Emudhra Limited · NSE:EMUDHRA
Emudhra — Q1 FY2027 Earnings Presentation
21 slides from Emudhra's earnings presentation, Jul 30, 2026
Slide 1: Exchange filing cover letter for earnings presentation
EL/SEC/2026-27/44 July 30, 2026 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 FY27 Investor Presentation
July 2026 Q127 Investor Presentation Trust Infrastructure for the AI Economy eMudhra Limited | BSE: 543533 | NSE: EMUDHRA
Slide 3: Table of Contents
Table of Contents Business Review 01 Company overview, lines of business, products, trust and data-privacy strategy, R&D, geography and key wins Q127 Financial Overview 02 Performance highlights, revenue growth and operating performance Q127 Financial Statement 03 Consolidated Profit & Loss Statemen
Slide 4: Business Review
01 Business Review Lines of business, trust and data-privacy strategy, product stack, R&D, key wins and recognition 3
Slide 5: Results at a glance
Q127 AT A GLANCE Results at a glance Growth in revenue and profitability, with an increasing focus on product led growth TOTAL INCOME EBITDA PAT Rs. 1,925 Mn Rs. 504 Mn Rs. 320 Mn +27.8% YoY +40.4% YoY · 26.2% margin +27.9% YoY · 16.6% margin ADJ. EBITDA ADJ. PAT INTERNATIONAL REVENUE Rs. 529 Mn Rs.
Slide 6: eMudhra line of business
BUSINESS OVERVIEW eMudhra line of business Three complementary lines of business spanning trust services, enterprise applications and services Trust Services Enterprise Solutions Services 15% -3% YoY 65% +50% YoY 20% +5.0% YoY of Q127 revenue of Q127 revenue of Q127 revenue • CCA mandate to shift to
Slide 7: The next big focus is AI Trust and Governance
INDUSTRY CONTEXT The next big focus is AI Trust and Governance A measured view of why identity and trust infrastructure matters more as AI adoption spreads • 1 Machine identity is growing faster than human identity Analysts covering identity and access management note that APIs, workloads, devices a
Slide 8: Where organisations increasingly need help
INDUSTRY CONTEXT Where organisations increasingly need help Three converging shifts are shaping the CISO and DPO agenda alongside a broadening threat landscape • 1 Certificate lifecycles are • 2 Post-Quantum readiness is • 3 AI and machine identity are shortening becoming an active workstream multip
Slide 9: Trust, translated into business value
BUSINESS OVERVIEW Trust, translated into business value Our product landscape spans identity, trust services, data privacy and risk & governance Agent Identity Identity Governance Context PRODUCT PILLARS RISK & APls 0 SECUREpass 0 emSigner C, CERTlnext 0 PrivaTrust GOVERNANCE MCP Servers Policies PA
Slide 10: Product stack, R&D and roadmap
P RODUC T OV E RV IE W Product stack, R&D and roadmap Five proprietary platforms — capability shipped in Q127, what comes next, and the R&D behind it 0 Shipped Q127 0 Roadmap emCA Certinext SecurePass emSigner PrivaTrust DIGITAL CERTIFICATE CERTIFICATE LIFECYCLE CONVERGED IDENTITY & PAPERLESS DATA P
Slide 11: Awards and accolades
RECOGNITION Awards and accolades Independent recognition across analyst, review-site, employer and compliance categories Frost & Sullivan G2 F&S G2 Global PKI-as-a-Service market recognised as growing above 30% annually, with Leader — Small Business eSignature, Asia; regional Leader badges for emSig
Slide 12: Key project successes and business highlights
Key project successes and business highlights Selected Q127 customer engagements across our core markets, with the quarter's operating updates OTHER BUSINESS HIGHLIGHTS INDIA NORTH AMERICA Large Government Tax Department signs Deeper penetration into the Higher UAE Trust Services expected to launch
Slide 13: Q1 FY27 Financial Overview
02 Q127 Financial Overview Performance highlights, revenue growth and operating performance 12
Slide 14: Q1 FY27 performance highlights
Q127 performance highlights Quarterly performance with continued momentum in international markets TOTAL INCOME EBITDA EBIT NET PROFITS Rs. 1,925 Mn Rs. 504 Mn Rs. 384 Mn Rs. 320 Mn +27.8% YoY +40.4% YoY · 26.2% margin +31.7% YoY · 20.0% margin +27.9% YoY · 16.6% margin ADJ. EBITDA ADJ. EBIT ADJ. NE
Slide 15: Revenue growth
Revenue growth Revenue from Operations Rs. 1,925 Mn — diversified by geography, segment, sector, product and channel By geography By line of business Enterprise ■ India 34% ■ 65% Solutions Trust ■ International 66% ■ 15% Services ■ Services 20% By segment* By channel* By sector* ■ Paperless 20% ■ Di
Slide 16: Operational performance
Operational performance Quarter-on-quarter and year-on-year comparison across EBITDA, EBIT and PAT EBITDA EBIT PAT 320 504 384 296 349 441 250 292 359 Q4 FY26 Q1 FY26 Q1 FY27 Q4 FY26 Q1 FY26 Q1 FY27 Q4 FY26 Q1 FY26 Q1 FY27 (in Rs. Mn) (in Rs. Mn) (in Rs. Mn) eMudhra Limited | Q127 Investor Presentat
Slide 17: Key business indicator trends
Key business indicator trends Revenue mix by line of business and geography, current quarter vs. prior quarter and year-ago quarter Revenue mix — Enterprise Applications & Services / Trust Revenue mix by geography — India / International Services 397 284 292 1,255 1,263 939 1,537 1,623 1,181 679 644
Slide 18: Q1 FY27 Financial Statement
03 Q127 Financial Statement Consolidated Profit & Loss Statement 17
Slide 19: Consolidated statement of profit and loss
Consolidated statement of profit and loss (Rs. INR Millions) Line Item Q1 FY27 Q1 FY26 YoY % Q4 FY26 QoQ % FY 2026 Total Income 1,925 1,506 27.8% 1,966 -2.1% 7,132 Gross Margin 1,103 808 36.4% 1,037 6.3% 3,840 Gross Margin (%) 57.3% 53.7% 52.8% 53.8% EBITDA 504 359 40.4% 441 14.3% 1,654 EBITDA (%) 2
Slide 20: Disclaimer and contact information
Disclaimer and contact information 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’s EMUDHRA LIMITED future business development
Slide 21: Enabling enterprises and consumers to transact securely
Enabling enterprises and consumers to engage, exchange information and transact securely, efficiently and with enhanced customer experience. O F F ICES Amsterdam Bengaluru Bogota Dubai Doha Jakarta Manila Nairobi New Jersey Singapore Utah Vienna © 2026 eMudhra Limited. CIN — L72900KA2008PLC060368. C