Slide 1: Stock exchange filing cover letter for earnings presentation
EL/SEC/2025-26/51 July 25, 2025 Corporate Relationship Department The Manager, Listing Department BSE Limited National Stock Exchange of India Limited 1st Floor, New Trading Ring Rotunda “Exchange Plaza”, C-1, Block G, Building, P J Towers, Dalal Street, Fort, Bandra-Kurla Complex, Bandra (E), Mumba
Slide 2: Q1 FY2026 Investor Presentation
Q1 FY2026 Investor Presentation Enabling Enterprise Transition to Zero Trust July 2025 www.eMudhra.com
Slide 3: Table of Contents
Table of Contents 1 Q1 FY26 Financial Overview 2 Business Review and Update 3 Q1 FY26 Financial Statements
Slide 4: Q1FY26 Financial Overview
1 Q1FY26 Financial Overview
Slide 5: Q1 FY2026 Performance Highlights
Q1 FY2026 Performance Highlights Total Income Rs. 1,506 Mn The company has achieved strong and + 58.5% YoY diversified revenue growth with sustained margins as a result of a healthy deal EBITDA EBIT Net Profits pipeline in North American market and steady revenue coming from India, Asia Pacific and
Slide 6: Revenue growth
Revenue growth By geography By segment Revenue from Operations (in Rs mn) 36% 20% 64% 1,469 1,473 80% 1,412 1,389 International India Trust Solutions & Services By sector * By product * 924 37% 36% 45% 64% 18% Govt BFSI Enterprise Cybersecurity Paperless By channel * 38% 62% Q2 FY25 Q3 FY25 Q4 FY25
Slide 7: Healthy Operational Performance
Healthy Operational Performance Sustained margins despite increased investments in overseas market growth EBITDA EBIT PAT (in Rs. Mn) (in Rs. Mn) (in Rs. Mn) 372 380 311 313 338 319 278 243 250 295 257 239 223 224 182 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY25 Q1 FY26 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY25 Q1 FY26 Q2
Slide 8: Key Business Indicator Trends
Key Business Indicator Trends Diversified revenue base across both markets and product segments Revenue Mix (Solutions & Services/Trust) Revenue Mix by Geography (in Rs. Mn) (in Rs. Mn) 261 292 302 249 868 856 939 947 246 1,208 1,181 550 1,110 1,140 678 613 544 442 534 374 Q2 FY25 Q3 FY25 Q4 FY25 Q1
Slide 9: Business Review
2 Business Review
Slide 10: Key Project Wins
Key Project Wins Managed PKI/TLS implementation for a large global FMCG company with headquarters in North America Implementation of Certificate Lifecycle Management for a large Bank in UAE Rollout of Identity and Access Management platform for Direct Tax authority platform in Asia Continued acquisi
Slide 11: Other Business Highlights
Other Business Highlights Completed acquisition of Cryptas, headquarted in Austria with presence in the DACH region to bolster our presence in European Union Signed agreement for acquisition of AI Cyberforge, headquartered in North American with a focus on solution in secure credential management to
Slide 12: Building product specialization in the user and device identity space
Building product specialization in the user and device identity space Identity & Access Management Roadmap emCA and emSigner through Securepass Converged Identity, Privileged Access, Data Developed core PKI platform for Single Sign On, Identity Governance Privacy Stack, Crypto Agility large scale is
Slide 13: Products – Cyber Security
2 Products – Cyber Security
Slide 14: Cyber security is a top priority for enterprises
Cyber security is a top priority for enterprises USER LAYER Attack surfaces and threat vectors are increasing at all layers because of increased digitalization AUTHENTICATION & ACCESS INFRASTRUCTURE LAYER At eMudhra, we unify user and device identities—bridging the gap DATA LAYER between application
Slide 15: The problem that exists
The problem that exists Enterprises find it challenging to define and monitor what all applications and data a user can “access”, how they “authenticate” and what “privileges” they have with that access CRM HRMS ERP
Slide 16: eMudhra's User + Device Identity Platforms
eMudhra’s User + Device Identity Platforms Citizen/Customer IAM Population Scale Deployments Identity Verification, Digital ID, Large eGovt, Banking rollouts ePassports, PKI implementation with 100mn+ user base rely on and Authentication our platforms for securing user identity Workforce IAM Configu
Slide 17: eMudhra's Identity and Data Security Roadmap
eMudhra’s Identity and Data Security Roadmap Generative AI Horizontal AI and GenAI capabilities for adaptive risk-based scoring, natural language instructions, reporting and Multi Factor analytics Certificate Authentication, Discovery Single Sign On Enrolment Certinext Identity and Access Securepass
Slide 18: Market Drivers for our cyber security products
Market Drivers for our cyber security products Increasing cyberthreats, Compliance mandates, Data Privacy mandates Quantum Computing + data breaches and cost reduction of TLS and penalties for genAI resulting in to remediate certificate expiry to 47 violation Identity Spoofing, days thereby forcing
Slide 19: Products – Paperless (eSignatures)
2 Products – Paperless (eSignatures)
Slide 20: Regulated industries such as Banking rely on Identity backed digital signatures
Regulated industries such as Banking rely on Identity backed digital signatures for paperless transformation Onboarding eStamping Account Opening Revenue Stamps Product Activation Judicial Stamps Re KYC A mid-sized financial Digital Lending services firm has around Procurement 300 processes that req
Slide 21: emSigner is a platform of choice for enterprise wide eSignature deployments
emSigner is a platform of choice for enterprise wide eSignature deployments in regulated industries Verified Identities and Qualified Electronic Signatures for legal non- repudiation with complex workflow routing R&D focus on GenAI enabled signing workflows for On-prem and Private Cloud offering for
Slide 22: Market Drivers for our eSignature solution
Market Drivers for our eSignature solution Cost optimization, Digital ID Need for on- Localization strong customer implementations in prem/private cloud for requirements such as experience and Europe, emerging and data residency as per eStamping etc efficiency frontier markets regulatory mandates
Slide 23: A quick video overview of how our products work
A quick video overview of how our products work
Slide 24: Q1 FY26 Financial Statements
3 Q1 FY26 Financial Statements
Slide 25: Consolidated Statement of Profit and loss
Consolidated Statement of Profit and loss Q-o-Q Y-o-Y (Rs. Million) Q1 FY2026 Q4 FY2025 Q1 FY2025 FY2025 Growth(%) Growth(%) Total Income 1,506.2 1,492.6 0.9% 950.2 58.5% 5,278.4 Gross Margin 808.2 781.8 3.4% 631.0 28.1% 2845.6 Gross Margin (%) 53.7% 52.4% 66.4% 53.9% EBITDA 380.0 371.6 2.3% 294.5 2
Slide 26: Disclaimer and Contact Information
Disclaimer and Contact Information Disclaimer This presentation contains statements that are “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to “eMudhra” future business developments and
Slide 27: eMudhra enables enterprises and consumers to engage, exchange information and transact securely
eMudhra enables enterprises and consumers to engage, exchange information and transact securely, efficiently and with enhanced customer experience. Amsterdam Bengaluru Bogota Dubai Doha Jakarta Corporate Office: Manila ClN - L72900KA2008PLC060368 Nairobi eMudhra Digital Campus, 12-P1-A & 12-P1-B, Hi