Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q2FY27 revenue grew 8% y-y to INR 271 Cr; EBITDA INR 43 Cr (15% margin), normalized EBITDA INR 53 Cr (18% margin) - Tax services revenue grew 13% y-y to INR 121 Cr; market share 65.8% - CRA revenue grew 2% y-y to INR 80 Cr; 4.7 mn new subscribers onboarded - Identity services revenue up 24% y-y to INR 27 Cr; 26% volume growth - New initiatives contributed 16% of H1FY27 revenue, up 56% y-y - Strategic pillars: deepen DPI core, bundle enterprise solutions, expand DPI internationally - Aadhaar Seva Kendra investments largely behind; revenue expected to exceed costs soon - INR 750 Cr cash, zero debt; capital allocation focused on tech upgrades, international expansion - Bundled BFSI solutions to increase revenue and margins with 20+ mandates signed - AgriStack enables data-driven lending; potential to convert INR 9,000-11,000 Cr cost into revenue - NPS subscriber revenue INR 100-500 per subscriber plus INR 40 per account opening; platform business with high margins - Adjusted PAT INR 24 Cr base expected going forward - DPI in a Box offers modular digital infrastructure for international markets - AI and automation deployed to improve productivity and reduce costs