Slide 1: Cover letter to stock exchanges
Ref: MPSL/SE/17/2026-27 Date: 15 May 2026 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, Ind
Slide 2: Earnings Presentation Q4 & FY26
EARNINGS PRESENTATION Q4 & FY26 www.mpslimited.com www.mpslimited.com
Slide 3: Disclaimer
DISCLAIMER This presentation contains forward-looking statements, inter alia, to enable investors to comprehend the 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
Slide 4: Financial Excellence: Record Earnings & Margin Expansion
FINANCIAL EXCELLENCE: RECORD EARNINGS & MARGIN EXPANSION Q4 & FY26 Earnings HEADLINE NUMBERS – ALL REPORTED FY26 EPS - RECORD EBITDA FY26 FY26 EBITDA MARGIN ROCE FY26 ₹102.11 +16.3% YoY ₹236 Cr YoY: +11.8% 30.7% Research Segment: 39.9% 38.2% www.mpslimited.com © 2026 | MPS Limited | 3
Slide 5: Strategic Evolution: Decades of Consistent Expansion
STRATEGIC EVOLUTION: DECADES OF CONSISTENT EXPANSION From Macmillan Heritage in 1970 to an AI-first Knowledge Solutions Company in 2026 1970–2002 2002–2012 2013–2017 2018–2022 2023–2026 FOUNDATION LISTED & REPOSITIONED U.S. EXPANSION & PLATFORM ENTRY CAPABILITY EXPANSION GLOBAL DIVERSIFICATION Found
Slide 6: Market Opportunity: Leading the AI Transition
MARKET OPPORTUNITY: LEADING THE AI TRANSITION An $800bn+ market at the AI-led intersection Education I Research II Corporate Learning III Total Addressable Market TAM · TODAY $187 billion $45 billion $104 billion Projected Market BY 2030 $348 billion $95 billion $335 billion Growth Rate 21.70% CAGR
Slide 7: Where We Compete: A Defensible Right to Win
WHERE WE COMPETE: A DEFENSIBLE RIGHT TO WIN Three addressable markets · Combined SAM ~$16bn Research Education Corporate Learning SAM BOTTOMS-UP ~$3 billion ~$5 billion ~$8 billion MPS Share Today % OF SPEND ~7–9% <0.5% <0.2% Research integrity Adaptive learning AI roleplays Scope of Work AI-first p
Slide 8: AI at MPS: Production Not Pilot
AI AT MPS: PRODUCTION NOT PILOT Turns trusted IP into AI products that do not hallucinate Shipping today, Tied to margin and growth outcomes. AI is in revenue, not in slideware – shipping inside flagship products across every segment we operate in. PRODUCTION · NOT PILOT RESEARCH SEGMENT I EDUCATION
Slide 9: FY27 Outlook: Comfortably Crossing the ₹300 Cr+ EBITDA Mark
FY27 OUTLOOK: COMFORTABLY CROSSING THE ₹300 CR+ EBITDA MARK 300 + FY27 OUTLOOK 236 Based on Current Run Rate, the 211 company is expected to comfortably cross ₹300 Cr in EBITDA in FY27 ₹300 Cr+ 169 FY24 → FY27 · EBITDA growth path ₹169 Cr to ₹300 Cr+ IMPLIED 3-YR CAGR FY24 FY25 FY26 FY27E FY24 FY25
Slide 10: Growth Strategy: A Multi-Pronged Roadmap
GROWTH STRATEGY: A MULTI-PRONGED ROADMAP 01 02 03 04 05 COMMERCIAL ACCOUNT DEPTH TOP-OF-FUNNEL PLATFORM · AI INORGANIC Go-to-Market Strategy Scale STAR Program New Customer New Capabilities M&A Acquisition ■ Refocused market-based ■ Proactive management & ■ Play the role of price warrior ■ Expand pl
Slide 11: Financial Performance Q4 FY26
FINANCIAL PERFORMANCE Q4 FY26 www.mpslimited.com © 2026 | MPS Limited | 10
Slide 12: Q4 Highlights: Aggressive Core Growth
Q4 HIGHLIGHTS: AGGRESSIVE CORE GROWTH With steady core business compounding and the integration of Unbound Medicine, the portfolio is well-positioned for sustainable FY27 growth. REPORTED REVENUE RESEARCH SOLUTIONS w/o AJE Q4 FY26, YoY Q4 FY26, YoY +12.66% +23.04% Double-digit topline surge. INR 20,
Slide 13: Q4 Performance: Expanding Net Profitability
Q4 PERFORMANCE: EXPANDING NET PROFITABILITY Metrics Q4 FY26 Q4 FY25 YoY Var% Q3 FY26 QoQ Var% Reported Revenue (INR Lakhs) 20,516 18,211 12.66% 18,249 12.42% EBITDA (INR Lakhs) 6,751 5,601 20.53% 5,758 17.25% PAT (INR Lakhs) 4,704 4,707 -0.06% 3,550 32.51% EBITDA (%) 32.90% 30.76% 2.14% 31.55% 1.35%
Slide 14: Core Operations (Excl. AJE): Sustaining High-Margin Growth
CORE OPERATIONS (EXCL. AJE): SUSTAINING HIGH-MARGIN GROWTH Metrics Q4 FY26 Q4 FY25 YoY Var% Q3 FY26 QoQ Var% Reported Revenue (INR Lakhs) 17,724 14,543 21.87% 15,359 15.40% EBITDA (INR Lakhs) 5,547 4,756 16.63% 4,979 11.41% EBITDA (%) 31.30% 32.70% -1.40% 32.42% -1.12% Headcount 3,146 2,922 7.67% 3,
Slide 15: Research Financials: Consistent Revenue Compounding
RESEARCH FINANCIALS: CONSISTENT REVENUE COMPOUNDING Q4 FY26 Q4 FY25 Variance YoY Q3 FY26 Variance QoQ Metrics WITH AJE WITHOUT AJE WITH AJE WITHOUT AJE WITH AJE WITHOUT AJE WITH AJE WITHOUT AJE WITH AJE WITHOUT AJE Revenue (INR Lakhs) 11,955 9,164 11,116 7,448 7.55% 23.04% 11,554 8,664 3.47% 5.77% E
Slide 16: Education Financials: Scaling a Profitable Pillar
EDUCATION FINANCIALS: SCALING A PROFITABLE PILLAR Metrics Q4 FY26 Q4 FY25 Variance YoY Q3 FY26 Variance QoQ Revenue (INR Lakhs) 6,013 4,606 30.55% 4,433 35.64% EBITDA (INR Lakhs) 2,311 1,999 15.61% 1,807 27.89% EBITDA (%) 38.43% 43.40% -4.97% 40.76% -2.33% Headcount 762 754 1.06% 761 0.13% Education
Slide 17: Corporate Learning Financials: Executing a Profitable Pivot
CORPORATE LEARNING FINANCIALS: EXECUTING A PROFITABLE PIVOT Metrics Q4 FY26 Q4 FY25 Variance YoY Q3 FY26 Variance QoQ Revenue (INR Lakhs) 2,548 2,489 2.37% 2,262 12.64% EBITDA (INR Lakhs) 670 794 -15.62% 431 55.45% EBITDA (%) 26.30% 31.90% -5.60% 19.05% 7.25% Headcount 142 210 -32.38% 145 -2.07% The
Slide 18: Revenue Mix: Balanced and Diversified Portfolio
REVENUE MIX: BALANCED AND DIVERSIFIED PORTFOLIO Research Education Corporate Learning Q4FY26 58.3% 29.3% 12.4% Q3FY26 63.3% 24.3% 12.4% Education is no longer just a supporting player; it is a massive second pillar. Now integrating Unbound Medicine, this segment has surged to nearly 29.3% of our bus
Slide 19: Diversification: A Sustained Strategic Focus
DIVERSIFICATION: A SUSTAINED STRATEGIC FOCUS Metrics Q4 FY26 Q4 FY25 Q3 FY26 North America 52% 49% 48% Revenue by Geography UK/Europe 33% 31% 35% Rest of the World 15% 20% 17% Debtors DSO (Days) 51 53 53 No. of clients billed 906 467 441 Client Top 5 contribution 45% 41% 46% Diversification Top 10 c
Slide 20: Financial Performance FY26
FINANCIAL PERFORMANCE FY26 www.mpslimited.com © 2026 | MPS Limited | 19
Slide 21: FY26: The Year in One Line
FY26 : THE YEAR IN ONE LINE WHAT WE DID THIS YEAR FY26 BASIC EPS Acquired Unbound Medicine Unified Liberate Global ₹102.11 Closed Feb 2026. Established a healthcare knowledge pillar; 97% gross retention. Three legacy entities consolidated into one global Corporate Learning brand in April 2026. +16.3
Slide 22: FY26 Financial Performance: Growth Across the Board
FY26 FINANCIAL PERFORMANCE: GROWTH ACROSS THE BOARD Metrics FY26 FY25 YoY Change Variance % Reported Revenue (INR Lakhs) 76,837 72,689 +4,148 5.71% EBITDA (INR Lakhs) 23,585 21,090 +2,495 11.83% PAT (INR Lakhs) 17,322 14,891 +2,431 16.32% EBITDA (%) 30.69% 29.01% +1.68% 5.79% PAT (%) 22.54% 20.49% +
Slide 23: FY26 Financial Performance Excl. AJE
FY26 FINANCIAL PERFORMANCE EXCL. AJE Metrics FY26 FY25 YoY Change Variance % Reported Revenue (INR Lakhs) 64,573 55,958 +8,615 15.40% EBITDA (INR Lakhs) 19,243 17,249 +1,994 11.56% EBITDA (%) 29.80% 30.82% -1.02% -3.31% Headcount 3,146 2,922 +224 7.67% www.mpslimited.com © 2026 | MPS Limited | 22
Slide 24: Research Solutions: An Anchor with Strong Growth
RESEARCH SOLUTIONS : AN ANCHOR WITH STRONG GROWTH FY26 FY25 Variance Metrics WITH AJE WITHOUT AJE WITH AJE WITHOUT AJE WITH AJE WITHOUT AJE Reported Revenue (INR Lakhs) 46,351 34,088 45,870 29,139 1.05% 16.98% EBITDA (INR Lakhs) 18,509 14,168 16,800 12,960 10.17% 9.32% EBITDA (%) 39.93% 41.56% 36.63
Slide 25: Education Solutions: Accelerating as a Second Pillar
EDUCATION SOLUTIONS: ACCELERATING AS A SECOND PILLAR FY26 FY25 Variance Metrics WITH UB WITHOUT UB WITH UB WITHOUT UB WITH UB WITHOUT UB Reported Revenue (INR Lakhs) 20,890 19,712 15,331 15,331 36.26% 28.58% EBITDA (INR Lakhs) 8,193 7,963 5,746 5,746 42.59% 38.58% EBITDA (%) 39.22% 40.40% 37.48% 37.
Slide 26: Revenue Mix: Balanced and Diversified Portfolio
REVENUE MIX: BALANCED AND DIVERSIFIED PORTFOLIO Research Education Corp. Learning TAKEAWAY FY26 60.3% 27.2% 12.5% FY25 63.1% 21.1% 15.8% www.mpslimited.com © 2026 | MPS Limited | 25
Slide 27: Diversification: A Sustained Strategic Focus
DIVERSIFICATION: A SUSTAINED STRATEGIC FOCUS Metrics FY26 FY25 North America 50% 45% Revenue by Geography UK/Europe 33% 28% Rest of the World 17% 27% Debtors DSO (Days) 51 53 No. of clients billed 1101 738 Client Top 5 contribution 47% 40% Concentration Top 10 contribution 60% 54% Top 15 contributio
Slide 28: Corporate Social Responsibility (CSR): Activities and Impact
CORPORATE SOCIAL RESPONSIBILITY (CSR): ACTIVITIES AND IMPACT TOTAL CSR SPENDING AT A CONSOLIDATED LEVEL IS INR 300 LAKHS FOR FY26 Management Education Girls' Education Merit-based scholarships at ISB under the PGP Young Leaders programme, Partnered with IIMPACT to deliver primary education across 67
Slide 29: Corporate Social Responsibility (CSR): Activities and Impact
CORPORATE SOCIAL RESPONSIBILITY (CSR): ACTIVITIES AND IMPACT IIMPACT Prem Charitable Trust Sambandh Education Prem Charitable Trust Mental Health APD India KHUSHII Girivanvasi & Vedanta Trusts Disability Support Holistic Development Rural Education www.mpslimited.com © 2026 | MPS Limited | 28
Slide 30: Thank You
THANK YOU