Slide 1: Stock exchange cover letter for earnings presentation
Ref: MPSL/SE/77/2025-26 Date: 12 November 2025 National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor, Plot no. C/1, Department of Corporate Services G Block, Bandra – Kurla Complex, Bandra (East), Phiroze Jeejeebhoy Towers Mumbai - 400 051, India Dalal Street, Mumbai- 400001
Slide 2: Mid-Year Review Q2 & H1 FY26
Mid-Year Review Q2 & H1 FY26 www.mpslimited.com www.mpslimited.com
Slide 3: Disclaimer
Disclaimer This presentation contains forward-looking statements, inter-alia, to enable investors to comprehend Company’s prospects and take informed investment decisions. This report and other statements – written and oral – that we periodically make, contain forward-looking statements that set out
Slide 4: Financial Performance Q2 FY26
Financial Performance Q2 FY26 www.mpslimited.com © 2025 | MPS Limited | 3
Slide 5: Q2 FY26: In Perspective
Q2 FY26: In Perspective ➢ Revenue at INR 19,444 lakh, up 9.42% YoY, driven by healthy growth across Research and Education verticals. ➢ EBITDA improved 13.03% YoY to INR 6,047 lakh, reflecting continued operating leverage and cost discipline. ➢ PBT rose sharply by 43.92%, aided by operational effici
Slide 6: Q2 FY26 Delivers Revenue Growth with Stronger Profit Margins
Q2 FY26 Delivers Revenue Growth with Stronger Profit Margins Metrics Q2 FY26 Q2 FY25 Variance% Revenue Reported Revenue (INR Lakh) 19,444 17,770 9.42% EBITDA (INR Lakh) 6,047 5,350 13.03% Profit PBT (INR Lakh) 6,917 4,806 43.92% PAT (INR Lakh) 5,544 3,524 57.32% EBITDA (%) 31.10% 30.11% 0.99% Margin
Slide 7: Q2 FY26 (AJE Excluded): In Perspective
Q2 FY26 (AJE Excluded*): In Perspective ➢ Revenue stood at INR 16,031 lakh, up 16.61% YoY, reflecting strong organic growth driven by expansion across existing and new customer accounts. ➢ EBITDA increased 23.24% YoY to INR 5,016 lakh, with margins improving to 31.29% (+1.68 pp YoY) on the backdrop
Slide 8: Double Digit Organic Growth in Q2 FY26 (AJE Excluded)
Double Digit Organic Growth in Q2 FY26 (AJE Excluded) Metrics Q2 FY26 Q2 FY25 Variance% Revenue Reported Revenue (INR Lakh) 16,031 13,747 16.61% EBITDA (INR Lakh) 5,016 4,070 23.24% Profit PBT (INR Lakh) 5,985 3,676 62.81% PAT (INR Lakh) 4,640 2,740 69.34% EBITDA (%) 31.29% 29.61% 1.68% Margin PBT (
Slide 9: Balanced and Resilient Revenue mix
Balanced and Resilient Revenue mix Research Education Corporate Learning 17.2% 16.0% 13.7% 13.9% 11.3% 19.5% 21.4% 25.3% 27.7% 27.2% 63.3% 62.6% 61.0% 58.4% 61.5% Q 2 F Y 25 Q 3 F Y 25 Q 4 F Y 25 Q 1 F Y 26 Q 2 F Y 26 The overall revenue mix reflects a balanced and resilient portfolio, driven by str
Slide 10: Organic Strength in Research Solutions outpaces AJE Headwinds
Organic Strength in Research Solutions outpaces AJE Headwinds Q2 FY26 Q2 FY25 Variance 18.32% organic growth reflecting deeper STAR account engagement and accelerating customer acquisition Metrics Without Without Without With AJE With AJE With AJE AJE AJE AJE Revenue growth significantly outpaces th
Slide 11: Education achieves exceptional growth and expands profitability
Education achieves exceptional growth and expands profitability Q2FY26 Q2FY25 Variance Revenue growth of 52.57% from Q2 FY25 to Q2 FY26, Metrics reflecting strong momentum Reported Revenue 5,282 3,462 52.57% EBITDA margin expanded to 42.12%, reflecting the increase (INR Lakh) in operation efficienci
Slide 12: Corporate Learning – Key Updates
Corporate Learning – Key Updates Consolidation of the Corporate Learning Segment MPS has achieved a significant milestone in its Corporate Learning growth strategy, consolidating all business operations under MPS Interactive Systems (MPSi) to build a unified and globally competitive learning powerho
Slide 13: Balanced geographic mix with improved DSO
Balanced geographic mix with improved DSO Metrics Q2 FY26 Q2 FY25 Q1 FY26 North America 49% 45% 51% Geographic UK/Europe 34% 30% 29% Concentration Rest of the World 17% 25% 20% Debtors DSO (Days) 37 44 45 No. of Clients billed * 422 515 404 Client Top 5 contribution 41% 31% 37% Concentration Top 10
Slide 14: Financial Performance H1 FY26
Financial Performance H1 FY26 www.mpslimited.com © 2025 | MPS Limited | 13
Slide 15: H1 FY26: In Perspective
H1 FY26: In Perspective ➢ Revenue stood at INR 38,072 lakh, up 6.22% YoY, driven by continued growth across Research and Education segments. ➢ EBITDA improved 17.14% YoY to INR 11,076 lakh, reflecting operational efficiencies and sustained cost management initiatives. ➢ PBT rose sharply by 41.04% Yo
Slide 16: H1 FY26: Financial Performance
H1 FY26: Financial Performance Metrics H1 FY26 H1 FY25 Variance% Revenue Reported Revenue (INR Lakh) 38,072 35,842 6.22% EBITDA (INR Lakh) 11,076 9,455 17.14% Profit PBT (INR Lakh) 11,867 8,414 41.04% PAT (INR Lakh) 9,068 6,113 48.34% EBITDA (%) 29.09% 26.38% 2.71% Margin PBT (%) 31.17% 23.48% 7.69%
Slide 17: H1 FY26 Excluding AJE: Organic Financial Performance
H1 FY26 Excluding AJE: Organic Financial Performance Metrics H1 FY26 H1 FY25 Variance% Revenue Reported Revenue (INR Lakh) 31,490 26,991 16.67% EBITDA (INR Lakh) 9,293 7,740 20.07% Profit PBT (INR Lakh) 10,251 6,996 46.53% PAT (INR Lakh) 7,712 5,147 49.84% EBITDA (%) 29.51% 28.68% 0.83% Margin PBT (
Slide 18: Balanced and Resilient Revenue mix
Balanced and Resilient Revenue mix Research Education Corp. Learning 16.8% 14.9% 12.6% 18.8% 23.3% 27.4% 64.4% 61.8% 60.0% H1 F Y 25 H2 F Y 25 H1 F Y 26 The overall revenue mix reflects a balanced and resilient portfolio, driven by strong growth in the Education Solutions and a sustained Research So
Slide 19: H1 FY26: Client & Geographic Concentration Summary
H1 FY26: Client & Geographic Concentration Summary Metrics H1 FY26 H1 FY25 North America 50% 45% Geographic UK/Europe 31% 29% Concentration Rest of the World 19% 26% Debtors DSO (Days) 37 44 No. of Clients billed * 490 623 Client Top 5 contribution 39% 29% Concentration Top 10 contribution 49% 38% T
Slide 20: Thank You
THANK YOU