Blackbuck Ltd · NSE:BLACKBUCK
Blackbuck — Q4 FY2025 Earnings Presentation
14 slides from Blackbuck's earnings presentation, May 27, 2025
Slide 1: Exchange filing cover letter under Regulation 30
` Ref: BLACKBUCK/CORP/2025-26/26 May 27, 2025 To To National Stock Exchange of India Ltd., BSE Limited Exchange Plaza, C-1, Block G Phiroze Jeejeebhoy Towers Bandra Kurla Complex, Dalal Street Bandra (E), Mumbai – 400051 Mumbai – 400001 Scrip Code: 544288, Scrip Symbol: BLACKBUCK, Series – EQ ISIN-
Slide 2: Q4'25 & FY'25 Earnings Presentation
Q4’25 & FY’25 Earnings Presentation
Slide 3: Snapshot of FY'25
Snapshot of FY’25 ₹ 462.31 Cr. ₹ 428.53 Cr. ₹ 138.74 Cr. Revenues1 Contribution Margin2 Adjusted EBIDTA3 ▲ 46.06% YoY ▲ 48.61% YoY ▲ 940.34 % YoY 7,21,932 3,39,701 23,319 Cr. Transacting Customers Users (>=2 Services) GTV Payments ▲ 20.8% YoY ▲ 31.15% YoY ▲ 34% YoY Consistent profitable growth, whil
Slide 4: Trucking industry overview
Trucking industry overview $170-175 Bn Industry 75% trucks owned by small 3.5 Mn Truck Owners operators (<5 Trucks) 8-9% CAGR 12.5 Mn Trucks Cash Leakages Lower Accessibility Lower Accessibility leading to higher Ineffective Ineffective costs Monitoring Monitoring Financing Payments Maintenance Truc
Slide 5: Our Strategy
Our Strategy Offerings Tolling Vehicle Fuel Vehicle Loads Brokerage Fuel Fleet Docs + Pipeline Tracking Payments Finance Platform Platform Sensor … BlackBuck Platform 7,65,397 x 44 Mins Transacting Customers Daily App Usage Truck Operator’s Lifecycle 10K+ 80%+ Distribution Physical Touchpoint Distri
Slide 6: Operational Metrics
Operational Metrics KEY METRICS Q4’25 Q4’24 YoY FY’25 FY’24 YoY Average monthly transacting truck operators Units 765,397 651,390 17.5% 721,932 597,638 20.8% Monthly transacting users using at least two services Units 368,495 291,631 26.4% 339,701 259,011 31.2% Time spent on App Daily by Transacting
Slide 7: Key Highlights
Key Highlights • BlackBuck maintained its growth momentum with the overall revenues of the company growing YoY by ~37% in Q4’25 and ~46% in FY’25 o The core businesses (Tolling and Vehicle tracking solutions) continue to contribute majority revenues and delivered a YoY growth of ~28% in Q4’25 and ~3
Slide 8: Operating leverage at play (1/2)
Operating leverage at play (1/2) YoY Q4’ 25 Q4’ 24 ▲Change Drivers for Operating Leverage Revenues (₹ Cr.) 136.76 99.52 37.25 99% Adj. EBIDTA (₹ Cr.) 53.71 16.73 36.98 Recurring Revenues High Contribution Margin QoQ Q4’ 25 Q3’ 25 ▲Change Strong User Retention Revenues (₹ Cr.) 136.76 122.96 13.81 Ass
Slide 9: Operating leverage at play (2/2)
Operating leverage at play (2/2) Adj. EBITDA (INR Cr) 53.7 42.0 24.6 18.3 16.7 7.5 -5.8 -5.1 Adj. -9.0% -7.5% 8.9% 16.8% 18.7% 23.6% 34.2% 39.3% EBITDA % Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 BlackBuck’s high margin growth ensures profitable and sustainable outcomes 8
Slide 10: P&L Snapshot
P&L Snapshot KEY METRICS Q4’25 Q4’24 YoY FY’25 FY’24 YoY Revenue from Operations ₹ in Cr. 121.81 93.22 30.67% 426.73 296.92 43.72% Other Income ₹ in Cr. 14.95 6.29 137.58% 35.58 19.59 81.61% Total Income1 ₹ in Cr. 136.76 99.52 37.43% 462.31 316.51 46.06% Direct Costs ₹ in Cr. 9.89 8.54 15.89% 33.78
Slide 11: Walkthrough from PAT to Adjusted EBIDTA
Walkthrough from PAT to Adjusted EBIDTA KEY METRICS Q4’25 Q4’24 FY’25 FY’24 Profit / (Loss) after Tax ₹ in Cr. 280.16 (90.75) (8.67) (193.95) Less: Profit/ (Loss) from discontinued operations ₹ in Cr. (5.59) (3.26) 29.62 (26.96) Add: Exceptional items ₹ in Cr. (0.78) - (373.79) - Income tax expense
Slide 12: Thank You!
Thank You! 11
Slide 13: Cashflow
Cashflow PARTICULARS FY’25 FY’24 Profit/(Loss) before Tax ₹ in Cr. (253.30) (193.87) Operating Adjustments: Depreciation and amortisation expense ₹ in Cr. 33.95 25.37 Employee share-based payment expense ₹ in Cr. 10.08 152.42 Share-based payment expense ₹ in Cr. 390.18 - Finance costs ₹ in Cr. 7.13
Slide 14: ESOP Expenses Estimates
ESOP Expenses Estimates Quarter Ended ESOP Charge in P&L (In Cr.)* 30-Jun-2025 6.39 30-Sep2025 5.80 31-Dec-2025 5.28 31-Mar-2026 4.80 30-Jun-2026 2.76 30-Sep-2026 2.76 31-Dec-2026 2.70 31-Mar-2027 1.70 * ESOP Charge is projected assuming no further grants and estimates regarding attrition date. The