Capillary Technologies India Ltd. · NSE:CAPILLARY

Capillary Technologies India — Q3 FY26 Earnings Presentation

26 slides from Capillary Technologies India's earnings presentation, Feb 6, 2026

Slide 1: Stock exchange intimation letter for investor presentation
www.capillarytech.com Date: February 06, 2026 To To, BSE Limited National Stock Exchange of India Limited Listing Department Listing Department Phiroze JeeJeebhoy Towers, Dalal Exchange Plaza , Bandra Kurla Complex Street Fort, Mumbai -400001 Bandra (East), Mumbai -4000051 Scrip Code: 544614 Symbol:
Slide 3: Today's Presenters
Today’s Presenters Aneesh Reddy Anant Sunil M Jain Boddu Head of Corporate Founder, Managing Director Choubey Development and CEO Whole-time Director, CFO and COO Copyright © 2026 Capillary Technologies India Limited 2
Slide 4: Safe Harbour & Disclaimer
Safe Harbour & Disclaimer Forward-Looking Statements Non-GAAP Financial Measures This presentation contains forward-looking statements relating to the business, This presentation includes certain non-GAAP financial measures, but are not limited financial performance, strategy, and results of Capilla
Slide 5: Global Market Leader in Loyalty and Engagement Management
Global Market Leader in Loyalty and Engagement Management Global reach tapping into the unique needs and preferences across regions Offering AI-powered Cloud-native Products and Solutions to Large Enterprise Customers Globally monetized through long term subscription contracts. Canada UK Germany Min
Slide 6: Independent Recognition – Forrester Wave
Independent Recognition – Forrester Wave Loyalty Technology Solutions, Q4 2025 • Market Leadership "Capillary Technologies named a Leader in Loyalty Technology Solutions." — The Forrester Wave : Loyalty Technology Solutions, Q4 2025 * Highest among all vendors in both Current Offering and Strategy *
Slide 7: Our Product Suite that helps brands stay consumer ready
Our Product Suite that helps brands stay consumer ready ! Capillary Platform with aiRA [AI-powered Research Assistant] Capillary’s AI/ML-powered platform captures data and creates a customer single view — from loyal & other customers — for information, insights, engagement and personalised experienc
Slide 8: Our Growth & Profitability Levers
Our Growth & Profitability Levers Growth Profitability NRR Expansion NRR linked margin expansion Expanding Total NRR (111%) led by robust 115% organic expansion from our three Incremental revenue from existing customers comes at higher gross margin, levers of expanding existing customer revenue, viz
Slide 9: Our 5-Layer Platform Innovation Approach
Our 5-Layer Platform Innovation Approach Validated Ideas → Measurable Outcomes Value driven Innovation focuses AI-First Loyalty: Generative & agentic Conversational Interfaces: aiRA AI for campaign design, forecasting, 1 2 agents enable no-code workflows, on analytics, Q&A & campaign fraud preventio
Slide 10: Meet aiRA: Our Most Transformative Leap in AI
Meet aiRA: Our Most Transformative Leap in AI Long before generative AI hit the mainstream, we built our AI- powered nudge framework Advance analytics & reporting based Loyalty Campaigns and Promotion Customer support agent on brand knowledge Automated Setup 9 Copyright © 2026 Capillary Technologies
Slide 11: Headline Results
Headline Results Q3 and 9M FY26 Key Financial Metrics • YoY Performance Revenue from Operations Adjusted EBITDA Profit After Tax (PAT) Q3 FY 26 ₹ 1,840.4 Mn ₹ 301.4 Mn ₹ 79.9 Mn 16% YoY 24% YoY 4% margin 9M FY 26 ₹ 5,432.5 Mn ₹ 712.0 Mn ₹ 90.2 Mn 22% YoY 53% YoY 2% margin 10 Copyright © 2026 Capilla
Slide 12: Revenue Metrics
Revenue Metrics Retention & Annual Recurring Revenue Annual Recurring Revenue (ARR) ₹ in Mn. Net Revenue Retention (NRR) Period Total NRR FY24 113% FY25 121% TTM Dec'24 121% TTM Dec'25 111% Current Breakdown (TTM Dec'25): Organic Business: 115% Inorganic Business: 96% Our ARR as of end of Q3 FY 26 h
Slide 13: Profitability Metrics
Profitability Metrics Margin Expansion • 9M Performance • Normalised PAT Q3 FY26 Performance 9M FY26 Performance ₹ Mn. Key Commentary ● Our 9M Adj. EBITDA grew YoY at 53% to ₹712 Mn. ● The 3M Adj. EBITDA at 24% YoY growth closed at ₹ 301 Mn. at 16.4% margins. ● The 3M Adj. EBITDA growth of 24% does
Slide 14: Profitability & Cash Flow Metrics
Profitability & Cash Flow Metrics Margin Expansion • Cash Efficiency ₹ Mn. Liquidity Position Closing Cash (Q3 FY26) * ₹ 4,635 Mn 9M Operating Cash Flow ₹ 1,009 Mn 9M OCF / 9M Adj. EBITDA ** 142% * Closing cash balances include short term investments and bank deposits ** OCF refers to Net cash flow
Slide 15: Frequently Asked Questions
Frequently Asked Questions Management answers to investor questions on Q3 FY26 performance, growth drivers, margin trajectory, M&A integration, and corporate governance. Growth & Margins & M&A & Performance Profitability Integration Governance & Geo & Vertical ESG Mix Copyright © 2026 Capillary Tech
Slide 16: How has overall business growth and profitability performance been?
Q1 How has overall business growth and profitability performance been? ● Business growth momentum remains robust with 22% YoY revenue growth in 9M FY26 and 16% YoY growth in Q3 FY26. ● This is driven by a combination of NRR (115% organic, 111% overall) and strategic acquisitions: ○ The organic growt
Slide 17: What is the NRR for TTM Dec 25 and the Organic vs Inorganic breakdown?
Q2 What is the NRR for TTM Dec 25 and what does the Organic vs Inorganic breakdown show? NRR Breakdown: TTM Dec 25 Actuals Trailing 12 Months Ending Dec 31, 2025 Business Composition The majority of our business is from organic revenue. Performance Divergence Organic NRR (115%) remains strong, confi
Slide 18: What is the subscription revenue performance in Q3 FY26 vs Q3 FY25?
Q3 What is the subscription revenue performance in Q3 FY26 vs Q3 FY25? Q3 Performance (3 Months) 9M Performance (YTD) Q3 FY25 Sub. Revenue ₹1,155.9 Mn 9M FY25 Sub. Revenue ₹3,435.5 Mn Q3 FY26 Sub. Revenue ₹1,640.8 Mn 9M FY26 Sub. Revenue ₹4,851.9 Mn Absolute Growth +₹484.9 Mn Absolute Growth +₹1,416
Slide 19: What is Top-10 client concentration and how do you mitigate risk?
Q4 What is Top-10 client concentration and how do you mitigate risk? Trend Data The percentage decline occurred alongside absolute growth in Top 5 revenue from ~ ₹1,918 Mn for 9M FY 25 to ~ ₹2,044 Mn in 9M FY 26. This Analysis confirms that reduced concentration is driven by faster growth in the bro
Slide 20: What is our employee strength and functional mix?
Q5 What is our employee strength and functional mix? Total Headcount (Dec 31, 2025) Strategic headcount expansion driven by R&D investments in AI and strengthening delivery capabilities for acquired platform migrations. 703 +6% YoY Functional Breakdown Composition Note: The increased concentration o
Slide 21: What are the Basic & Diluted EPS, RONW, and Net Worth for Q3 FY26?
Q6 What are the Basic & Diluted EPS, RONW, and Net Worth for Q3 FY26? EPS Growth Net Worth 9m FY25 Basic EPS ₹0.16 Q3 FY25 Net Worth ₹4,696.5 Mn 9m FY26 Basic EPS ₹1.22 Q3 FY26 Net Worth ₹8,664.8 Mn Absolute Growth +₹1.06 Absolute Growth +₹3,968.3 Mn YoY Growth % 682% Return on Net Worth 1.34% Finan
Slide 22: What is the status on migrations of acquisition accounts?
Q7 What is the status on migrations of acquisition accounts? Most customers from previous acquisitions (Persuade, Brierley, Rewards+) have successfully migrated to the Capillary stack, only two customers are still to migrate. We are building AI-powered migration capabilities designed to significantl
Slide 23: Any updates on M&A strategy and capital allocation?
Q8 Any updates on M&A strategy and capital allocation? Strategic Evolution & Activity Deal Parameters & Valuation M&A strategy focused on consolidating the fragmented Open to pursuing deals valued between 0.5x to 1.5x revenue loyalty market and migrating customers from old legacy multiples, ensuring
Slide 24: Summary Financials: YoY and Sequential
Summary Financials: YoY and Sequential Note: Numbers have been rounded to nearest whole percentages or one decimal place.. 23 Copyright © 2026 Capillary Technologies India Limited
Slide 25: Glossary
Glossary Non GAAP Metrics Definition Subscription Revenue Revenue from retainership and other services Annual Recurring Revenue Revenue generated by our company which is recurring in nature from sources such as subscriptions, including committed revenue from signed contracts and directly reflects th

Capillary Technologies India — Q3 FY26 Earnings Presentation on 6ix

Capillary Technologies India — Q3 FY26 Earnings Presentation

Slide 1: Stock exchange intimation letter for investor presentation

Slide 2: Investor Presentation Q3 FY26

Slide 3: Today's Presenters

Slide 4: Safe Harbour & Disclaimer

Slide 5: Global Market Leader in Loyalty and Engagement Management

Slide 6: Independent Recognition – Forrester Wave

Slide 7: Our Product Suite that helps brands stay consumer ready

Slide 8: Our Growth & Profitability Levers

Slide 9: Our 5-Layer Platform Innovation Approach

Slide 10: Meet aiRA: Our Most Transformative Leap in AI

Slide 11: Headline Results

Slide 12: Revenue Metrics

Slide 13: Profitability Metrics

Slide 14: Profitability & Cash Flow Metrics

Slide 15: Frequently Asked Questions

Slide 16: How has overall business growth and profitability performance been?

Slide 17: What is the NRR for TTM Dec 25 and the Organic vs Inorganic breakdown?

Slide 18: What is the subscription revenue performance in Q3 FY26 vs Q3 FY25?

Slide 19: What is Top-10 client concentration and how do you mitigate risk?

Slide 20: What is our employee strength and functional mix?

Slide 21: What are the Basic & Diluted EPS, RONW, and Net Worth for Q3 FY26?

Slide 22: What is the status on migrations of acquisition accounts?

Slide 23: Any updates on M&A strategy and capital allocation?

Slide 24: Summary Financials: YoY and Sequential

Slide 25: Glossary

Slide 26: Thank You