Slide 1: Cover letter to stock exchanges: Investor Updates Q2 FY26
Date: October 17, 2025 To, BSE Limited National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, “Exchange Plaza” Dalal Street, Bandra-Kurla Complex, Bandra (East), Mumbai - 400 001 Mumbai - 400 051 Scrip Code: 532790 Symbol: TANLA Dear Madam/Sir, Sub: Investor Updates for the quarter ended S
Slide 2: Investor Update Q2 FY26
Investor Update Q2 FY26 October 17, 2025 Tanla partners with Indosat to protect users from spam and scam using Wisely.ai 1 Investor Update Q2 FY26
Slide 3: Q2 FY26 Results Snapshot
Q2 FY26 Results Revenue Gross Profit EBITA Snapshot ₹10,785 Mn ₹2,868 Mn ₹1,775 Mn 3.6% QoQ 10.0% QoQ 8.2% QoQ PAT EPS FCF Cash ₹1,250 Mn ₹9.43 ₹1,645 Mn ₹8,814 Mn(1) 5.6% QoQ 6.9% QoQ 132% of PAT Post buyback payouts of ₹1,794 Mn 1. Cash balance includes liquid funds which are held as investments a
Slide 4: Confidential and Proprietary
CONFIDENTIAL AND PROPRIETARY Any use of this material without specific permission is strictly prohibited
Slide 5: Tanla focuses on two synergistic businesses – Digital Platforms & Enterprise Communications
Today, Tanla focuses on two synergistic businesses – Digital Platforms & Enterprise Communications Undisputed market leadership Predictable growth ~35% market share in India Deeply embedded E2E omnichannel presence SMS, Voice, OTT (WhatsApp, TrueCaller, RCS) other advanced messaging channels, chatbo
Slide 6: Financial Performance
Financial Performance 5 Investor Update Q2 FY26 5 Team Tanla at IMC 2025
Slide 7: Revenue: third consecutive quarter of growth
Revenue | Delivered third consecutive quarter of revenue growth 10.0% (0.8%) (0.2%) 1.9% 3.8% 7.8% Revenue grew by 3.6% QoQ and 10,785 7.8% YoY led both Digital 10,004 10,244 1,0407 Platforms and Enterprise 10,022 10,007 Communications Y-o-Y growth OTT contribution to overall revenue was at 29.9% in
Slide 8: Gross Profit: highest over past eight quarters
Gross Profit | Delivered highest gross profit over the past eight quarters Gross profit grew by 10.0% QoQ and 9.5% YoY led by Digital Platforms and Enterprise Communications 26.9% 26.2% 26.1% 25.3% 25.0% 26.6% Digital Platform gross profit grew Margin% 11.7% YoY, driven by Wisely.ai and MaaP platfor
Slide 9: Q2 FY26 Gross profit growth led by both business segments
Q2 FY26 | Gross profit growth led by both business segments Digital Platforms Enterprise Communications Grew by 7.2% QoQ and 11.7% YoY Grew by 11.6% QoQ and 8.5% YoY (₹ Mn) 868 905 970 1,898 1,750 1,702 Q2 FY25 Q1 FY26 Q2 FY26 Q2 FY25 Q1 FY26 Q2 FY26 8 Investor Update Q2 FY26
Slide 10: Gross Margin Profile
Gross Margin Profile B 98.7% 98.7% 98.7% 98.7% 98.5% 98.6% Platform Business A Increase in gross margin A by 155 bps QoQ, and 43 Overall margin bps YoY Q1 Q2 Q3 Q4 Q1 Q2 26.9% 26.2% 26.1% 25.3% 25.0% 26.6% FY25 FY25 FY25 FY25 FY26 FY26 B Digital Platform gross margin contribution to Q1 Q2 Q3 Q4 Q1 Q
Slide 11: Efficiency Metrics
Efficiency Metrics 62% 67% 63% 2,868 2,618 2,607 EBITDA grew by 8.2% QoQ and 1.2% YoY 1,754 1,639 1,775 (₹ Mn) EBITDA margin expanded by 70 basis points sequentially to 16.5% in Q2 FY6 Indirect cost was at 10.1% of revenues in Q2 FY26, as against 9.3% in Q1 FY26 Q2 FY25 Q1 FY26 Q2 FY26 EBITDA Gross
Slide 12: Indirect Cost Walk QoQ Excluding Forex Impact
Indirect Cost Walk QoQ Excluding Forex Impact Indirect expenses were ₹1,094 Mn in Q2 FY26, up from ₹967 Mn in Q1 FY26. Excluding forex loss/gain, indirect expenses grew 4.3% QoQ to ₹1,076 Mn. 19 (17) 1,076 1,032 41 Forex loss for the Q2 FY26 is ₹2 Cr as (₹ Mn) against a gain of ₹6 Cr in Q1 FY26 Empl
Slide 13: Operating Income
Operating Income EBITDA 1,886 1754 1,639 1,775 1,634 1,635 (₹ Mn) EBITDA grew by 8.2% QoQ and 1.2% YoY. EBITDA margin increased by 70 bps to 16.5% in Q2 FY26 due to increase in gross profit Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Depreciation was at ₹297 Mn in Q2 PAT FY26, as against ₹271 Mn
Slide 14: Cash Flow: Free Cash Flow at 132% of PAT
Cash Flow | Free Cash flow at 132% of PAT 2,165 1,715 1,645 Cash flow from operations stood at ₹1,847 Mn and Free cash flow is at ₹1,645 Mn in Q2 FY26 (₹ Mn) 744 520 (309) DSO at 77 days in Q2 FY26 improved by 15 days from Q1 FY26 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY25 Q2 FY26 13 Investor Update Q2
Slide 15: Strong Balance Sheet
Strong Balance Sheet ₹22,620 Mn ₹8,814 Mn 39% Strong Equity and Reserves Cash & cash equivalents ROCE (excluding cash & cash equivalents) Debt Free Tanla celebrates early success of Wisely.ai 14 Investor Update Q2 FY26
Slide 16: Business Outcomes
Business Outcomes 15 Investor Team Update Tanla at Q2 FY26 IMC 2025
Slide 17: Customer Cohorts: Expansion of Customer Relationships
Customer Cohorts | Expansion of Customer Relationships 356 333 326 356 customers contributing > ₹10 Mn 15 annual revenue 18 17 Customers on boarded 71 during the trailing twelve 64 59 months (TTM) have added ₹688 Mn in Q2 FY26 251 250 270 11 out of top 20 customers of last year continue to be in top
Slide 18: Customer Cohorts: Increase in Wallet Share
Customer Cohorts | Increase in Wallet share 9,524 10,111 10,469 Customers contributing annualised revenue between ₹100 Mn to ₹500 Mn grew by 4,150 4,996 4,088 36% QoQ and 23% YoY 3,346 3,011 4,103 Sequential growth for ₹50 Mn annualized revenue cohort was impacted as Q1 FY26 2,104 included customers
Slide 19: Winning New Logos
Winning New Logos 99 89 84 Newly acquired customers contributed ₹259 Mn in Q2 FY26 68 77 259 Q2 FY25 Q1 FY26 Q2 FY26 Revenue from new customers (₹ Mn) Count of customers 1.New customers include every unique contracting entity added during the Quarter 18 Investor Update Q2 FY26
Slide 20: Annexures
Annexures Team Wisely.ai cheer for their leaders being rewarded as part of High-Performance Culture at Tanla 19 Investor Update Q2 FY26
Slide 21: Profit & Loss Q2 FY26
In ₹ Mn, unless otherwise Q2 FY26 Q2 FY25 ∆% Q1 FY26 stated Revenue from operations (net) 10,785 10,007 7.8% 10,407 Cost of services (7,917) (7,389) 7.1% (7,800) Gross Profit 2,868 2,618 9.5% 2,607 Profit & Loss Operating Expenses (1,093) (864) 26.5% (967) Q2 FY26 EBITDA 1,775 1,754 1.2% 1,639 Depre
Slide 22: Unaudited Balance Sheet September 30, 2025
Unaudited Balance Sheet | September 30, 2025 In ₹ Mn, unless otherwise Sep 30, June 30, In ₹ Mn, unless otherwise Sep 30, June 30, stated 2025 2025 stated 2025 2025 Assets Equity & Liabilities Non-current assets Equity share capital 133 135 Property, plant and equipment 2,211 2,203 Other equity 22,4
Slide 23: Condensed Cash Flow Q2 FY26
In ₹ Mn, unless otherwise stated Q2 FY26 Q1 FY26 To be updated In ₹ Crores, unless otherwise stated Q1 FY26 Q2 FY26 Cash Cash flow flow before before changes changes in in working working capital capital 1,921 167 1,667 167 Changes Changes in in working working capital capital 199 (139) (1,558) (139
Slide 24: Tanla has Track Record of Strong Performance
Tanla has Track Record of Strong Performance Sustained Value Creation Best-in-class Execution World Class Culture 15% 16% 100+ 11+ 1,000+ 23,163 Revenue growth1 Gross profit1 Innovations3 Patents4 Employees in India and Training hours beyond 12% ₹ 808 Mn 2,500+ 100+ 25% Zero EBITDA growth1 Cash retu
Slide 25: Our Customers love us in India and beyond
Our Customers love us in India and beyond We are the player of choice in India… …and serve global giants in 4 regions ~30% 9/10 top banks served USA & Europe Global Tech giants CPaaS market share 50%+ SEA 7/10 top insurance of total revenues contributed by 50 of our top 100 customers, retained for m
Slide 26: Great Financial Track Record
All figures in ₹ Mn 10,040 ~4x 40,277 Revenues 2019 Revenues 2025 Great Financial Track Record We continue to 967 ~7x 6,908 deliver over the EBITDA 2019 EBITDA 2025 last Six years 298 ~17x 5,073 PAT 2019 PAT 2025 25 25 Investor Update Q2 FY26
Slide 27: Safe Harbor and Other Information
Safe Harbor and Other Information The CPaaS business is evolving at a fast pace in India with very little information available in the public domain on the overall market. The financial community has always sought a response on the total market size, key drivers of the industry and the competitive l
Slide 28: Thank You
Thank You CONFIDENTIAL AND PROPRIETARY Any use of this material without specific permission is strictly prohibited