital Platforms Highlights

Enterprise Communications Highlights

Business Outcomes

Financial Outcomes

Corporate

ESG update Q1 FY24

The ESG outlook evolved from an ‘initiative-based’ to ‘framework-based’ function, where we looked at DJSI Corporate Sustainability Assessment (CSA) as a key anchor to drive and strengthen strategic priorities within ESG. We formulated a dedicated ESG policy to holistically embed sustainability in the value chain and maximize positive impact on stakeholders.

Environmental

Social

Governance

Steps towards creating a greener & cleaner tomorrow

Giving back to the society and developing our employees

Scope 1,2,3 emissions calculation

Measuring Resource Efficiency & Circularity (On Energy Consumption & Water)

Conducting Human Rights Diligence & Response/Outcome Assessment

Revising Occupational Health & Safety Policy

Integrating ESG in our business

Risk Management Process, Governance Structure, Material Risks with Mitigation Plan

Appendix

Profit & Loss Q1 FY24

In ₹ Million, unless otherwise stated

Q1 FY24

Q1 FY23

∆ %

Revenue from operations

Cost of services

Gross profit

Operating expenses

EBITDA

Depreciation & amortization

EBIT

Finance cost

Other income

Profit before taxes

Tax expense (including deferred tax)

Profit after tax

Earning per share (₹)

Weighted average shares outstanding

9,111

(6,698)

2,413

(591)

1,822

(164)

1,658

(10)

1,700

(346)

1,354

10.07

134

8,001

(6,151)

1,850

(543)

1,307

(93)

1,214

(3)

1,256

(252)

1,004

7.40

136

224

Q4 FY23

8,335

(6,046)

2,289

(628)

1,661

(146)

1,515

(4)

1,559

(356)

1,203

8.88

134

Unaudited Balance Sheet June 30, 2023

June

30, 2023

March 31,2023

In ₹ Million, unless otherwise stated

June

30, 2023

March 31,2023

Property, plant and equipment

1,624

1,659

In ₹ Million, unless otherwise stated

ASSETS

Non-current assets

Platforms

Customer Relationships

Brands

Technology & Software

Non-Compete

Intangible assets underdevelopment

Goodwill

Right-of-use-lease assets

Capital work in progress

Financial assets

Deferred tax assets (net)

Other non-current assets

Total non-current assets

Trade receivables

Cash and bank balances

Other Financial assets

Other current assets

Total current assets

TOTAL ASSETS

824

102

664

1,346

713

174

148

361

760

6,785

7,247

8,039

4,434

284

20,004

26,789

EQUITY AND LIABILITIES

Equity share capital

Other equity

Total equity

874

132

Financial liabilities

566

1,346

798

149

363

785

6,777

5,700

7,116

4,203

330

17,349

24,126

Lease liabilities

Other financial liabilities

Provisions

Other non-current liabilities

Total Non-current Liabilities

Current liabilities

Trade payables

Lease liabilities

Other financial liabilities

Other current liabilities

Short term provisions

Liabilities for current tax (net)

Total Current liabilities

TOTAL EQUITY AND LIABILITIES

134

16,415

16,549

687

723

8,367

854

124

9,517

26,789

134

15,041

15,175

732

764

5,386

2,443

203

8,187

24,126

Condensed Cash flow

In ₹ Million, unless otherwise stated

Q1 FY24

Q4 FY23

Cash flow before changes in working capital

Changes in working capital

Cash generated from operations

Taxes

Cash flow from operating activities

Net investments in tangible and intangible assets

Interest and other income

Cash flow from investing activities

Issue of Shares

Buyback of shares

Dividend paid

Interest paid on lease liabilities

Cash flow from financing activities

Cash flow for the period

Cash and cash equivalents at the beginning of period

Cash and cash equivalents closing balance

1,879

(285)

1,594

(300)

1,294

(425)

(373)

923

7,116

8,039

1,683

765

2,448

(379)

2,069

(597)

(536)

(2,124)

(2,097)

(564)

7,680

7,116

Free cash flow

In ₹ Million, unless otherwise stated

Operating cash flow

Q1 FY24

1,294

Q1 FY23

965

Capital expenditure

(425)

(247)

Free cash flow

Free cash flow in percent of total revenue

869

10%

718

Free cash flow as % of PAT

64%

71%

∆ %

Q4 FY23

2,069

(597)

1,472

18%

123%

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