ROUTE MOBILE LIMITED has informed the Exchange regarding 'Transcript of Earnings Conference Call dated May 18, 2021'.

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Registered Office: Route Mobile Limited 4. Dimension, 3id floor, Mind Space, Malad (West), Mumbai - 400 064, India +91 22 4033 7676/77-99 I Fax: +91 22 4033 7650 info@routemobile.com I www.routemobile.com CIN No: U72900MH2004PLC146323

Ref No: RML/2020-21/85 Ref No: RML/2020-21/85

Date: May 24, 2021 Date: May 24, 2021

To, To, BSE Limited BSE Limited Scrip Code: 543228 Scrip Code: 543228

Dear Sir/Madam, Dear Sir/Madam,

Sub: Earnings Call Transcript - Q4 FY21 Sub: Earnings Call Transcript – Q4 FY21

National Stock Exchange of India Limited National Stock Exchange of India Limited NSE Symbol: ROUTE NSE Symbol: ROUTE

We are enclosing herewith copy of the transcript of the Company's Q4 FY21 earnings conference call We are enclosing herewith copy of the transcript of the Company’s Q4 FY21 earnings conference call i.e. dated May 18, 2021. The dated May 18, 2021. The i.e. www.routemobile.com under the Investors section. www.routemobile.com under the Investors section.

the Company’s website transcript transcript is also available on the Company's website

is also available on

You are requested to take the above information on record. You are requested to take the above information on record.

Thanking you, Thanking you, Yours faithfully, Yours faithfully, For Route Mobile Limited For Route Mobile Limited

________________________________ Rathindra Das Rathindra Das Head Legal, Company Secretary & Compliance Officer Head Legal, Company Secretary & Compliance Officer

End: as above Encl: as above

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“Route Mobile Limited Q4 FY-21 Earnings Conference "Route Mobile Limited Q4 FY-21 Earnings Conference Call” Call"

May 18, 2021 May 18, 2021

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ICICI Securities

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P U S.CA

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MANAGEMENT: MR. RAJDIP GUPTA – MANAGING DIRECTOR AND MANAGEMENT: MR. RAJDIP GUPTA - MANAGING DIRECTOR AND

GROUP CEO, ROUTE MOBILE LIMITED GROUP CEO, ROUTE MOBILE LIMITED MR. GAUTAM BADALIA – CHIEF STRATEGY OFFICER, MR. GAUTAM BADALIA - CHIEF STRATEGY OFFICER, ROUTE MOBILE LIMITED ROUTE MOBILE LIMITED MR. SURESH JANKAR – CHIEF FINANCIAL OFFICER, MR. SURESH JANICAR - CHIEF FINANCIAL OFFICER, ROUTE MOBILE LIMITED ROUTE MOBILE LIMITED MR. JOHN OWEN – CEO, EUROPE AND AMERICA, MR. JOHN OWEN - CEO, EUROPE AND AMERICA, ROUTE MOBILE LIMITED ROUTE MOBILE LIMITED MR. MILIND PATHAK – CHIEF BUSINESS OFFICER, MR. MILIND PATHAK - CHIEF BUSINESS OFFICER, ROUTE MOBILE LIMITED ROUTE MOBILE LIMITED MODERATOR: MR. HARDIK SANGANI – ICICI SECURITIES MODERATOR: MR. HARDIK SANGANI - ICICI SECURITIES

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Route Mobile Limited ROLde Mobile Limited May 18, 2021 May la, 2021

Moderator: Maderstan

Ladies and gentlemen, good day and welcome to Route Mobile Limited Q4 FY21 earnings Ladies and gentlemen, Rood day end welcome to Route Mobile Limited Q4 RY21 earnings

conference call hosted by ICICI Securities Limited. As a reminder, all participants’ lines will be cemferenoe call hosted by IOCI Sectritin Limited. As a re mirde r. all psrticipsots' lira will be

in the listen-only mode and there will be an opportunity for you to ask questions after the m the li.ten-only mode end tier' will be an opporamay fbr you to ask questions after the presentation concludes. Should you mod assitanoe during the confirm= call please signal an presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing ‘*’ then ‘0’ on your touchtone phone. Please note that this conference is operator by pressing ' 111 der '0' on your touchtore placer. Please rote that this conference is

being recorded. I now hand the conference over to Mr. Hardik Sangani from ICICI Securities. being recorded. I new hard the conference over to Mr. Hardik Sangani from ICICI Seowties.

Thank you and over to you sir. Thank you end over to you sir.

Hardik Sangani: liardlk Sanaa:I:

Thank you, Neerav. Good evening everyone. I would like to welcome everyone to Route Mobile Thank you. No ensv. Good owning everwre. I Would like to welcome everyore to Rine Mobile

Q4 FY21 earnings conference call. I would like to thank the management of Route Mobile to Q4 RY21 earninp conference cell I Would like to thank the management of Rat Mobile to

give US the opp cranky fbr hating they Q4 earnings cell. We have with us the leadership teem give us the opportunity for hosting their Q4 earnings call. We have with us the leadership team

from Route Mobile, Mr. Rajdip Gupta – Managing Director and Group CEO, Mr. Gautam from Rate Mobil:. Mr. Rajdip Gupta — Managing Dirootor end Group CEO. Mr. GaAam

Badalia – Chief Strategy Officer, Mr. Suresh Jankar, Chief Financial Officer, Mr. John Owen – Sedalia— OfiefStraingy Offerer, Mr. Suresh Jen1nr, Crier financial Officer. Mr. John Owen —

CEO. Europe end America. end Mr. :Kilted Freak— Ofieffiusineis Officer. CEO, Europe and America, and Mr. Milind Pathak – Chief Business Officer.

Before we begin, I would like to remind you that some of the statements made in today's earnin Refire we begin. I would like to remind you diet Kant of the stab:rants made in today's ramie

p oall may be fbrward looking m retwre end may involve certain risks and ureertaintis. IeircIl gs call may be forward looking in nature and may involve certain risks and uncertainties. Kindl

y refer to slide no. 2 of the presentation for the detailed disclaimer. I will now request to Mr. Ra y refer to slide re. 2 of the presentation fbr the detailed disclaimer. I will row request to Mr. Ra

jdip to provide brief remarks on the company's performance and future outlook before jdip to provide brief remarks on the company's perfirmsree and Raise cake& befbre

the management teem walks Ns through the firencisl details of Q4 FY2I results Over to the management team walks us through the financial details of Q4 FY21 results. Over to

you Rajdip Sir. You Ftddil: Sir*

Rajdip Gupta: Rajdlp Gupta:

Thanks, Hardik. Good evening everyone. I hope all of you and your families are safe during Thanks, Herdik. Geed evening everyore.nxer all of you and your fieeilies are safe during

these unprecedented times. I believe we all have been hit hard in some way or another by this dime unpre clod:flied tiers. I believe we all have been hit hard in some way or anode, by this

last wave, but we all continue to power through as things get better, especially with the Tat wave, but re all continue to power through m things get beam. especially with the

vaccination drive. vaccination drive.

From a company standpoint, while we always hope for the best, we always prepare for the worst. limineutarcenY text& whft we always hope trek best. we always prepare fir di: worst. That preparedness has ensured that our business has been resilient to the current prices. We had That preparedress has ensured that ow busiress has been resilient to the cwrent prices. We had

very limited impact on our business continuity perspective. Our teams continue to function very limited impact on ow business continua,/ perspective. Ow trams continue to friction

normally around the clock and the business as usual for our customers and partners. As a leading =rosily rand the clock and the busiress m usualfir ow .starers end partners. As a loading

global CPaaS company, our business model and practices backed by the increased digital global CfisaS company. ow business model and practices backed by the increased digital

adoption by enterprises have fueled our superlative growth in financial year 21. We continue to adoption by enterprises have fUeled our superlative growth in financial year 21. We contimx to

wizen wry strong momentum ring it RY22. To a fuel our growth into the We tern witness very strong momentum moving in FY22. To help fuel our growth into the Western

hemisphere, we have added Mr. John Owen to the RML team as a CEO for Europe and America. Semispbere. we have added Mr. John Owen to the RML Camas a CEO fir Europe and America.

John track record speaks for itself and he is going to be instrumental as we expand globally. John track record ;:oaks te idol£ and he is going to be instrumental as we expend globally.

Under his leadership. we will increase our team strength m Etrepe and America. to ensse we Under his leadership, we will increase our team strength in Europe and America, to ensure we

have a presence end skill at to re die big enterprise client within various other regions. We have a presence and skill set to serve the big enterprise client within various other regions. We

continue to invest in our infrastructure to ensure its robust, efficient, and scalable at a moment continue to invelt in our irdiragrUCtire to OM= its robust efficient. and scalable at a moment

of notice. of notice.

We are continuously enhancing our security measures to ensure that we protect our customer We are continuously onlisnoing ow wority =asses to ensure that we protect ow oaten=

data at all times. With these and other future initiative planned, the future is looking brighter data at all times. With these end otter BAUM initiative planned. VC Atte is Iceking brighter

Page 2 of 19 Page 2 of 19

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Route Mobile Limited Route 1.436le Limie-d May 18, 2021 May 18, 2821

than ever fi r RML and far all at itakeholders. As apublic listed company. we firmly believe than ever for RML and for all our stakeholders. As a public listed company, we firmly believe

that we are responsible to all stakeholders, including employees, customers, and the that we ere responsibk to all stakeholders. including empbyees. rust aw% and the

environment. Thus, we are committed to integrate various environmental, social and governance environment:Thu% wv ere committed to integrate various environmental. social end governance

ESG consideration into our business decision-making processes across all services and product ESC consideralaon into our business decision-making processes scrams all services end product

offering to positively impact the environment, our customers, employees, and the community at offing to post ...rely impact the environment, ourcusthmers. employees. end the commuray at

large. At RML, ESG initiatives and principles will be aligned to our CSR initiatives, which leggz. At WAIL FSG initiatives and principles will be aligned to ow CSR initiatives, which would complement with our strategic goals in terms of services we seek to offer our stakeholder. would complementwth ow Wategb goals in terms of services we seckto oft r ow stakeholder.

The ESG policy framework will serve as a guiding document to all our CSR initiatives and other Ten ESOpo hay framework will serve as a guiding document to all at CSR initiatives and other

operational activities undertaken by us and will integrate it to the operations of our subsidiaries openitionsl activities undertaken by us end will integrate k bo the operations of ow subsidiaries

and associates across the globe. end associates across the glebe.

With respect to the inorganic growth, we acquired TeleDNA operator stack in FY21 to bolster With rowed to the inorganic growth. wv acquired TeleDNA operator :back in FY21 to bolster

our operator offering with 365squared. Further, we have recently signed definitive agreement to our operator oftbring with %Swayed. Further, we haw recently signed deflnkive agreement to

acquire Phonon. This acquisition will help transition our journey from CPaaS to CX Paas acquire Phonon. lhis acquisition will help transition our journey From CPaaS to CX It

providing one-stop shop solution to our customer for any and all communication channels in the providing one-sip shop satins to at wiener tar any and all comamicadon channels in the

core component of our success and we further enhance our offering with Phonon suite. core comporont of ow success end we tether enhance our of with Phonon suit.

In terms of our financial performance for FY21, we have overachieved whatever we had In terms of ow financial pc rfbrrnance fbr FY2 I. we have overachieved whakiver we had

promised during our IPO. We have demonstrated an industry leading revenue growth of 47% in promised during at IRO. We have demonitratad an ixlustry leading revenue growth of 47% in

FY21, coupled with significant expansion of margin, especially the margin expansion in Q4 FY21. coupled with significant expansion of margin. esecciellY the mares exclaim in Q4 2021 is noteworthy. The business has also demonstrated very strong free cash flow generation 2021 is totzworthy.The businoms has also demonstrated very Wong Free cash flow generation

in FY21. Despite the uncertain times and the brutal second wave, we continue to be very in FY21. Dap* the uncertain times and the brWil second waw. we continue to be wry

optimistic about our business prospect. We will endeavor to achieve over (+) 20% revenue optimistic aboW our business prosixct. We will endeavor to achieve over (+) 20% reionue

growth rate in FY22. growth rate in FY22.

With this I request Gautam and team to highlight our financial performance for Q4 FY21 and With this I requist Glatt= and team to highlight our fineexrialperlbernanoe fi r Q4 FY21 and

FY21, over to you Gautam. FY21. over you Gallant

Gautam Badalia: Ginitsm Radatim:

Thank you Rajdip. Good evening everyone. Hope you and your family are safe and fine during Thank Sou Reedip. Good evening everyone. }Iwo you and your fizamly ere sak and fine during

this uncertain and unprecedented times. this uncertain and unproordentod times.

Just as an update, we have already uploaded our earnings presentation on our website as well as Just as an update. we have already uploaded at earnings presentation on our wobsit as well es

cm the Prick exchange ,atria. Hope you had a chance to go than ugh dic presentation. rt1 quickly on the stock exchange website. Hope you had a chance to go through the presentation. I'll quickly summaries our financial porermeoroo thr the year gone by end in Q4 FY21 bait= we opened summarize our financial performance for the year gone by and in Q4 FY21 before we opened

the floor for Q&A. the floor kir Q&A.

Just as a backdrop, we have been facing this unprecedented crisis for over a year now and as an Just as a backdrop. we have been flying this unprecedented crisis fly over a year now and as an

organization, I must say we have been very agile, resilient, and adaptive in our approach. Our organization. I nest say we haw been very agile. resilient. end adaptive in at approach. Ow

strong financial performance in FY21 is a testimony to that. Coupled with the strong industry strong financial pc rftemanoe in FY21 is a testimony to that. Coupled wkh the Wang industry

tailwinds wherein we witnessed enterprises rapidly adopting digital technologies. We believe tailwinds wherein we witnessed enterprises rapidly adopting &flea technologies. We believe

such a rapid migration to digital technologies is here to stay. As a leading global CPaaS such a rapid migration to digial trchrologies is here to say. As a leading global CPaaS

company, there is a big runway for growth. With that I'll kind of touch upon the key take away company. there is a big runway kir growth. With that fill kind of touch won the key take away

from the quarter gone by. From the quyter gone by.

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Route Mobile Limited Route lobbile Limite-d May 18, 2021 1.4sy 18, 2O21

In terms &OS: key takeaways from our financiolperilarmance: In terms of the key takeaways from our financial performance:

In Q4 FY21, it has been the rapid expansion of our gross margin from 18% in Q3 FY21 to 22% In Q4 FY21. k has been the rapid oxpensicn of our gross margin Prom 18% in Q3 FY21 to 22% M Q4 FY21. In Q3 FY21 we had taken some hit on account of the increase in cosh owing to in Q4 FY21. In Q3 FY21 we had taken some hit on account of the increase in costs owing to

DLT. In this quarter we have been able to pass through the increase in cost, owing DLT to our DLT. In this quarter we haw been able to pass through the inures,: in cost. owing DLT to our

customers, which has been a big contributor for such gross margin expansion. However, a word o= ann. which has been a big coal:rib-air Par much gross margin expensicn. Hawn or. a word

of caution, since this DLT implementation is a structural change and as we speak, there are still of orpAion. since this DLT implementation is a structural change and as wo speak. there are

some teething issues from an enterprise standpoint, the overall industry volumes may get some teething issues from an anteprise sbsrdpoirt. the overall ixkubry wlumes may get

impacted in the short term. but from a long-term porp:ctivo. k rosily augurs well fir the impacted in the short term, but from a long-term perspective, it really augurs well for the

industry. ixkubry.

From our international revenue perspective: From our internatical revenue perspective:

The volumes in certain marmots like Totem and select markets in Middle East and Africa were The volumes in certain markets like Latam and select markets in Middle East and Africa were

impacted in Q4 FY21 owing to the brutal second waw. So. that kind of IS to some volumes impacted in Q4 FY21 owing to the brutal second wave. So, that kind of led to some volumes

coming off in some of thew markets. And from an overall billing persimative this quarter this coming off in some of these markets. And from an overall billing perspective in the quarter this

quarter had two less days than the previous quarter. Since our business model is on a transaction quarter had two less days than the previous quarter. Since our business model is on a transaction

basis, so those two days attributed to some fall in the revenue in the quarter vis-à-vis in the basis. so thou two days 8.0rib-end to some fall in the revenue in the quarter vis-&-vis in the

previous quarter. We continuo to witress vary strong momentum on the next generation previous quarter. We continue to witness very strong momentum on the next generation

products. We believe our pursuit of focusing on the next generation products through our products We believe our puma of &toning on the rat generation products through our

dedicated team. We have Milind from the team who heads the next generation of the products dedicated tram. We have Milord from the tram who heads the rat generation of the products

initiadw from our side. Ibis dedicated tram drives the organic growth and that coupled will our initiative from our side. This dedicated team drives the organic growth and that coupled with our

inorganic strategy will drive our margin expansion further. The recent acquisition of Phonon inorganic strategy will drive our margin expansion firths. Ter recent acquistiicn of Phonon

subject to meeting certain closing conditions is a step in that direction. subject to meeting pertain closing condition instep in that direction.

With this backdrop let me walk you through our financial performance: With this backdrop let me walk you through our flnencialperfirmance:

In terms of Qd perfirmanoe. revenue Prom operations grew by 36.4% From 2658 million in Q4 In terms of Q4 performance, revenue from operations grew by 36.4% from 2658 million in Q4

FY20 to 3624 million in Q4 FY21. However. there was a sequential do-growth of 5.8% due to FY20 to 3624 million in Q4 FY21. However, there was a sequential de-growth of 5.8% due to the reasons meat:reed above essentially some markets like imam and Nixidle East and Africa the reasons mentioned above essentially some markets like Latam and Middle East and Africa

gdting impacted marginally. Just wanted to highlight one importantwok historically Prom our getting impacted marginally. Just wanted to highlight one important aspect, historically from our

trends, Q3 always happens to bo the boit quarter and Q4 usually is the second-best quarter. So. trends, Q3 always happens to be the best quarter and Q4 usually is the second-best quarter. So,

Prom a sequential do-growth pep:dim while some of thou other markets could have from a sequential de-growth perspective, while some of those other markets could have adribubcd beer, to the growth, but wo are reasonably satisfied will the kind of growth that wo attributed better to the growth, but we are reasonably satisfied with the kind of growth that we

have garnered in Qd FY21. have garnered in Q4 FY21.

In terms of some key stets: In terms of some key stats:

Billable transactions decreer d marginally from 8.81 billion in Q3 FY21 to 8.76 billion in Q4 Billable transactions decreased marginally from 8.81 billion in Q3 FY21 to 8.76 billion in Q4 FY21 and averago realization perbillable transaction decreasod from Rs 0.437paisain Q3 FY21 FY21 and average realization per billable transaction decreased from Rs. 0.437 paisa in Q3 FY21

to Rs. 0.414paisa in Q4 FY21. This largely is on account of change in country mix. Cirossprofft to Rs. 0.414 paisa in Q4 FY21. This largely is on account of change in country mix. Gross profit

margins expendod Prom 17.7% in Q4 FY20 end 18% in Q3 FY21 to 22%. So. tin was a sheep margins expanded from 17.7% in Q4 FY20 and 18% in Q3 FY21 to 22%. So, there was a sharp increase in the gross pro& margin fir reasons articulated above. EMMA. grew by a whopping increase in the gross profit margin for reasons articulated above. EBITDA grew by a whopping

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Route Mobile Limited Route Mobile Limited May 18, 2021 May 18, 2021

105% from 251 million in Q4 FY21 to 515 million in Q4 FY21. ERITDA margin 0 XPenSiOn 105% from 251 million in Q4 FY21 to 515 million in Q4 FY21. EBITDA margin expansion

from 9.5% in Q4 FY20 to almost 14.2% in Q4 FY21. Similarly adjusted profits for tax grew by from 9.5% in Q4 FY20 to almost 14.2% in Q4 FY21. Similarly adjuted profits ter tax grew by

127% from 174 million Q4 FY20 to 394 million in Q4 FY21 as compared to 416 million in Q3 127% from 174 million Q4 FY20 to 394 million in Q4 FY21 m tampered to 416 million in Q3

FY21. Adjusted PAT margin again awarded from 6.5%in Q4 FY20. end 10.6% in Q3 FY21 to FY21. Adjusted PAT margin again expanded from 6.5% in Q4 FY20, and 10.6% in Q3 FY21 to

10.9% in Q4 FY21. 10.9% in Q4 FY21.

Movies on to the financial year FY21 perftcmarce: Moving on to the financial year FY21 performance:

Revenue from operations, as Rajdip highlighted, we demonstrated an industry leading growth Revenue from operations as Reedip highlighmel so demonstrated en industry leading growth

of 47% from 9563 million in FY20 to 14062 million in FY21. In terms of certain KPIs, billable of 47% from 9%3 Alton in FY20 to 14062 million in FY21. In berms of certain 11-Pis brlleble

insane:ions increased from 30.32 billion in FY20 to 32.31 billion in PY21. Average realizations transactions increased from 30.32 billion in FY20 to 32.31 billion in FY21. Average realizations

per billable transaction increased from Rs. 0.315 paisa to Rs. 0.435 paisa during the same period. per billable transaction increased from Rs. 0.315 poise to Rs 0.435 pain during the sameporioi.

We had a net revenue retention of (+) 140% in FY21. There was zero churn in our top 50 We had a rot revenue retention of (+) 140% in FY21. There was zero churn in our top 50

customers. which accounted ter 86% of our revenue in FY21. We added about 410 row customers, which accounted for 86% of our revenue in FY21. We added about 410 new

customers during this financial year. Gross profit margin on a full year basis steadied around =timers during this financial war. Gross proft margin on a fall year basis toadied around

20% for both the financial years. EBITDA grew by 76% from 1 billion in FY20 to 1.75 billion 20% ter both the financial wars RolTDA grew by 76% film 1 billion in FY20 to 1.75 in a FY21. In tams of operating leverage ERITDA as a woe Mtge of gross proft expanded in a FY21. In terms of operating leverage EBITDA as a percentage of gross profit expanded

from 52% in a FY20 to 63.4% in PY21. This was reflected in the expansion of REHTDA margin from 52% in a FY20 to 63.4% in FY21. This was reflected in the expansion of EBITDA margin

as well from 10.5% in FY20 to 12.5% in FY21. In terms of ETR, the effective tax rate for FY21 as seen from 10.5% in FY20 to 12.5% in FY21. In terms of Frt, the effective tax rate ter FY21

was 17.8% an 16.1% in MO. Adjutod proft fir tax grew by 84% floor 799 million in was 17.8% versus 16.1% in FY20. Adjusted profit for tax grew by 84% from 799 million in

FY20 to 1459 million in FY21. thereby leading to expansion of PAT margins from 8.3% to FY20 to 1469 million in FY21, thereby leading to expansion of PAT margins from 8.3% to

10.3% in the erne period. -Tho not cash as on 31st. March 2021. was 4642 'Milian. We 10.3% in the same period. The net cash as on 31st, March 2021, was 4642 million. We

demonstrated very strong free cash flow generation, something that we have transitioned over demonatmbid very strong free assli flow proration. something that we haw trona:ired over

the last two years Cash flow from operations to ERITDA was 131%in PY21 as against 94% in the last two years. Cash flow from operations to EBITDA was 131% in FY21 as against 94% in

a MO. We onboarded 91 row ItmLibm. So. 91 row hires despite the pandemic, including few a FY20. We onboarded 91 new RMLites. So, 91 new hires, despite the pandemic, including few

senior management hires. Attrition rate has steadied and has fallen from 19% in FY20 to 11% from 19% in FY20 to 11% senior maregement hires Attrition rate has steadied and has

in FY21. Ard I think the board liasprqmsed a dividend of Rs. 2por ©gay share piper value of in FY21. And I think the board has proposed a dividend of Rs. 2 per equity share of par value of

Rs. 10 each, so 20% dividend rate. Rs. 10 each. so 20% divided role.

So that's a wick update on. the financial pefirmanoe of Q4 FY21 end FY21. fall war. With So that's a quick update on, the financial performance of Q4 FY21 and FY21, full year. With

this, you open the floor for Q&A. this, you open the flow fbr

Moderator: Meander:

Thank you very much. The first question is from the line of Hardik. Thank you very mach. TS: first question is from the lino of Hardik.

Hardik:

I have a couple of questions. Firstly. in terms at John getting inducted into the maregament. so I have a couple of questions. Firstly, in terms of, John getting inducted into the management, so

just wanted to know how are we placing and what are our plans for this year in terms of customer jai want:AM know how are !replacing and what ere ourplans fir this year in terms of customer

acquisition in Europe anti Ame rim? Ard if there ere any investments which we will be requiring. acquisition in Europe and America? And if there are any investments which we will be requiring.

Socordly. in terms of the weakness which was there m Q4 end particularly in terms of Latism Secondly, in terms of the weakness which was there in Q4 and particularly in terms of Latam

anti some African rations do we expect that to continue going ahead as wells roar term? And and some African nations, do we expect that to continue going ahead as well in near term? And

thirdly, the net retention rate is quite healthy at 140% actually. Do we see that coming off in next thirdly. the rct retention rate is quite Smithy at 140% actually. Do we sex that comirg off in mitt

yearend islet can be the normal lifii level which can be expected? Ard last qxstion it tan= of year and what can be the normal life level which can be expected? And last question in terms of dc client to growth which has been shovel in Pi7r like 77 CACHE growth owr kat throe years. the client to growth which has been shown in PPT like 7% CAGR growth over last three years.

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Rajdip Gupta: Rase:

Route Mobile Limited Route kb&le Limie-d May 18, 2021 May 98.2029

Just wanted to chock. why the client has a below average growth? win it have any impact going Just wanted to check, why the client has a below average growth? Will it have any impact going forward? tbrward?

Let me start with and I think then John and Gautam can also pitch in. So, in terms of volume de- Let= start with end I think then John and Oa'Samoan alsopitth in. So. in berms of vokeine do- growth ewe ice we as a company in the last garter started towing more on our gross margin growth if we see, we as a company in the last quarter started focusing more on our gross margin and I think the gross margin increase is a key for RML in coming quarters also. We will try to end I Oink the gross margin bream is a key fix RML in corning quarters also. We will try to

Sous more on increasing our gross margin with some kind of Sousing more on a product lino focus more on increasing our gross margin with some kind of focusing more on a product line

of voice, WhatsApp, RCS, or this kind offering. I think if you talk about our investment plan in of voice. WhatsApp. RCS. or this kind affixing. I think if you talk about our invesdnent plan in

Europe and US, I think we are definitely looking out to increase our strength in terms of our Europe and US. I think we ere definitely looking out to increase ow strength in tan= of our

people. Since John is joined in UK, now we would build definitely very dedicated sales team in peopk. Since kilns is joined in UR. row we would build definitely very dedicated sales beam in

the UR. Europe as well as in US. ltees what I can secy. Apart from that I think we also tit some the UK, Europe as well as in US. That's what I can say. Apart from that I think we also let some

of the customers go because there was low margins in last quarter, because their volumes was of the =Marrs go bemuse there was low margins in but garter, bemuse their volumes was

little bit high, but their margin was very low. I think we preferred not to serve those kind of tilde bit high. but their margin was very low. I think we prof oat not to serve those kind of

customers in this quarter which led to our gross margin de-growth. As a company, I think, we =tamers in this quarter which led to our gross margin do-growth. Asa company. I think. we

would like to give guidance to all our stakeholders that we will focus more on our gross margin would like to give guidance to all our stakeholders that we will lbws more on our gross margin

increase in coming days rather than just a volume increase. Gautam, you can add. increase in coming days rather than just a yob= increase. Gautam. you can add.

Guclam Nadal* Gautam Badalia:

Thanks, Rgjdp, Hardilo think you had a query on net retie tics rate of 140%. Frulorically fiar Thanks, Rajdip. Hardik, I think you had a query on net retention rate of 140%. Historically for

the last 2-3 years, we have kind of been witnessing a net retention rate of over 120%. From that the ]at 2-3 years, we have kind of been witnessing a net retention rate of over 120%. From that

perspective. since we are servicing alot of this quality CU /tan= through a 'Arid-ChM pleibrm. perspective, since we are servicing a lot of this quality customers through a world-class platform,

unless there are some structural changes that happen in the industry, we don't see this net =ilea thore are some structural changes that happen in the industry. we don't sae this not

retention rate coming off in a big way. There is a high degree of stickiness with the clients that retention rate coming off in a big way. There is a high degree of stickiness with the clients that

we work with. In terms of the specific reference to a client where you refer to that growth rate we work wi.h. In terms of the specific reference to a client where you refer to that growth rate being 7%. essentially if you look at that particular cham that client is oro of the largest social being 7%, essentially if you look at that particular client, that client is one of the largest social media companies and we have been kind of servicing them fbr over Sur years row and that media companies and we have been kind of servicing them for over four years now and that

client continues to grow and it has reached a stage of maturity at this point in time. But having client continues to grow and k has reached a stage of maturity at this point in time. Fiat having

said that. as Rfddip highlighted John will hap us perotrab: into rower markets in US. Latta said that, as Rajdip highlighted, John will help us penetrate into newer markets in US, Latam

and Europe. So. that is whore we envisage the at kg of growth coming in fir that particular and Europe. So, that is where we envisage the next leg of growth coming in for that particular

client. So, Hardik does that answer all your queries now? client. So. Hard& does that answer all your queries row?

Rajdip Gupta: Rajdlp Gupta:

John you want to add something out here? John you want to add something out hare?

John Owen: Jahn Owan

Welcome to everybody. I have been here 24 hours now and got a warm welcome. So, thank you. Welcome to everybody. I have boon here 24 hours row end got a warm welcome. So. thank you.

What I will say to the numbers and it’s obviously very early for me but the reason I joined Route What I will say to the numbers and is obviously very early fbr me but do reason I joined Route

Mobile is because the fundamentals are incredibly good, great market, it’s going to grow and Mobile is because the fUndemenbals ere incredibly good great market. is going to grow and

great team and we are creating value and I think that's what CPaaS is going to do, particularly great boom and we are creating value and I think that's what CReaS is going to do. particularly

when you are driven by things like the internet of things and 5G, we create value new business when you are driven by things like the interixt of things and 56. we create value row business

models. I think what we have got to do when we have started on that transition is move our models. I think what we have got to do when we have started on that trans too is move our

revenue profile which Rajdip just talked about into those more enterprise customers on a global revenue profile which Raj* just talked about into thou more enterprise =Somers on a gbbal

basis particularly into those more mature markets where we can attract a better revenue profile. basis particularly into those more mature markets whore we can attract a better revenue profile.

There's been a conscious dcaision by the team to move away from the commodkizedsbseC which There's been a conscious decision by the team to move away from the commoditized stuff, which

is good fie revenue. but rot good fir margin. What I will say in my 24 hours is our abilky to is good for revenue, but not good for margin. What I will say in my 24 hours is our ability to

compete and win is really strong. It's now about allocating the capital of our business into the compete and win is really strong les now about allots the capital of our business Mb the

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markets we want to grow in, the products we want to go in and if you look at some of the slides, markets we want to grow in. the products we want to go in and if you look at some of the slides.

the impact we have had for new product revenue within the last 3-4 quarters is really strong and de impact we have had far new product revenue within the IS 3 -4 quarters is really sting end that momentum will continue. But it comes then to building an executable plan and making some that moment= will continue. &Steen= then to building an exe :sable plan end making some

conscious decisions about which markets, which products and where we want to put our money. conscious decisions about which markets, which products and where wv want to put our money.

But we do have the ability to both organically grow and accelerate that within an inorganic place. Bet we do have the ability to both organioslly grow end accelerate that within en inerganicplaae.

For me, massive upside, it's about moving the company and transforming it as we operate. But For mo. massive upside. is sheet moving the company and transfarming it as we operate. WA

we look at the fundamental year-on-year really strong and next year there's no reason why that we bok at the fUndemontal year-on-year really strong and rat year there's rCI reason why that

wouldn't be any different as the guidance suggests so. I am pleased to be here, but it's a bit early wouldn't be any el:Bs:rent@ the guidance suggests so. I =pleased to be lyre. but it's a &keenly

to give you some material direction. to give you some material direction.

Rajdip Gupta: Wojcik) Gupta:

Thanks John. milind if you can on new product side. Thanks John. Milind if you can on new product side.

Milind Pathak: mand Patbalo

Thanks, Rajdip. I think from a new product perspective in the last three months, we have Thanks, Rajclip. I think from a new product perspective in the hat three mats. we have

progressed well. We have structured in progressed well. We have structured in a very careful manner. We have done a detailed analysis carefUl manner. We have done a detailed analysis

of product market fit, right from what messaging channel is prominent in which continent and of product market fit. right from what messaging channel is prominent in which continent and

which country, we are very-very clear about it. The product teams are as we speak and as the which country. wv ere very-very clear aka it The product teams ere as wv speak end as the

days and the weeks goes on, are ensuring that we are able to deliver a product market fit for a days and the weeks goes on. ere enuring that we ere able to deliver a product market ft far a

client in that relevant geography with the channel of his choice. So, if in some market Viber is client in that relevant geography with the channel of his choice. So. if in some market Vibe, is

more popular or Facebook Messenger is more popular or RCS is more popular or MMS is more more popular or Ram book Messenger is more popular or RCS is more popular or MimS is more

popular, we are equipped to handle that delivery and the terminations of a channel for our client. popular. we =equipped to handle diet delivery and the terminal: km of a cannel fix our client

Not only that we have also strengthened our email offering. We have also strengthened multiple Not only that we have also strengdxned our email oaring. We have also seengthened nultiple

offering within marketing automation and as the quarter rolls in, as we roll into the new year, offering within marketing automation end es the quarter rolls in, as we roll into the new year.

we are continuously pushing our sales guys with more and more products into their arsenal. So, we are continuouslypu:shing oursales guys with more and more products into their arsenal. So. I think overall our product roadmaps is quite well defined and quite healthy for our salespeople I think overall our prixluct roadmaps is quiz well defined and quit healthy far our salomxople

across the geographies to kind of go sell or upsell or cross-sell to ether our existing abet or across the geographies to kind of go sell or upsell or cross-sell to either our existing clients or

find and hunt new clients, both the perspectives. find and hunt new clienq both the perspratives

Moderator: Maderator:

The next question is from the line of Varun Goenka from Nippon India. The next question is from the line of Verun Cranks fromNippon India.

Varun Goenka: Vain G.s'a:

Thank you for the opportunity and congratulations to Mobile team on a very good FY21 despite Thank you extboopporturay end congratulations to Mobile loam on a very rod FY21 de a3it

all the chaos going around. Wekome John to come to aboard. I think de bait we expect is that all the chaos going around. Welcome John to come to aboard. I think the least we expect is that

you just continue what you did at Mastek and let's hope this is just a new beginning. So, I had you just continuo whet you did at Mast= end lees hope this is just a new beginning. So. I had

two broad questions Mr. Gupta, Gautam Ji is I think our presentation has added a few additional two broad questions Mr. Gupta GeetamJi is I think =rpm:unladen has added a few additional

details Thank you so much fix that end that is our aging analysis of the working espial Het details. Thank you so much for that and that is our aging analysis of the working capital. But

what I wanted to understand was in terms of our sectoral mix of revenues, either from a what I wanted to understand was in terms of our :Moral mix of revenues. ether from a

technology, BFSI or different sectors that we look at, where does the composition stand today? (=brake. BRSI or difftrent linen that we lank at. whore don the composition stand today?

And if we could have some insight end opinion tam you as to what is the volume growth in And if we could have some insight and opinion from you as to what is the volume growth in

each of the sectors, what are the drivers of gross margins there for the next 3-5 years that would each of the sectors. what ere the drivers of gross margins them fbr the rat 3-5 years dart would

be exciting to understand from a long-term perspective. be outing to understand from a long-thrmpersixctive.

Rajdip Gupta: Wojcik) Grata:

Thanks Varun. We will definitely try to take care of this maybe in our next presentation, but Thanks Vann. We will definitely try to take ore of this maybe in our next proscntadco. but

dean if you can just add on this. Gautam if you can just add on this.

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Gautam Badalia: Groton Bodatia:

don: sane basic arelyis I think Ni tell largely revenue comes from de top 15 Sure. I have done some basic analysis I think I'll tell largely revenue comes from the top 15 Sure. I clients which accounts for close to 45%-50% of the revenue. Largely the revenues would be split clients which 505OX43 fbr close loo 55%-50% the went. Largely the revenues would be ;tit

between internet and social media companies, BFSI would form a big chunk of this between intend sad social media companies. RFSI would tern a big chunk of this concentration. We have OEMs and handset manufacturers. We have retail industries and concentration. We haw OHMS and handset manufictuters. We haw retail industries and

fortunately this time we also have one travel and aviation company. So, it is quite a widespread, fbrbaretely this time we also haw one tnsvel and aviation company. So. k is quite a widespread.

but we will make a note of your point and we will try and ensure that we give some flavor of but we will make a mote of your point and we will try end ensure that we give some flavor of

industry verticals and the volumes across these industry verticals in our subsequent industry verticals and the volumes across trine industry verticals in our subanwint

presentations. presentations.

Varun Goenka: Ninon G.s'a:

Just to further dig into this key, which industries had the maximum impact of this DLT this key. which industries had the maximum impact of this DLT Jut to bear dig it

regulations and how are they shaping up or towards normalization. Of course, my third point of regulations and bow are trey shaping up or towards normalization. Of course. my third point of

key, where are the areas of gross margin improvement? What are the key drivers of gross margin key. whore are the areas of grass margin improvement? What are the key drivers of grass margin

improvement? improvement.?

Rajdip Gupta: Mai :

Let me just answer that question. First of all, I think when you talk about the DLT let me just answer that question. Rut of all. i think whin you talk that the DLT

implementation and the impact, so I think DLT has impacted almost every segment in India, like implementation and the impact. so I thinkDLT has nested trot every segment in Irdis. like

when the initial implementation was done and it was a chaos, in fact you know the OTP was not usher the initial implementation was doe and k was a clans, in fed you know the OTP was tot

delivered for a day or two and all of a sudden, the TRAI has to roll back the whole guidelines. delivered %racily or two and an of a sudden. the TRALI has to roll beak the whole guideline.

But I think the impact initially to share, it has impacted almost all the verticals, but the major Rut I think the impact Mitially to share. k bes impactxd unit all the verticals. but the rosjor

one is like your banking sector during that time. And it took almost 15 to 20 days to make sure co: is like your banking soder during that time. An:Ike& almost 15 to 20 dap to make sure

everything goes normal. We do see now things are getting better, if not 100% but at least 90% everything goes normal. We do lee now things are getirg bettor. if not 100% but at bat 90%

to 95% the proper implementation of DLT and most of the enterprises they adopted the DLT to 95% the proper implemenbstion of DLT and most of de enaxprises trey adopted the DLT

guidelines. And in terms of our gross margin if you see, DLT is definitely playing a big role, widplimak And in ten= of our gross margin if you see. DLT is definitely playing a big role.

apart from that some of the OTT players, like where we have increased the cost for the OTT Wart iron that soma of the OTT Played like where we have teemed de cost fir de OTT players and we believe that instead of going for the lower margin with OTT players, it's better players and we believe that instead of going 1hr the lower margin with OTTplayers. it's bettor

to focus more on the quality of services and give them a better service and better delivery. And to t On more on the wally of services end give tram a bettor se rvice end bettor delivery. And

in spite of that, we increased the cost for some of the OTT players and we are seeing more traffic in spar of that. we increased de cost Ibr some of the On players end we are seeing more traffic

because of the quality of services, which we are offering to them. And the OTT player price because of the quality of services. which we are affixing to them. And the OTT player price

increase plus the DLT has played a very big role in terms of our margin growth. increase plus the DLT hasplayed a wry big role in terms of our margin growth.

Varun Goenka: Yuan Goma:

And if there is any comment on the firewall company, 365squared, or our DLT, possibly our And if there is any comment on the firewall company. 3653quared. or our DLT. possibly our

getting into the DLT platforms side, that will also help. getting into the DLTpleterms side. that will also belp.

Rajdip Gupta: Hai :

There is also a revenue margin increase because of our firewall algorithm has been modified and lb:re is also a rove nu: margin Mow because of our flrewall algorthm has been mcdffiedard

from the last six months our team is working very closely with various operators where we have from the last six morels our team is working very closely with various operators whin: wo have

deployed our firewall. Just to give one of the African operators, our revenues has increased deployed our firewan. at to give ore of the African operates. our revenues has increased

almost 16% in last quarter by just putting a new algorithm of filtering. Just to share with you all almost 16% in last quirt:Irbyjut pain era algorithm of nixing. Fat to share with you all our !ism, firewein is almost live wish West apn: end North =Ire we are going live within a our BSNL firewall is almost live with West zone and North zone we are going live within a week's time. I think that is also good sign, where it will add more revenue potential to RML in week's time. I think that is also pond sign. where it will add more revenx potential to RML in

coming quarters. coming quarters.

Moderator: Maderater:

The next question is from the line of Pranav from Edelweiss. Tbo !at question is from the lino of Pransv from Edelimiss.

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Route Mobile Limited Rcvb Mobile Limited May 18, 2021 lotey 48.2024

Pranav: Pruner:

My first grin= is. you had a bibulous growth 47% in FY21. lot of the growth Dame in from My first question is, you had a fabulous growth 47% in FY21. Lot of the growth came in from

the improvement realization rather than volume. How should we see FY22 panning out because the improvement realization rather than volume. How should we re RY22psnning at because

we are now sitting on a slightly higher base in terms of the realization. What do you think will we are row sitting on a slightly higher base in terms of the realization. What do you think will

be the levers for growth? Can we continue to grow at 25%-30% rate or because of the high base be the biers fbr growth? Can we continue to grow at 25%-30% raiz or because of the high base

it will slow down? My second question is good to see strong spurt in gross margin, but should k will slow down? My second arition is good to sal tong spurt in gross margin. Ix* should

we take 22% as a sustainable gross margin or it will revert back to like 20% odd what we have we take 22% as a susbsineble gross margin or k will revert back to like 20% odd whet we have

soon fbr the lest year as a susbsireble gross margin. seen for the last year as a sustainable gross margin.

Rajdip Gupta: naidlp Gupta:

If you see normally when we talk about new team, new product offering, like new acquisition If you see =many when we talk about row team. new product offering. like new acquisition

these are all the new product offerings where the margins are much higher than the normal thole are all the row prcduct ca lags whore the margins ere mall Mier than the rormal

traditional A2P SMSs, so we do believe that the kind of investment we have made in PaaS and traditiorel A2P SW1. so we do believe that the kind of investment we have made in PeaS end

we are doing right now, is to make sure that we increase our gross margin. I think our focus is we are doing right now. is to make sure that we increase our groat margin. I think our lbous is

definitely going to achieve over (+) 25% gross margin in coming quarters. And I think 22% defintely going to shrive over (+) 25% gross margin in coming garters. And I think 22%

bola like k is very ouch achievable. arid we will ftan to grow that in the corning days I think looks like it is very much achievable, and we will focus to grow that in the coming days. I think

in coming quarters, we will focus more on RCS, we will focus more on WhatsApp solution, we in mating quarters. we will lbws more on RCS. we will taus more on WhelaApp solution. we

will focus more on email solution, plus we are having lots of productive, lots of sales team now, will keys more on email solution. plus we ere having bb alp:reductive. bb of sobs team row.

only been hired to sell new product and with some of the inorganic acquisition where the gross only been hired to sell new product and with some of the inorganic acquistion where the gross

margin is in the range of 40% to 45%... margin is in the range of 40% to 45%—

Moderator: Moderator:

Participants, please stay connected, line for the management got disconnected. Participsnia. please any connect:Miro fbr the movement got disconnected.

Gautam Badalia: Craton nodal*

Pranav hi, this is Gautam here. So, from a gross margin expansion perspective, the product mix Prarev hi, this 13 GOMM hero. So. from a gross margin °Pare= PcrPt caw. the Product mix changing will definitely lead to the gross margin expansion just we witnessed good and adoption charging will definitely lead to the gross margin ezparnion just we witnessed good and adoption

of the next generation products and this year we should easily more than double the new product of the rat generation products arid this }oar we should easily more than double the row prcobct

contribution to the overall revenue. Definitely that will lead to a gross margin expansion, but on contribution to the overall revenue. Definitely that will lead to a gross margin eipsnsion. Ix* on

a steady state basis at 21%-22% gross margin, we believe is sustainable because we are now at a steady state basis S 21%-n% groat Margin. we believe is writable because we are row at

this point in time not chasing low margin clients. The focus is to move up the value chain, either this point in time rot chasing low margin clients. The incur is to re up the value chain. ether

add value or derive value through the firewalls that we deploy and get value from customers, add value or derive value through the firowels thet we deploy end get value from =tomer&

because of some deployments like that. Moving to your query I think you had the other query because of some deployments like that. Moving to your query I think you had the other query

on the volume versus realization. Last two yen, what we have also wizard. ©racially in on the volume versus realization. Last two years, what we have also witnessed, especially in

most markets where we are very strong is that the price realizations by the operators that has most market where we are very strong is that the price realizations by the operators that has

increased significantly. Area= fbr thet in India has been like the DLT. the flnwaf increased significantly. A reason for that in India has been like the DLT, the firewall

deployments in various other countries where we are strong there are the firewalls that got dq3loyments to various clew countries where we are strong dxre are the firma% that got

deployed and hence the operators increased the pricing. A lot of this price increases were a kind deployed end 1roce the operates teemed the pricing. A lot of thas price increases were a kind

of disproportionately high over the last few years, now it has stabilized, so volume should of disproportionately high over the IS lew years. row it has sbsbilized so volume should

stabilize, and it should grow on its own organically by 10%-15% in most geographies that we stabilize. ardtshculd grow cm its own organically by 10%45% in most geographies that we

are functional right now. Does that answer the query? are trctiorel right row. Does that answer rho query?

Moderator: Moderator:

The rat question is from the lino of Diposh Melia. The next question is from the line of Dipesh Mehta.

A:rah Mahn,: Dipesh Mehta:

I think fbr rho lag question we missed most of the comments you made. I think for the last question we missed most of the comments you made.

Gautam Badalia: Caton nodal*

Dipesh, last question as in the volume and realization thing? IA:oh. IS antic° as in the volume arid realization thing?

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Moderator: Mederater:

Sir, one ram et. Ifs lire is not connected. just a nrarent. Sir, one moment. His line is not connected, just a moment.

Route Mobile Limited Route Mobile Limited May 18, 2021 May la, 2021

Dipesh Mehta: Ankh Matte:

A couple of questions first of all the active client, we added 410 clients, but what would be the A couple of question first of all the active client we added 410 clients, but tat would be the active clients wham we have billed in FY21 if you can share that number. Second question is active clients whom we have billed in FY21 if you can share that number. Second question is

about the new product, how much we have covered let’s say out of that universe for new product aboutthe raw preducklizpw much see have covered let's say at of that UniV0 no fbr raw product

related offerings and how you expect that safe to play out in terms of how we plan to expand our related offerings and how you expect that safe to play out in tens oftow we plan to expand our

coverage for new product-related team over the next couple of years. Broadly we are looking coverage fbr new preduct-relatod team over the next couple of yen Broadly we ere leaking

from cross selling and up-selling if you can provide some perspective. Second question is shock from cross selling and up-selling if you can provide some perspective. Second question is about

the impact oC I think earlier alluded about some rationalization in tail account. If you can the impact of, I think earlier alluded about some rationalization in tail account. If you can

quantify what kind of impact, we have seen you because of tail account risk management. Third quantify what kind of impact. we haw seer you because of tail account riskmanagerant. Third

question which I have is about the Phonon acquisition which we did. If you can share some question which I have is that the Alarm acquisition with we did. If you can share soma

perspective on it, what kind of profitability it operates, how many clients are likely to be added, perspective on k. what kind of poillabilly t operates, low many clients ere likely to be added.

what kind of cross selling opportunities you fresco with that capability acquisition? what kind of cross selling opportunities you foresee with that capability acquisition?

Groan Bedallm: Gautam Badalia:

I think your first qxtion was number of active clients. As we highlighted the keys has been to I think your first question was number of active clients. As we highlighted the focus has been to

serve wally clients, to gave in a high margins and there is definitely a let of room to lard serve quality clients, who gave us a high margins and there is definitely a lot of room to land end eiqxaxl.Weleverotbeen &ening largely from a salesperk active on tail client'. Last year and expand. We have not been focusing largely from a sales perspective on tail clients. Last year

in FrY21, tractive billable client:swore23X plus active billable abort In berms of the numbers in FY21, our active billable clients were 2300 plus active billable clients. In terms of the numbers

for the year prior to that, it was about 2,800 plus. We have consciously started to focus only on fee the year prior to that. t wen shock 2.800 plus. We have consciously started to &an only on

clients where we see a let of potential to grow. otherwise we have a it of platfbrm end there clients where we see a lot of potential to grow, otherwise we have a sales of platform and there

ere clients who come. login. bake the accessary product services end consume the services. So. are clients who come, login, take the necessary product services and consume the services. So, that was the first question. Second is. in terms of the cross-sell and u13361- that was the first question. Second is, in terms of the cross-sell and upsell.

Dipesh Mabee: Dipesh Mehta:

Out of 2300 for new product how much coverage you already happened and cross-sell and Out of 2300 fbr new product 1-ow ouch coverage you already happened end cross-sell end

upsell. upset

Groan Bedallm: Gautam Badalia:

Newpreducts, soio have been adding clients to our portfblio every quarter. Theo is a slide with New products, we have been adding clients to our portfolio every quarter. There is a slide which

we have already highlighted in di:presentation. (Puerto:non-wart= there ere inkanoes of clients we have already highlighted in the presentation. Quarter-on-quarter there are instances of clients

being added. There are a lot of clients where we are doing POCs, we are trying to demonstrate being added. There are a let of clients where we ere doing POCs. we ere trying to demonstrate

a unified offering. So, that universal keep expanding on its own. Be it existing clients or newer a unified ofibring. So. that universal keep expending on its own. Bet exiting clients or rawer

clients that we kind of get into in terms of rawer markets or existing market'. new clients. So. clients that we kind of get into in terms of newer markets or existing markets, new clients. So,

that universe at this point in time to be very-very honest, even enterprises are trying to that universe at this point in time to be very-very harest even enterprises are trying to

experiment with most of the new generation products or next generation of products. They are erqxriment wish most of the new generation products or next generation of product'. They ere trying to kind of nibble at one aspect of the product and see hew the efficacy is of the odor trying to kind of nibble at one aspect of the product and see how the efficacy is of the other

aspects of the product. So, at this point in time, it is difficult to put a finger and say that this owlets of the product. So. at this point in time. it is difficuk to ;At a finger and say that this

product in terms of next generation is something which will be the nest big win= and will product in terms of next generation is something which will be the next big winner and will replace SMS. voice. or email in a big way. So. from that perspective. we ere mooing rapid replace SMS, voice, or email in a big way. So, from that perspective, we are seeing rapid adoption of next generation of produas from an enberprise kardpoint and the my fbr that adoption of next generation of products from an enterprise standpoint and the runway for that

even is bigger than what the runway for our core business is. That is how we are looking at that even is bigger than what the runway fbr our ace business is. That is how we ere koking at that

ePPertenlY at this point in time. Milt& do you want to add something to this? opportunity at this point in time. Milind, do you want to add something to this?

ilajdlp Gupta: Rajdip Gupta:

Ga tsm. just to add I think see added 74 customers on a newpreduct line last quarter. Gautam, just to add I think we added 74 customers on a new product line last quarter.

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Gautam Badalia: Gran WedsSU:

We are just clarifying that 74 customers is across all products. We ere just clarifying that 74 mammas is across all products.

Rajdip Gupta: Rajdlp Gupta:

All products, right. Allproducts. right.

Milind Pathak: mane Pathalo

So, I’ll try and touch both the answers, both on the Phonon and the first one. And because you So. I'll try Bed touch both tle answers. both on the Phonon and the first one. And beasuse you

asked a slightly longer horizon question of 2 to 3 years, the way we are looking at is that our asked a slightly longer Scrims question of 2 to 3 years. the way we ere baking at is that ow

product stack is. I would asy by and large complete. There would always be ono small prcdat product stack is, I would say by and large complete. There would always be one small product

to be added, one small channel to be added by and large. But I think if you look at from our to be added. one small channel to be added by wad large. asst I think if you lank at from our

offering is completely consolidated to our client. We are seeing large part of our effort from the offering is compktely consolidated to our client We ere seeing large part of our effirt firm the

sales team whether it's in India, whether it's in Southeast Asia, whether it's in Middle East or sales team whether it's in India. whether ins in Southeast Asis, whether it's in Middle Peat or

whetteries in America's region. Our sales teams. our leaders ere going end talking about doing whether it's in America’s region. Our sales teams, our leaders are going and talking about doing

multichannel multi product approach on the same client. And we are seeing conversions on the multichannel multiproduct appmeth on the same client. And we ere seeing conversions on the

conversations that are happening around that. So, somebody was buying SMS from me is also conversations that ere happening &and that. So. somebody was buying SMS Rem ma is also

row buying email, is also buying WhalsApp, is also saying I want to have a unified marketing now buying email, is also buying WhatsApp, is also saying I want to have a unified marketing

automation tool and so on and so forth. And this trend we are seeing increasing month-on-month, automation tool end so on and so firth. And this trend we ere seeing increasing month-on-month.

quarter-on-quarter. So, that is one clear cut approach that we are seeing upsell cross-sell to our quartence-quarter. So. that is one clear o.t approach that we ere seeing Upson cross-sell to our

existing clients that becomes a large part of our growth and a go-to-market. The second element existing clients that becomes a large pert of our growth end ago-to-market. The second elanent

that we are doing big time on a new product is a very-very strong solution centering approach. that we are doing big time on a row product is a very-very trong soktion °eateries approach.

One of our friends asked a question about industries to focus and what areas that we are offering. One of our fiords asked a question about tato fetus end what area that we are affixing.

We have consolidated our offering in three core areas to a client’s requirement either in helping We have consolidated our oft:ring in throe core areas to a client's mquirement ether in helping

them to drive more sales or acquisition or leads or whatever it is based on the category or help them to drive more it or acquisition or leads or whatever k is based on the category or help

them to engage with their clients or their consumers in a better manner, more on the customer them to engage with tick clients or their consumers in a batter manner. more on the cusimmer

engagement side. And third, with our addition of Phonon also start helping us to help our clients engagement side. And third with our addition of?honon also sbrt helping us to help our clients on the cusimmer are or ombsmer service port:Ballo. So. our story now is slowly moving from on the customer care or customer service portfolio. So, our story now is slowly moving from

perm omni-chen eel coma-micadon platfirm Waymire:am experience platfbrm, thereby helping pure omni-channel communication platform to a customer experience platform, thereby helping

our clients in one of these three or all the three of the solutions that the client typically desires our clients in one of them throe or all the throe of the soliAions that the client typically desires

from its own consumer experience perspective. And that is a focus for the next three to five years from is own consumer experience perspective. And that is a fetus firth: eat throe to five years

as we speak, as we crystal ball gam into the &uns. Coming meciflcally on the question on as we speak, as we crystal ball gaze into the future. Coming specifically on the question on

Phonon. Phonon is fundamentally, if I can call it, a communications automation platform. It has Phonon. Phonon is fUndemenially. ifI sea call; a comeuniastions attsmadon platfirm. It has

got a fantastic UI visual flow builder for somebody who wants to onboard a voice for its own got a fintastic UI visual flow builder far somebody who wants to onboard a voice fix its own

use case. be k a contact center, be it fiar simple outbound calling. need a simple Wit. whatever use case, be it a contact center, be it for simple outbound calling, need a simple IVR, whatever

maybe the case. So, it fits beautifully in our vision to emerge a very strong customer experience maybe the case. So. k tics beef-14041y in ow vision to emerge a very strong =Mew experience

platform for our clients. And that's a massive addition there. We have covered the stack platfbrm fiar our clients. And that's a massive addition there. We have covered the slack

completely from contact canter atarmadon, up to voice to voice-boa. to click to cells to completely from contact center automation, up to voice to voice-bots, to click to calls to

intelligent IVRs and so on and so forth. And that fact is by and large complete, we now are intelligent was and so on and so firth. And that that is by and large complete. we now ere

synergizing between the Phonon teams to ensure that is upsell cross-sell with their customer synewiring between the Phone teams to ensure that is upsell with their mammy:

base and our customer base. If you look at some of the segments that Phonon works today, base end ow cgmbsmer bass. If you look at some of the segments that Phcmon works today.

somebody had asked the question on the sector, they are the de-facto leader in Indian aviation somebody had asked the question on the water. they are the do-fisoto loader in Indian aviation

and hospitality industry. 7 out of the 10 travelers in India, they are informed by the schedule end hospkality ixbstry. 7 out of the 10 travelers in India. they are inbreed by the schedule

change or any communication on the airline with the Phonon platform. That's a huge market change or any coma-niceties on the airline with the Phonon phi:ft:rm. That's a huge market

at. And 4 of the top 5 airlines are their clients. And we want to continue to deepen that share. And 4 of the top 5 airlines are their clients. And we want to continue to deepen that

reladonship anther by affixing more products and more channels to this =tomer base. mad relationship further by offering more products and more channels to this customer base, and

same as their strength on the BFSI, be it Citi, be it American Express, be it ICICI, be it HDFC on the FIFSI, be k Citi, be k American gives. be it IOCI, be it FMK same as their to

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Rank. be k YES Bank be k HDIC Lit end won and w firth. They have a huge pktrons of Bank, be it YES Bank, be it HDFC Life and so on and so forth. They have a huge plethora of

banking customers which becomes a natural fit to us, as well as an opportunity for them to upsell banking outman which becomes a natural flt taus, as well as an opparbenty fbr tramto quell

some of our products and for us to up-sell some of their products as a proven financial segment some of our pro:ludo and fbr us to up-loll some ores* pro:ludo as a proven financial segment

BFSI player to some of our existing banking partners. So, we believe it's a very strong synergistic RFSI player to some of our existing banking psrthers. So. we believe k's a very strong synergistic

relationship that will help us drive deep customer experience platform as a service for our clients. relationship that "Falb* us drive deep customer experience platfbrm as a service fbr our clients.

I hope that answers both the question that you had on that side. I lxqx tret drawn bath the question that you had on that lido.

Dipesh Mehta: Dipsh Mahar

Yes. I think a couple of things remain to be answered. First is about the number of clients which Yes. I think a couple of thirigs remain to be answered. First is abort the number of diets which

we acquired and then their margin profile kind of, which I am not very sure about because it we acquired and tram their margin profile kind DC which I am not very are about because k

should be high margin, but if you can provide some prescriptive. should be high margin. but if you ow provide some proscriptive.

Milind Pathak: mbhui Pothalo

Is this question related to Phonon? Is this qxstion related to Pha&

Dipesh Dipesh Mehta:

Yes, Phonon. Yes. Plxeon.

Gautam Badalia: Groom Mediae:

Dipesh, in terms of margins the company does gross margins northwards of 45%-50% DiPcsh, in terms of margins the oompsny don gross margins northwards of 45%-50% sometimes it even inches to 60%. Traditionally, this company is a Baroda based company. And sorotimes it even intros to 60%. Traditionally. this company is a Baroda based company. And

we bean tat product has a let of potential to take it towing:1i% across the globe. So. when we believe the product has a lot of potential to take it to pan India, across the globe. So, when

we acquired, I think they were doing about close to a little less than $2 million in terms of we aoatired. I think troy wore doing shot elm to a little leis than 12 million in berms of revenue wide a (420) REHTDA margin. So. we would intend to kind of get m the benefits of revenue with a (+20) EBITDA margin. So, we would intend to kind of get in the benefits of Rate Mob* synergy across various geographies and help tat platfbrm expand into a lot more Route Mobile synergy across various geographies and help the platform expand into a lot more

enterprises globally. As Wind highfghird. a lot of travel and aviation compotes m loth% troy enterprises globally. As Milind highlighted, a lot of travel and aviation companies in India, they

serve a lot of banks in India including one of the largest private sector banks in the country where serve slot &beaks in Iretha including ono of de e largest private sector banks in the cosney where

their processes are deeply embedded across all facets of communication on the voice stack from thoirproothees ere deeply embedded across all %cob of comiamioation an the yoke stack firom

that private lender perspective. So, it's a proven platform widely tested by most enterprises in that private lender perspective. So,

a proven platfbrm widely beaked by most enthiprises

India. And through the synergies of Route Mobile, we believe we can take this platform to the India. And through the synergies of Roar Mobile. we believe we can take this platfbrm to ex

world. world.

Moderator: Maine er:

The next question is from decline of Vimal Cord from Union Asset Management. The next question is from the line of Vimal Gohil from Union Asset Management.

Vimal Gohil: Vino& Gehl:

Firstly. a cisrification on two thins. one is. when you say that you expect 20% revenue growth Firstly, a clarification on two things, one is, when you say that you expect 20% revenue growth

in FY22. this will be excluding Plan. or this will include the Marge* initiatives that may in FY22, this will be excluding Phonon, or this will include the inorganic initiatives that may

come. corm.

Gautam Badalia: Caton Bodanm:

The will be a very small contribution. at we are only talking about organic here. That will be a very small contribution, but we are only talking about organic here.

Vimal Gohil: Vlmet Gehl:

So, 20% is purely organic. So. 20% is purely organic.

Gautam Badalia: Caton Bodanm:

That's correct. That's correct.

Vimal Gohil: Thiel Gehl:

I knew this contribution is very smell, but could you a rap with YOU"' revenues from that cell I know this contribution is very small, but could you help me with your revenues from that call

center initiative that we have? center initiative that we have?

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Gautam Badalia: Gasitain FredaIla:

The call center business it was impacted because of the pandemic. So last year FY21, we did TS: teal amber business it was impacted because of ex pandemic. So sat year FY21, we did

about 24.9 crores in terms of revenue. about 24.9 wares in terms of revenue.

Vimal Gohil: Thal Gale:

I just raised out on this pricing end gross margin. In berms Digress margins this 22% walk be I just missed out on this pricing and gross margin. In terms of gross margins this 22%, will it be

sustainable going forward or how should we think about it? I just wanted to get a perspective on sustainable going fbrward or Few 'Sauk] we think_ about it? I just wanted to get aperspective an

this, how does deploying a firewall with a telco improve our gross margins for any client? Just this, Few doer deploying a firewall with a eon improve our gross margins fbr any client? Just

wanted to get an update on that. wanbed to get en update on that

Gautam Badalia: Gasitam Fiedalla:

In terms of gross margins, vis-à-vis Q3 FY21 this quarter has been a revelation and the reason In terms of gross margins, vis-a-vis Q3 FY21 this quarter has ban a rewlatien end the reason

for that was in Q3 FY21 there was a structural change in the industry especially in India where fbr that was in Q3 FY21 acre was a tructunsl aFerge in the industry especially in India tore

blockchein as a platftem or DLT as a platfbrm was implemonird. So. we used that as en blockchain as a platform or DLT as a platform was implemented. So, we used that as an

opportunity to kind of get our platforms integrated with a lot of new clients. In the subsequent °opera:Ay to kind of get our platfbrms in tegrated with a bt of row clients. In the stbsequent

quarters in Q3 FY21 we had taken some amount of DLT hit onto our P&L and that was the one quarters in Q3 FY21 we lied taken some amount of DLT hit ate our Fa and that was the ore

reason why the gross margins had contracted in Q3 FY21. In Q4 FY21 we were able to psis reason why the gross margins had contracted in Q3 FY21. In Q4 FY21 we were able to pass

through a lot of this increase in the DNP charges to the clients, thereby restoring back the gross through a lot of this increase in the DNP ahem= to the clients. thereby restoring back the gross

margins and even expanding it further to 22% on a sustainable basis with the current mix in margins end own ettparding it fUrtFer to 22% on a sustainable basis with the current mix in

terms of produda. we believe 21%-22% gross margin is steady tab:. However. wth the new terms of products, we believe 21%-22% gross margin is steady state. However, with the new

products increasing its presence within the portfolio, we will witness some gross margin products increasing its presence wthin the portfblio. we will witness some gross margin

expansion gradually over the next few quarters. expansion gradually over the next flew quarters.

Milind Pathak: Mid PatFalc

I think_ just to odd on this Erman affixing es well. &teen ince:I/Vide SAT solution which I think just to add on this firewall offering as well, firewall is a complete SAT solution which we offer to operator. And that is something where we do a revenue share based on the volume we oFfier to operator. And that is something tore we do a revenue share based on the volume

generated through a firewall. I think that is a complete different model we have for operator gererabed through a firewall. I think_ that is a templet diet model we have fbr opcnstor

which is crimple bely SAS model. which is completely SAS model.

Vimal Gohil: fl at Gale:

Would it be fair to say that the entire gross margin improvement that we have seen in this Would it be fbir to say that the entire gross margin improvement that we have see in this

particular quarter will be because of your recovery from the DTL related losses that we saw in pater quarter will be because of your recovery from the DTL rated laws that we la in

the previous quarter? the previous wear?

Milind Pathak: Mid PatFalc

You can say that, but apart From that also. as we ay in Deming quarters, we ere going to &an You can say that, but apart from that also, as we say in coming quarters, we are going to focus

mom on row product affixing and rowproduct portiblia. And these prodixtporteilio as Gstam more on new product offering and new product portfolio. And those product portfolio as Gautam

just mentioned. like all the Pro= products has almost 45% to 60% margin mac And if we talk just mentioned, like all the Phonon products has almost 45% to 60% margin ratio. And if we talk

about WhatsApp, Viber, or a voice solution or email solution where the margin is higher in terms atsApp. Vibe. °revoke solution or ©mail solution tore ex margin is Mee in terms about

of 30% to 40% range. So. as in coming quarters the revenue From this =awl:duct affixing will of 30% to 40% range. So, as in coming quarters the revenue from this new product offering will

increase. we will daintily lee this increase in the gross margin as well. increase, we will definitely see this increase in the gross margin as well.

Rajdip Gupta: Hai :

On a sustainable basis, you are right. we will definitely be between 21%-22% plus arty. On a sustainable basis, you are right, we will definitely be between 21%-22% plus only.

Moderator: Mads-ater:

The next question is from the line of Manik Taneja from JM Financial. 'llxi next question is From the line of Manic Tereja From JNI Financial.

Manik Taneja: Mann( Tanabe:

Jut wanted to pick your brains regarding tFecompotitiw iob:may in the space new. Given some Just wanted to pick your brains regarding the competitive intensity in the space now. Given some

of the telcos have launched their own operations, we have seen some of the global players make of the tacos Sew lacretd their own operations, we have seen some of ex global players make acquisitions of India orient d assets. So that's question numb:Tam. Thiseozed thing is that for acquisitions of India oriented assets. So that's question number one. The second thing is that, for

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right understanding around our marketing efforts or expansion efforts in developed markets, right urdentarding ward our marketing offtets or expansion effixts in developed markets.

should the understanding be that now we are well prepared from a technology product stack steal the urdentarding be that row we are well prepared from a irchrokigy product stack

standpoint? And it would be more about expanding market coverage to get into customers. standpoint? And it would be more about receding market coverage to get into customers.

Rajdip Gupta: wildly Gupta:

I will answer your first question and probably Gautam can answer the second one. In terms of I will answer your first question and probably Gautam can answer the second ore. In terms of

all these international players coming to India, but as you know almost all these international all do: inziretiprial players coming to Wis. Ix* as you Smog almost an brie miosmtmml

players, they use our connectivity not only for India but various other parts like, Africa, India, players. they use our conrectivky not only lir India Ix* various direr parts like. Attica. India. and Asia with Route Mobile. So, there is one set of revenues within our portfolio which is and Asia with Holz Mob*. So. those is on: apt of reverts= within our parte:dip which is

aggregator revenue. Apart from that, if we talk about the competition in India, I think all these ofccgistor max. Apart Ham that if we talk about the campetition m India. I think all erase companies who will acquired by these international players, we always used to compete with comport to will dowered by ace internal:keel players. we always used to compdx wish

them in part also. So, we don't see any challenges as such. its the same competition fbr us. In them in past also. So, we don't see any challenges as such, it's the same competition for us. In

fact, if we talk about our market share in India is about between, I think about 10%. We have a %et if we talk ably.* our market share m India is abet* between. I think abet* 10%. We have a

lot to gain than lose in this market as we speak. lot to gain than lose in this market as we ;peak.

Guclam Badatia: Gautam Badalia:

In terms of the marketing effbrt you are absolutely right. At this point in time. the immediate In terms of the marketing effort, you are absolutely right. At this point in time, the immediate

focus of the company is to have as many products in our repertoire. Through organic or inorganic &an of tte =piny is to limo as many prcducis in our repertoire. Through organic°, in:nether

route, we are trying to pursue that, and we believe at this point in time we have a very rate. we ere trying to pursue that. and we believe at this point in time we have a very

compreIensive stack which can be &bed loo enbnprises cot only in Indio Ix* across the globe. comprehensive stack which can be offered to enterprises not only in India but across the globe.

Hence, we have started to invest into having more feet on the street in various markets. So, we HMCO. we have started to invest into having more fbet on the trot in various markets. So. we

are doing micro analysis across various geographies and where we need to kind of focus our are doing micro erelyis across venous geographies arc tore wo reed to kind of &an our

time and energy. Just to give you some stats, last two years we have focused significantly in time and energy. Just to give you scam stets. IS two years wo have &owed significantly in

some of the adjoining markets in India. like Bangladesh. Sri Lanka. Nepal. Ard some of the some of the adjoining markets in India, like Bangladesh, Sri Lanka, Nepal. And some of the

outputs that we are getting from those markets in terms of the results, that's really a praiseworthy output that we ere getting gam exit markets in terms °fen resits. that's really a praiseworthy

end we ere leaking at firth:, investing into some markets and %Hawing similar principles in and we are looking at further investing into some markets and following similar principles in

some of the Western markets. Ard with John row at the holm of things. I am sure we will be some of the Western markets. And with John now at the helm of things, I am sure we will be

able to add on to the acceleration that we have been doing historically. able to add on to the acceleration that am have been doing historically.

Moderator: Moderator:

The next question is from the line of Madhu Babu from Canara HSBC. The rat question is from the lire of Madhu Bebu from Canons HSHC.

Madhu Babu: Madhu Baby:

Just on the geographic mix, can you break up the mix for this quarter? And how is the pricing in Ant on the geographic oar you breakup the mix fir this quarter? Ard how is the pricing in each of the key markets for us? each of the key markets fbr us?

Gautam Badalia: Gratam Badatia:

I think we already have a slide on that in the presentation. Because of confidentiality we don't I think re already have a slide on that in the preseniztkm. Booms: of confidentially we don't

share it in the public fawn. Hot I think we have given you a flavor of that in slide number 12 share it in the public forum. But I think we have given you a flavor of that in slide number 12

Vero you gets flavor of almost 8.6% of the rear. 83% of the total revere in HY21, you get where you get a flavor of almost 86% of the revenue, 83% of the total revenue in FY21, you get

a split of various regions right from APAC, Middle East Africa, and Latam. These are the three a split of various regions right gem APAC. Mid& Fast Mhos. end Labia -These are the three

strong footholds of Route Mobile at this point in time. strung litottolds °facts:is Mobil: at this point in time.

Madhu Babu: Madhu Baby:

On the second wave, how has that impacted the volumes over the last two months? And John On the second wave. how has that impacted the vaunts over the IS two months? And John

congrats on the new role. How would be the gestation to land new clients in some of these conceits on the row role. How would be the gestation to land row clients in some of these

developed markets like UK and all that? developed market like UK and all that?

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Gautam Badalia: eaten IWO*

try and address the second qxstion end ton maybe. Rind* or John you can take up to third I'll try and address the second question and then maybe, Rajdip or John you can take up the third one. In terms of, some of the large clients, be it some cab aggregators clients or internet and one. In toms DC in of the large client% be k some cab aggregators clic* or interact end

social media comes. some of tole companies toy were tormireting quire= of traffic to social media companies, some of these companies they were terminating quite a bit of traffic to

some of these LATAM markets. And because of the second wave of pandemic a lot of those some of for LATAM markets. And because of to second wave of pink:mica= of those

industries were impacted and hence the volumes were affected. Can you repeat your second industries were imputed and hence do vokones were affected. Can you rqoeat your second

question? question?

Madhu Babu: madha Bebe:

Second was on the gesttion to land in a new chat in developed market Second was on the gestation to land in a new client in developed market.

Rajdip Gupta: litajdlp Gupta:

It all depends on the kind of customer, the kind of product offering they are looking at right now. It alldeperds on to kind of customer. to kind of prcduct affixing toy are looking at right row. Like if you talk ably.* the digital adoption. I tiink there are Winton Wed of a digital adoption. Like if you talk about the digital adoption, I think there are various aspect of a digital adoption. So. we are as a company now ftan as a complete product offering to any customer who is So, we are as a company now focus as a complete product offering to any customer who is

looking out as a digital adoption as a part of their customer engagement. So, it all depends, one looking at as a digital adoption as apart of their cutomer engagement. So. k all depends. on: month to six =sin also. Ix* k all depends how loch savvy the company is But because of this month to six months also, but it all depends how tech savvy the company is. But because of this

COVID situation most of to entrprises have been trood to adopt this kind of digital COVID situation most of the enterprises have been forced to adopt this kind of digital

acceleration in a finter way. I will just give you a simple example. we and to work with env acceleration in a faster way. I will just give you a simple example, we used to work with few ontraers in pat. toy used to take kat six ono to just to cb a POC. Ix* row because of the customers in past, they used to take about six months just to do a POC, but now because of the

COVID to same customer is doing to POC in throe weeks. In feet drre's en urgency we see COVID the same customer is doing the POC in three weeks. In fact, there's an urgency we see

from the enterprise side to adopt the digital platform rather than we actually going and trying to erom the enterprise side to adopt the digital plate= rather than we actually going and trying to

sell or do lots of fellow-up. So that's a big ceenge we have in to market in Lest few quartets. sell or do lots of follow-up. So that's a big change we have seen in the market in last few quarters.

Gautam Badalia: eaten Bodatim:

Okay. nil jug try and address. R.qjdip. I think the question was around kiln and how long will Okay. I'll just try and address. Rajdip, I think the question was around John and how long will his strategy to… his strata to...

John Owen: Jahn Owen:

I love being on do salespipeliro palls straight away. So. thank you. I think in %imams there's= I love being on the sales pipeline calls straight away. So, thank you. I think in fairness there's no

excuses. It depends as long as the customer wants to buy. What I mean by that is it could be two excuses. It depends as king as the customer wants to buy. What I mean by that is k could be two

weeks; it could be two months. It certainly mote six to nine months sales cycle. les more weeks; it could be two months. It certainly not a six to nine months sales cycle. It's more

transactional. I think where we are at the moment, it's about building increasing our coverage transactional. I think whin we are at the momerlt it's about bulking increasing our coverage

model. So, direct selling is labor intensive and it's expensive. What we need to do, and we have model. So. direct selling is labor intensive and it's en:maim What we rood to do. and we have

traditionally been a direct sales model, we now need to compliment that to increase our coverage traditionally been a direct sales model. we row rood to compliment that to ins: our coverage

by selling through channels and selling with development partners, so we get a better coverage, by selling through channels and selling with developmentpartners. so we get a bettor coverage.

and our solutions get embedded into other people's channel strategy. So, the key isn't about when and our solutions get embedded into otherpe ople's channel strategy. So. the key isn't ably.* ton

do first ask is. do key is about Wading momentum in the revenue has and that revenue line the first sale is, the key is about building momentum in the revenue line, and that revenue line

reflects to geographic market no want to serve. to product mix we want to sell tratgically reflects the geographic markets we want to serve, the product mix we want to sell strategically

because that's going to give us the better margin contribution and the more investment we put because that's going to give us the beer margin contribution and the more investment we pit

into those channels, the more we would be able to leverage the cost base which drives gross into =me channels, the more we would be able to leverage the cost base which drives gross

margin. So. I think they are all interlinked. end I em rot being evasive. but k isn't just about margin. So, I think they are all interlinked, and I am not being evasive, but it isn't just about

selling. It's shoot earging cur channel mix enm a very direct mobilo centric who= which is selling. It's about changing our channel mix from a very direct mobile centric solution which is

our heritage. and we ere really good at our heritage, and we are really good at it and we can compete into more value-added enterprise we can compete into more value-added enterprise

SAS type provider which is where our brig-term revenue security and margin warty will be. SAS type provider which is where our long-term revenue security and margin security will be.

So 1napetlly that answers it. We could sell something in the tat week. We could sell something So hopefully that answers it. We could sell something in the next week. We could sell something

in the tat two months. I would be disappointed if we are still having this convened= in throe in the next two months. I would be disappointed if we are still having this conversation in three

months am that help answer? So besiently, I am optimistic. months. Does that help answer? So basically, I am optimistic.

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Moderator: Mederater:

lb: next question is from the lire of Newish lisdder fromNippon The next question is from the line of Manish Poddar from Nippon India.

Manish Poddar: Mirth Peddler:

I am trying to understand why is there no growth in this quarter? If you look at the other income I em trying to understand why is there 1,3 growth in this quarto!? If you bok et the other income

in the last quarter was roughly about 8.5 odd crores, this quarter the other income is negative io the last quarter was roughly ably.* 8.5 odd crones. this quarter the other income is negative

about 60 odd lakhs. So, just want to understand what is happening there? about 60 odd kali& So. just went to understand whet is happening there?

Gautam Badalia: eaten Bedatim:

It has largely to do with that translation losses. Foreign currency translation loss and all. Some It hes largely to do with that translation bum Foreign orrency translation loss end ell. Some

of the currencies in the European Union and UK, so GBP Euro there was a wild swing in those of the currencies io an European Union end UK. so CifiP Emu there was s wild swing io thaw

orronoin which mulled ...so on en overall ibll year basis if you leek et t. other income is currencies which resulted in…so on an overall full year basis if you look at it, other income is

about 50-odd crores. about 50-odd =res.

Manish Poddar: Mania Fodder:

Would you be able to quantify the amount of the exchange loss during this quarter? Would you be able to ganef), the amount of the exchange loss during this quartz!?

Gautam Badalia: eaten aced?:

Menish if you have any other queries you can ask. I will give you this ore. Manish if you have any other queries you can ask. I will give you this one.

Manish Poddar: Mirth Peddler:

And the last ono from my side is. when you mention that gross margins improve from hereon And the last one from my side is, when you mention that gross margins improve from hereon

given let's say the new product mix led by you or not really focusing on the tail clients much, so given let's say the newproduct mix led by you or rot really ftassiog on the tail clients =ob. so

you allude to the full-year gross margins or to the Quarter 4 gross margins? you allude to the ifill-year gross margins on to the Qua:lora gross margins?

Gautam Badalia: eaten Bedatim:

Heber to ftan on fisillo year basis only but I think if we achieve quarterKin-qxater then only we Better to focus on full-year basis only but I think if we achieve quarter-on-quarter then only we

can give the guidance fbr fluff year side. can give the guidance for full year side.

Manish Poddar: Minh Peddler

Because the number tic itself is 100 bps kind of a difeerent so because you mentioned the Because the number there itself is 100 bps kind of a different, so because you mentioned the

margin bend ably-En-2/.1x* this quarter Seel£ you are in an Mee:road ['£flat bard So. should margin band about 21-22, but this quarter itself you are in the higher end of that band. So, should ono look at really this margin inching up directionally from hereon from 22-23 somewhere in one look at really this margin inching up directionally from hereon from 22-23 somewhere in

that park or should we look at the full year numbers? that pule or should we bok et the fUll year numbers?

Gautam Badalia: eaten Bedatim:

floe share ofnewproaat farming &fin arty there is mom fbr this margins to improve. but oar The share of new product increasing definitely there is room for this margins to improve, but on

steady stab: basis at this point in time with the =met preduct mix. 21%-22% leeks achievable. a steady state basis at this point in time with the current product mix, 21%-22% looks achievable.

We should be able to easily °chino the 21%-22% gross margin. We should be able to easily achieve the 21%-22% gross margin.

Manish Poddar: Mirth Peddler:

Just wanted to understand the definition when you say new products, what all does that include? Just wanted to understand the derfinitioi when you my nowproducts, whet all don that include?

Gautam Badalia: eaten Bedatim:

New products will include anything outside of SMS at this point in time because SMS was the New products will include anything outside of SMS at this point in time because SMS was the

significant part of our revenue. Now everything from, IP messaging to voice to email is a part significant part of our revenue. Now everything from. IF nysieging to voice to email is a part

of the new products. So, net loss on foreign currency transactions and translation was 4.5 crores of the new prechris. So. net loss on fbrtrign orronay transactions and translation was 4.5 crones

in Q4 FY21. in Q4 FY21.

Manish Poddar: Mania Peddler:

-That seems to be sell low because even if you average out the cash expenses cash on book is That seems to be still low because even if you average out the cash expenses cash on book is about 400-450 odd crones. And the yield which you are getting here is really low then. about 400-450 odd crores. And the yield which you are getting here is really low then.

Gautam Badalia: eaten Mediae

What we are getting, wo have don: the moth i ts around 3%-4% only. What we are getting, we have done the math it's around 3%-4% only.

Manish Poddar: Minh Peddler:

Okay, its due to the averaging. okay. its due to the averaging,.

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Gautam Badalia: eaten Nadal*

That’s right. Tat% Tight

Route Mobile Limited ROut9 lobbile Limite-d May 18, 2021 Mfr y 18, 2O21

Moderator: Motheaten:

The next question is from the line of Pranav Mehta from Value Question Investments. Tho rat question is from Melia: of Franey Met from Value Question Investment'.

Pranav Mehta: Prawn Maas:

On our inorganic strabegy. so obviously we have ennounoed one acquisition of Pionon, ifI em On our inorganic strategy, so obviously we have announced one acquisition of Phonon, if I am not wrong, I thought there were one or two more deals in the pipeline. So, if you can just give not wrong, I thought dare were om or two more deals in the pipeline. So, if you men just give en update on that end by !ton men we expect fUrther action on this one Secondly. growth that an update on that and by when can we expect further action on this one? Secondly, growth that

we have achieved in this year, the topline growth of almost 47%, if you can just quantify how we have achieved in this year. the toplim growth of almost 47%. if you can just quentifi how

inch was organic growth boos= we had done an requisition of TeknIsIA dising the year. So, much was organic growth because we had done an acquisition of TeleDNA during the year. So,

that would just be helpful in understanding the organic growth trajectory. that would just be helpf1J1 in

Gautam Badalia: Goutem Prodatim:

TS: TeleDNA. contribAion would be in single digit. So, to that extent the =tee growth is The TeleDNA contribution would be in single digit. So, to that extent the entire growth is

organic. TeleDNA was more an acquisition to bolster our operator stack, more than to look into organic. TeleDNA was more an acquisition to bolster our operator Weak, more then to lookinbs

the revenue aspect of it. But having said that, it was about 7-8 crores of revenue that we garnered the renonue aspect oft WA having said that. k was oboist 7-8 worn ofrevenue thaw: garnered

from TekDNA's contract% which essentially were contract' that they were servicing to from TeleDNA’s contracts, which essentially were contracts that they were servicing to

365squered. So, it was kind of a backward integreoon fbr in. Sorry Pnsnev, whet was the first 365squared. So, it was kind of a backward integration for us. Sorry Pranav, what was the first

question. I just missed the. question, I just missed that.

Pranav Mehta: Pronnv Malign

On the acquisitions. On Be requisition.

Gautam Badalia: Goutem Prodatim:

These are difficult times, from all standpoints, even from doing virtual deals we are actively Maio ere difficuk times, from ell sandpoirts. even firm doing virtual deals we ere actively

working on a few acquisitions at this point in time, but to give a specific timeline will be difficult, working on efiew acquisitions et this point in time, but to give ewe& timeline will be difficult.

but the endeavor would be also some of Be acquisitions sooner then M . but the endeavor would be close some of the acquisitions sooner than later.

Moderator: Medauter:

The next question is from Be line of Vann Ovenka fromNippon Life India Asset Management. The next question is from the line of Varun Goenka from Nippon Life India Asset Management.

Varun Goenka: Verve Games:

I think there was a comment made that we would continue to grow at 20%. So. I just want to I think there was a comment made that we would continue to grow at 20%. So, I just want to

delve there deeper. I ifs a conservative same. but the industry tclf growing et 25%- delve there deeper. I know it's a conservative stance, but the industry itself is growing at 25%-

30% in India or globally. So. I Brink our endeavor should be et least 1.5 times or something of 30% in India or globally. So, I think our endeavor should be at least 1.5 times or something of that industry growth. So, my qxstion is whet is Be key challenges that we think top five that industry growth. So, my question is what is the key challenges that we think top five

challenges to scaling up growth organically or onboarding large customers or mining existing challenges to scaling up growth organically or onboerding lame customers or mining exiting

customers. What do you think is our top four or five challenges that we face on a day-to-day cusizimtn. What do you think is our top bur or five challenges that we thee on a day-to-day

basis? basis?

Rajdip Gupta: Hai :

We don't lee es a challenge. When we balk about the pletharm, we ere reedy. and my tech team We don't see as a challenge. When we talk about the platform, we are ready, and my tech team

osn handle en y kind of wahine.. And we ere already ierving some of the largest companies in can handle any kind of customer. And we are already serving some of the largest companies in

the world.. But again, at this point in time, in terms of platform capabilities, we as a company Be world.. WA again. at this point in Sc. in terms of pletfbrin ospebilkies. we es a company

are far better and very well matured at this point of time. We can serve any customer you name ere 93r better and very well matured at this po int of time. Wenn:eve any oabzomr you name

it right now. Gautam, do you want to add on something about the guidance? k right now. Ga tsm. do you want to add on something oboist the guidance?

Gautam Badalia: Cautem

time also we were guiding about 20%-25% Sure. Varun, we met during the IPO, at that point in time also we were guiding about 20%-25% Sure. Verun. we met during the IP°. et thetpoint

but we have achieved 47%. So, the only limited submission in this is, we are in unprecedented but we have achieved 47%. So, fro only linked submission this is. we are in unprogodentod times right now. We want to be conservative in our approach end caperfiarm is berms of the times right now. We want to be conservative in our approach and outperform in terms of the

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final results. At thispoint in time. womb:IL you. 20% is apt en Miasmal guidance that we ere final results. At this point in time, we can tell you, 20% is not the internal guidance that we are

working with. It's a much higher number that we are working with. workirg with. Intim:yob higher number that we ere working with.

Route Mobile Limited Rcisb Mobile Limited May 18, 2021 May la, 2021

Varun Goenka: Vartm Goma:

Absolutely. -Then Olmsted to S Absolutely. That's all I wanted to hear. I understand that you are being conservative but…

. I urderstard that you ere being cons:native

Rajdip Gupta: Rajdlp Gupta:

Venn. just WSJ: d to ton you ore thing. based on our current pipcliro en kiln of customers we Varun, just wanted to tell you one thing, based on our current pipeline the kind of customers we are workirc on. I think we will definitely overachieve ar numbers. gut right row. the station. are working on, I think we will definitely overachieve our numbers. But right now, the situation,

the current scenario is also causing a little bit of question. Based on that what guidance we are do current scenario is also pausing a ltle bit of weldor'. Herd on that what guidance we are

giving which is very easily achievable for us. giving which is very easily achievable fbr us.

Varun Goenka: Vain Goma:

Absolutely. My second question is related to that key, what are the kind of technical challenges Absolutely. My sward question is related to that key. what ere the kind of bed:mind challenge

that you might be facing for customers to switch from an existing vendor to you? For example, that you might be facing fbr customers to swirh from en existing vendor to you? For example.

WhatsApp for business has this mobile number portability issue that customers cannot switch… ifilelsApp fbr business has this mobile number portabilly issue that customers carnet swap...

Rajdip Gupta: Rajdlp Gupta:

That is going to change very soon from WhatsApp, and we are just waiting for that That is going to &large very icon from WhatsApp. ard we are just waiting fbr that

announcement to be done. Once that is done probably, we will have more opportunities to gain. enroun cement to be dale. Ono: that is dorm probably. we will have more opportunities to gat.

Varun Goenka: Vartm Goma:

Just a final point. in terms of a teclmical capabiliy, so mory company that you may be Just a final point, in terms of a technical capability, so every company that you may be

benchmarked to or are competing with, let's say, Twilio or Infobip or anybody, is trying to get benchmarked to or are competing with. let's say. Twilio or Irdbbip or anybody, is trying to get

into a £all stack soktion having voice. email. eta How do we measure our technical platen into a full stack solution having voice, email, etc. How do we measure our technical platform

capability!! Whom do we really bok up to au& us measly so that we can immure. so what capability? Whom do we really look up to audit us internally so that we can measure, so what are the key cyalky KPIs? It could be latency; k could be downtime. I krow very little. gut where are the key quality KPIs? It could be latency; it could be downtime. I know very little. But where are we there in terms of capability? are we there in Moms of capability?

Rajdip Gupta: najdlp Gupta:

I got your question. I think almost all the names which you have just shared with us, they use I got your question. I think almost all the names which you have just shared wish in. they use

my platform somewhere somehow. So, I think in terms of platform capabilities, my platform is my platen somewhere ranee v. So. I think in terms of platfbrm crapabihtis. my plenum is

as good as what they are at. In terms of benchmarking if we talk about Tier-1 and messaging as rod as what they are at. In terms of benchmarking if we ask that Tkr-1 and messaging

agyrectors in the world. so Tier-1 if you lee ROCCO's report we ere always there in top 5. So. aggregators in the world, so Tier-1 if you see ROCCO’s report, we are always there in top 5. So,

what we are trying to say that we don't want to compare ourselves with anyone in the market, what we are trying to say that we don't want to compare arrives with anyone m the market

make sire that I am geitirg compered wish X or Y. iltheSCYCIT wo ere. we ere capable enough to make sure that I am getting compared with X or Y. Whatever we are, we are capable enough to

make sure we give the same kind of services to any enterprise customer what they are getting make in we give the se= kind of services to any enterprise customer what they ere getting

from others, maybe at a Tier-1 aggregator. In terms of our platform capabilities and these players from others, maybe at a Tier-I aggregator. In terms of our platftemcapabilities ard them:play=

also use my conroctivky is various parts of the world. and Kama:Mies we use them as well. also use my connectivity in various parts of the world, and sometimes we use them as well.

*non you talk abet* the compkft sank. I think Rou to Mobile has also spent lets of tine, regY When you talk about the complete stack, I think Route Mobile has also spent lots of time, energy and money from the last two years to make sure we have all the stack within our platform as one ard money from the int two years to make are we have all the stack within our platfbrin as ore

single API solution offering to our enterprise customer. And I think we have achieved that, and single API solution affixing to ar enterprise customer. And I think we haw achieved that ard we ere serving =tamers on Whet:App. Vibe, Facsboak Messenger, email. voice, or SMS. we are serving customers on WhatsApp, Viber, Facebook Messenger, email, voice, or SMS.

Varun Goenka: Vain Goma:

Perfect. I have been attending all your products webinars by Alec and it looks amazing. YouTube Perfect. I have been altercling all yourprcducts we biros by Ala ardklcoks amanrg. YouTube

has all en things. Just a final point any particularR&D investment wo Sawa 70-mo ml3er tech has all the things. Just a final point, any particular R&D investment, we have a 70-member tech

team. So, what is the kind of R&D spend or something that we will sustain, or do we need to teem So. what is en kind of R&D speed or something that we will gnash or do we need to

continue this brilliant work that we are doing? condom this brilliant work_ that we are doing?

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Route Mobile Limited Route Abbe* Limited May 18, 2021 May 98.2029

Rajdip Gupta: Rajdlp Gupta:

I think fume CPeaS to a CX PeaS to SAS is something which we nand to look fiarRoue Mebik I think from a CPaaS to a CX PaaS to SAS is something which we need to look for Route Mobile

in the coming wars. And definitely we ere going to put more investment in R&D. which is going in the coming years. And definitely we are going to put more investment in R&D, which is going

to be key for RML growth. And we are already investing. I don't know if Gautam has the number to be key fie RMIL growth. Andrea ere already investing. I don'tknow if0ertsm has the number in terms of 1st hiring, we have don in kat quarter. dater; if you can jut add to this? in terms of last hiring, we have done in last quarter. Gautam, if you can just add to this?

Gautam Badalia: Cretan Budd*

Last year we have had hired about 91 odd employees out of which a significant part is with Let year we have had hired abet 91 odd employees out of which a significant pert is with

technical background. chnical background.

Rajdip Gupta: Rajdlp Gupta:

And we are still hiring, in Sot. And we are still hiring, in fact.

Gautam Badalia: Cratitam Radathe

Venn if I oan just add to Redd* said. So. ft n our core Platftere. core Pletferm is already Varun if I can just add to Rajdip said. So, from our core platform, core platform is already evolved. And as Rajdip said, it is already at par if not better than most global platforms that you evolved. And es Redo:lip said. kis already et pare not been then most globelplatthrms that you

come across. And that is kind of getting aptly demonstrated in the high recurring revenue and come across And that is kind of getting aptly demontrattd in the high recurring revenue end

the net revenue retention that has articulated in the presentation. If you look at any other large, the met revenue retention that has articulated in the prewar:aeon. If you look at any other large.

CPaaS companies again, they have all done a lot of acquisitions and now they are integrating all CPeaS companies again. they have ell done a lot of acquisitions end now they ere intrgreting all

the platforms to create a unified play. We are also building a newer product in-house; we are the platlbrms to create a unified play. We ere also building a newerprodJct in-house; we are

doing a few acquisitions to augment our product mix. So, a lot of this R&D will origin around doing a few acq.esitions to augment our prodxt mix. So. a bt of this R&D will origin around

the integrations of some of these platforms that we will be doing to create a unified play to drive the Mit gestic as of some of thew platthrms that we will be doing to create a unified play to drive

better analytic% better ROI from en enterprise standpoint. So. &am that perspective the R&D better analytics, better ROI from an enterprise standpoint. So, from that perspective, the R&D

send will abet inching up from this &newel year on onwards where we have already done one spend will start inching up from this financial year on onwards where we have already done one acquisition, we ere looking at doing a few more to augment the product capabilities end then acquisition, we are looking at doing a few more to augment the product capabilities and then

integrate into a unified platform. So, at this point in time about a 2% off our revenue, we have integrate into a unified platIbrm. So. at this point in time abort a 2% off our revenue. we have

already internally earmarked towards R&D *end besides the acquisition cots that we will be already internally earmarked towards R&D spend besides the acquisition costs that we will be

incurring. incurring.

Moderator: Meaner:

Thank you very roxh. Ladies and g: Women. due to time consderintthat will be the last unseen Thank you very much. Ladies and gentlemen, due to time constraint that will be the last question

kir today. I will now had the conference over to Mr. Hardie Sawn kir closing comments. for today. I will now hand the conference over to Mr. Hardik Sangani for closing comments.

Hardik Sangani: fistrdlY &ragtag:

Thank you everyone for joining the call and we appreciate Route Mobile for giving us the Thank you everyone kir joining the call end we appreciate Rots Mobile kir giving us the

opportunty kir hosting their Q4 earnings call. Now I hand over the call to the management kir opportunity for hosting their Q4 earnings call. Now I hand over the call to the management for

their closing comments. their closing comments.

Rajdlp Gupta: Rajdip Gupta:

Jut wanted to icy dears to everyone and we as a company ere going to firm more on our new Just wanted to say thanks to everyone and we as a company are going to focus more on our new

product line and new oting, and we are booking farmed to make we: we themes: our gross product line and new offering, and we are looking forward to make sure we increase our gross

margin. And kir Roue Mobile I think that this financial year is going to kcus more anagram margin. And for Route Mobile I think that this financial year is going to focus more on a gross

margin growth. Thank you everyone. margin growth. Thank you everyone.

Moderator: Meaner:

Thank you very etch. On behalf of IOCI SOCAniC3 United. that concludes this cortence. Thank you very much. On behalf of ICICI Securities Limited, that concludes this conference.

Ito* you fiejoining us, you may row disconnect your lees. Thank you. Thank you for joining us, you may now disconnect your lines. Thank you.

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