Slide 1: Financial Results Q2 FY26
The World’s Leading Managed Learning Services Company Financial Results Q2 FY26 November 5, 2025 1
Slide 2: Environment
Environment Global growth has been resilient but trending down. IMF expects growth to Clients continue to prioritize cost slowdown from 3.3% (2024) to 3.2% (2025) efficiency, automation, compliance and and 3.1% (2026). The U.S. remains revenue enablement. Scrutiny of comparatively resilient but is c
Slide 3: Q2 FY26: In Perspective
Q2 FY26 : In Perspective • NLSL acquired of 100% stake in MST group in July’25 • Revenue at INR 4,757 Mn; up 20% YoY and up 5% QoQ; In CC, Revenue up 15% YoY and up 3% QoQ • EBITDA at INR 966 Mn, up 3% YoY and up 2% QoQ; OM at 20%, down 324 bps YoY and down 76 bps QoQ • PAT at INR 470 Mn; EPS of INR
Slide 4: Key Financials
Key Financials INR Mn Q2 FY26 Q1 FY26 QoQ Q2 FY25 YoY Net Revenue 4,757 4,514 5% 3,974 20% Operating expenses 3,791 3,562 6% 3,039 25% EBITDA 966 951 2% 936 3% EBITDA% 20% 21% (76) Bps 24% (324) Bps Depreciation & Amortisation 184 181 2% 153 20% Net Other Income/ (Expense) (89) (40) (125)% (38) (136
Slide 5: Revenue Mix: By Sector
Revenue Mix: By Sector Others 18.9% 17.0% 16.1% 15.7% 13.6% BFSI 11.3% 12.0% 13.3% 12.2% 13.6% Life Sciences And 14.2% 13.6% 14.1% Healthcare 13.2% 14.1% 8.7% 8.7% 9.5% Aviation & Aerospace 9.2% 9.1% 11.0% 10.3% 11.2% Energy & Commodities 11.2% 11.3% 12.8% 12.9% 9.5% Management Consulting & 10.4% 10
Slide 6: People
People 2471 2410 2390 2356 2,323 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 • NLSL acquired MST group in Q2FY26. MST group has 84 employees as at Qtr end • Headcount up 81 QoQ and up 148 YoY 6 * excludes project retainers
Slide 7: Shareholding Pattern
Shareholding Pattern 29.1% 26.4% 26.1% 26.0% 24.6% 18.7% 21.5% 21.9% 22.2% 23.7% 17.7% 17.6% 17.6% 17.5% 17.4% 34.5% 34.5% 34.4% 34.4% 34.2% * Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Promoters FPIs DIIs Individuals and Corporates 7 *Includes impact of exercise of ESOPs on holding percentages
Slide 8: ATLANTA | BERGEN | DEBRECEN | DUBLIN | GURUGRAM | LEIPZIG | LONDON |
ATLANTA | BERGEN | DEBRECEN | DUBLIN | GURUGRAM | LEIPZIG | LONDON | MUNICH | ROCHESTER | SHANGHAI | SHEFFIELD | TOULOUSE | VANCOUVER 8