Slide 1: Stock exchange intimation cover letter under Regulation 30
www.capillarytech.com Date: May 06, 2026 To To, BSE Limited National Stock Exchange of India Limited Listing Department Listing Department Phiroze JeeJeebhoy Towers, Dalal Exchange Plaza , Bandra Kurla Complex Street Fort, Mumbai -400001 Bandra (East), Mumbai -4000051 Scrip Code: 544614 Symbol: CAPI
Slide 2: Investor Presentation Q4 FY26
Investor Presentation Q4 FY 26 May 6, 2026 Copyright © 2026 Capillary Technologies India Limited
Slide 3: Today's Presenters
Today’s Presenters Aneesh Reddy Anant Boddu Choubey Founder, Managing Director Whole-time Director, and CEO CFO and COO
Slide 4: Safe Harbour & Disclaimer
Safe Harbour & Disclaimer Forward-Looking Statements Non-GAAP Financial Measures This presentation contains forward-looking statements relating to the business, This presentation includes certain non-GAAP financial measures, but are not financial performance, strategy, and results of Capillary Techn
Slide 5: Global Market Leader in Loyalty and Engagement Management
Global Market Leader in Loyalty and Engagement Management Global reach tapping into the unique needs and preferences across regions Offering AI-powered Cloud-native Products and Solutions to Large Enterprise Customers Globally monetized through long term UK Canada subscription contracts. Germany Min
Slide 6: Independent Recognition – Forrester Wave
Independent Recognition – Forrester Wave The Forrester wave ( ): Loyalty Platforms, Q4 2025 Capillary Technologies named a Leader in Loyalty Platforms. — The Forrester Wave( ): Loyalty Platforms, Q4 2025 * Highest among all vendors in both Current Offering and Strategy * 5/5 Score in 22 out of 27 Cr
Slide 7: Our Product Suite that helps brands stay consumer ready!
Our Product Suite that helps brands stay consumer ready! Capillary Platform with aiRA [AI-powered Research Assistant] Capillary’s AI/ML-powered platform captures data and creates a customer single view — from loyal & other customers — for information, insights, engagement and personalised experience
Slide 8: Our Growth & Profitability Levers
Our Growth & Profitability Levers Growth Profitability NRR Expansion NRR linked margin expansion FY26 NRR (110%) led by robust 114% organic expansion from our three levers of Incremental revenue from existing customers comes at higher gross margin, expanding existing customer revenue, viz.,: improvi
Slide 9: Our 5-Layer Platform Innovation Approach
Our 5-Layer Platform Innovation Approach Validated Ideas → Measurable Outcomes Value driven AI-First Loyalty: Generative & agentic Conversational Interfaces: aiRA Innovation focuses on AI for campaign design, forecasting, 1 2 agents enable no-code workflows, analytics, Q&A & campaign fraud preventio
Slide 10: AI: Three Layers, One Platform — SOR → SOI → SOA
AI: Three Layers, One Platform — SOR → SOI → SOA 01 02 03 The Foundation The Intelligence The Action System of Record · Loyalty platform System of Intelligence · aiRA Analytics Agent System of Actions · aiRA Action Agents - Leading loyalty program → - The flip from data-first (hunting → - Insights b
Slide 11: Meet aiRA
Meet aiRA Intelligence Across the Marketer Lifecycle Understand Analyze data, surface insights, know your customer Learn Decide Measure outcomes, Brand Context Target audiences, choose optimize, compound channels Act Configure, create, launch campaigns ✓ Campaign Execution ✓ Decision Intelligence ✓
Slide 12: Headline Results
Headline Results Profit After Tax (PAT) Adjusted EBITDA Revenue from Operations ₹ 433.6* Mn Q4 FY 26 ₹ 1,913.5 Mn ₹ 357.2 Mn 23% margin Normalised PAT 26% YoY 28% YoY ₹ 196.6 Mn 10% margin ₹ 523.9** Mn FY 26 ₹ 7,346.0 Mn ₹ 1,069.2 Mn 7% margin Normalised PAT 23% YoY 43% YoY ₹ 322.8 Mn 4% margin * In
Slide 13: Revenue and profitability growth
Revenue and profitability growth Revenue growth ₹ in Mn. Adjusted EBITDA growth ₹ in Mn. ● Delivered strong top-line growth with revenue scaling from ₹2,071 Mn. in FY23 to ₹7,346 Mn. in FY26, representing a 53% CAGR. This reflects consistent performance of our organic and inorganic growth engines. ●
Slide 14: Growth levers and KPIs
Growth levers and KPIs Net Revenue Retention New ACV and CAC % Annual Recurring Revenue (ARR) ₹ in Mn. ● Through our 3 levers of NRR expansion - (i) platform usage overages and inflation, (ii) upsells and cross-sells, and (iii) new geographies, brands, business units of customers - we have achieved
Slide 15: Profitability Metrics
Profitability Metrics ₹ in Mn. Q4 FY 26 Performance Normalised Adj EBITDA / PAT PAT PAT Q4 FY 26 FY 26 PAT (% margins) 433.6 (23%) 523.9 (7%) One-time gratuity expenses impact due to - 16.1 Direct Labour Code ('DLC') IPO expenses 12.6 32.4 FY26 Performance Exceptional income (249.6) (249.6) Normalis
Slide 16: Cash and conversion efficiency
Cash and conversion efficiency 31st March, 2026 cash and bank * ₹5,069.9 Mn. Net cash generated by operating activities (‘OCF’) ₹1,499.1 Mn. FY 26 OCF / Adj. EBITDA 140% FCF ** / PAT 211% ROCE # 3% CROIC ## 22% * Includes cash and cash equivalents, bank and demand deposits and short term investments
Slide 17: PAT to Adj. EBITDA Reconciliation
PAT to Adj. EBITDA Reconciliation ₹ Mn. Particulars Q4 FY 26 Q3 FY 26 Q4 FY 25 FY 26 FY 25 Profit/(loss) after tax from continuing operations 433.6 79.9 130.2 523.9 141.5 PAT margin 23% 4% 9% 7% 2% Exceptional income (249.6) - - (249.6) - Total tax expense/(credit) (8.9) 1.3 (10.7) (12.8) (34.7) Dep
Slide 18: Frequently Asked Questions
Frequently Asked Questions Management answers to investor questions on FY26 performance, growth drivers, margin trajectory, M&A integration, and corporate governance. Growth & Margins & M&A & Performance Profitability Integration Governance & Geo & Vertical ESG Mix Copyright © 2026 Capillary Technol
Slide 19: How has overall business growth and profitability performed?
How has overall business growth and profitability Q1 performance been? ● Business growth momentum remains robust with 23% YoY revenue growth in FY26 and 26% YoY growth in Q4 FY26. ● This is driven by a combination of NRR (114% organic, 110% overall) and strategic acquisitions: ○ The organic growth i
Slide 20: NRR for FY26: Organic vs Inorganic breakdown
What is the NRR for FY26 and what does the Organic vs Q2 Inorganic breakdown show? NRR Breakdown: FY 26 Actuals Trailing 12 Months Ending Mar 31, Business Composition 2026 The majority of our business is from organic revenue. Performance Divergence Organic NRR (114%) remains strong, confirming healt
Slide 21: Subscription revenue performance Q4 FY26 vs Q4 FY25
What is the subscription revenue performance in Q3 Q4 FY26 vs Q4 FY25? Q4 Performance (3 Months) 12M Performance (FY 26) Q4 FY25 Subscription Revenue ₹1,375.6 Mn FY25 Subscription Revenue ₹4,811.1 Mn Q4 FY26 Subscription Revenue ₹1,709.5 Mn FY26 Subscription Revenue ₹6,561.4 Mn Absolute Growth +₹333
Slide 22: Top-10 client concentration and risk mitigation
Q4 What is Top-10 client concentration and how do you mitigate risk? Trend Data The percentage decline occurred alongside absolute growth in Top 5 revenue from ₹2,593 Mn in FY25 to ₹2,784 Mn in FY26. This Analysis reflects reduced concentration driven by faster growth in the broader portfolio. Risk
Slide 23: Employee strength and functional mix
Q5 What is our employee strength and functional mix? Total Headcount (Mar 31, 2026) Strategic headcount expansion driven by R&D investments in AI and 687 +1% YoY strengthening delivery capabilities for acquired platform migrations. Functional Breakdown Note: The increased concentration of headcount
Slide 24: Basic & Diluted EPS, RONW, and Net Worth for Q4 FY26
What are the Basic & Diluted EPS, RONW, and Net Q6 Worth for Q4 FY26? EPS Growth 12M Performance (FY 26) FY25 Basic EPS ₹1.93 Q4 FY25 Net Worth ₹4,814.2 Mn FY26 Basic EPS ₹6.94 Q4 FY26 Net Worth ₹9,366.7 Mn Absolute Growth ₹5.01 Absolute Growth +₹4,552.5 Mn YoY Growth % +260% YoY Growth % +94.6% FIN
Slide 25: Status on migrations of acquisition accounts
Q7 What is the status on migrations of acquisition accounts? Almost all customers from previous acquisitions (Persuade, Brierley, Rewards+) have successfully migrated to the Capillary stack, only two customers remain. We are building AI-powered migration capabilities designed to significantly reduce
Slide 26: Summary Financials: YoY and Sequential
Summary Financials: YoY and Sequential Consolidated Summary Statement of Q4 FY 26 Q4 FY 25 YoY Q3 FY 26 QoQ FY 26 FY 25 YoY Profit and Loss Revenue from operations 1,913.5 1,520.8 26% 1,840.4 4% 7,346.0 5,982.6 23% Total expenses 1,562.8 1,246.4 26% 1,554.2 1% 6,310.2 5,255.3 20% Other operating inc
Slide 27: Glossary
Glossary Non GAAP Metrics Definition Subscription Revenue Revenue from retainership and other services Annual Recurring Revenue Revenue generated by our company which is recurring in nature from sources such as subscriptions, including committed revenue from signed contracts and directly reflects th
Slide 28: Thank You
Thank You For any queries, please reach out to investorrelations@capillarytech.com Copyright © 2026 Capillary Technologies India Limited