Slide 1: Exchange filing cover letter
April 24, 2025 To, BSE Limited National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, “Exchange Plaza” Dalal Street, Bandra-Kurla Complex, Bandra (East), Mumbai - 400 001 Mumbai - 400 051 Scrip Code: 532790 Symbol: TANLA Dear Madam/Sir, Sub: Investor Updates for the quarter and year ended
Slide 2: Investor Update Q4 FY25 and Full Year FY25
Investor Update Q4 FY25 and Full Year FY25 Captured at the heart of transformation — Tanla’s Board of Directors at the Innovation & Experience Centre. Apr 24, 2025 (From left to right: Row 1 - François Ortalo-Magné, Deepak Goyal, Uday Reddy, Rahul Khanna || Row 2 - Naiyya Saggi, Sanjay Kapoor, Dr. R
Slide 3: Safe Harbor and Other Information
Safe Harbor and Other Information The CPaaS business is evolving at a fast pace in India with very little information available in the public domain on the overall market. The financial community has always sought a response on the total market size, key drivers of the industry and the competitive l
Slide 4: FY25 Results – Snapshot
FY25 Results – Snapshot All numbers are ₹ unless otherwise stated Revenue Gross Profit EBITDA FCF 40,277 Mn 10,507 Mn 6,908 Mn 5,145 Mn 2.5% growth 26.1% gross margin 17.2% EBITDA margin 101% of PAT PAT EPS Cash(1) 5,073 Mn 37.76 10,085 Mn Increased by ₹ 3275 Mn post dividends 12.6% PAT margin payou
Slide 5: Q4 FY25 Results – Snapshot
Q4 FY25 Results – Snapshot All numbers are ₹ unless otherwise stated Revenue Gross Profit EBITDA FCF 10,244 Mn 2,588 Mn 1,635 Mn 1,715 Mn 2.4% growth 25.3% gross margin 16.0% EBITDA margin 146% of PAT PAT EPS Cash(1) 1,173 Mn 8.74 10,085 Mn Increased by ₹ 877 Mn post dividends 11.5% PAT margin payou
Slide 6: Tanla has track record of Strong Performance
Tanla has track record of Strong Performance All numbers are ₹, unless otherwise stated Sustained Value Creation Best-in-class Execution World Class Culture 15% 16% 100+ 7+ 1000+ 19,749 Revenue growth1 Gross profit1 Innovations3 Patents4 Employees in India and Training hours beyond 12% 7,956 Mn 2,00
Slide 7: Tanla focuses on two synergistic businesses - Digital Platforms & Enterprise Communications
Today, Tanla focuses on two synergistic businesses - Digital Platforms & Enterprise Communications Undisputed market leadership Predictable growth ~35% market share in India Deeply embedded E2E omnichannel presence SMS, Voice, OTT (WhatsApps, TrueCaller, RCS) other advanced messaging channels, chatb
Slide 8: Financial Outcomes
Financial Outcomes 7 Investor CONFIDENTIAL AND Update Q4 FY25 and Full Year PROPRIETARY Tanla hosts the leadership from London Business School at the Tanla Innovation & Experience Centre Any use of this material without specific permission is strictly prohibited
Slide 9: Revenue growth led by OTT
Revenue : Revenue growth led by OTT 21% 10% (1%) (0.2%) Revenue grew by 1.9% YoY 1.9% grew and 2.4% sequentially 10,055 10,022 10,007 10,004 10,244 in Q4FY25. In FY25 revenue grew by 2.5% led by OTT OTT contribution to overall Y-o-Y growth revenue was at 29.2% in Q4 FY25, as against 18.2% in Q4 FY24
Slide 10: Q4 FY25 – Digital Platforms & Enterprise Communications Revenue
Q4 FY25 – Digital Platforms & Enterprise Communications Revenue Digital Platforms Enterprise Communications 4.2% grew YoY 1.6% grew YoY (₹ Mn) 900 938 9,155 9,306 Q4 FY24 Q4 FY25 Q4 FY24 Q4 FY25 9 Investor Update Q4 FY25 and Full Year
Slide 11: Full Year – Digital Platforms & Enterprise Communications Revenue
Full Year- Digital Platforms & Enterprise Communications Revenue Digital Platforms Enterprise Communications 1.3% de-grew 2.9% grew (₹ Mn) (excl. Vi Impact grew by 18.4%) 3,689 3,640 35,588 36,637 FY24 FY25 FY24 FY25 10 Investor Update Q4 FY25 and Full Year
Slide 12: Gross profit and margin
Gross profit 26.7% 26.9% 26.2% 26.1% 25.3% Gross profit de-grew by 0.7% QoQ. Gross margin was at 25.3% in Q4 FY25 2,686 2,694 2,618 2,607 2,588 Enterprise communications gross profit de-grew by 0.1% QoQ Margin% On sequential basis, gross margin % decreased by 79 bps (₹ Mn) Q4 FY24 Q1 FY25 Q2 FY25 Q3
Slide 13: Gross margin profile
Gross margin profile B 98.2% 98.7% 98.7% 98.7% 98.7% Platform A business Overall margin A Decrease in gross margin by 79 bps QoQ 26.7% 26.9% 26.2% 26.1% Q4 Q1 Q2 Q3 Q4 25.3% FY24 FY25 FY25 FY25 FY25 B Digital Platform gross Q4 Q1 Q2 Q3 Q4 margin contribution to FY24 FY25 FY25 FY25 FY25 total at 35.8
Slide 14: Efficiency Metrics
Efficiency Metrics 60% 63% 2,686 2,588 EBITDA was at ₹ 1,635 Mn, grew by 1.9% YoY and sequentially remains flat 1,604 1,635 (₹ Mn) EBITDA margin was at 16.0% Indirect cost was at 9.3% of revenues in Q4FY25, as against 9.7% in Q3FY25 Q4 FY24 Q4 FY25 EBITDA Gross Profit EBITDA to Gross Profit conversi
Slide 15: Indirect cost walk FY25
Indirect cost walk FY25 Employee cost increased ₹466 Mn during the due to net new additions , 466 86 28 (122) (96) salary increments and RSU 3,599 3,237 Operating expenses were at ₹ 3,599 Mn in FY25 , as against ₹3,237 Mn in (₹ Mn) FY24.Indirect cost were 8.9% of revenue and 34.3% of gross profit in
Slide 16: EBITDA and EBIT
Operating Income EBITDA 1,886 1,754 1,634 1,635 1,604 (₹ Mn) EBITDA grew by 1.9% YoY and remains flat QoQ to ₹ 1,635 Mn in Q4 FY25. Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 EBIT EBIT was at ₹ 1,364 Mn and EBIT margin 1,658 at 13.3% in Q4 1,520 1,388 1,364 1,376 (₹ Mn) Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25
Slide 17: Free Cash Flow Generation
Free Cash Flow Generation 2,165 In Q4, we generated ₹ 1,715 mn as free cash flow (146% of PAT). For FY25 we 1,715 generated ₹ 5,145 mn (101% of PAT) 1,492 DSO at 72 days in Q4, improved by 10 days from Q3 744 520 (₹ Mn) Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 16 Investor Update Q4 FY25 and Full Year
Slide 18: Profit After Tax & EPS
Profit After Tax & EPS Profit After Tax (PAT) 1,412 1,302 1,302 1,185 1,173 (₹ Mn) PAT was at ₹ 1,173 Mn in Q4, due to lower gross profit generation Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Effective tax rate for Q4 FY25 is at 19.6% EPS 9.69 10.50 9.70 8.82 8.74 EPS was at ₹ 8.74 in Q4 FY25 (₹) Q4 FY
Slide 19: Return on Capital Employed
Return on Capital Employed 41% excluding CCE 34% 31% 34% 38% 28% Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 ROCE- Return on capital employed; CCE- Cash & cash equivalents 18 Investor Update Q4 FY25 and Full Year
Slide 20: Strong Balance Sheet
Strong Balance Sheet All numbers are ₹, unless otherwise stated Tanla wins the Commendation Award for Corporate Governance by Indian Chamber of Commerce 22,683 Mn 10,885 Mn 41% Strong Equity and Reserves Cash & cash equivalents ROCE (excluding cash & cash equivalents) 19 Investor Update Q4 FY25 and
Slide 21: Business Outcomes
Business Outcomes 20 Investor Update Q4 FY25 and Full Year Tanla named one of the Best Organizations for Women by ET Edge
Slide 22: Winning New Logos
Winning New Logos Revenue from new customers (₹ Mn) Count of customers 58% 145 88 New Customers added on WA and RCS 67 45 Q4 FY24 Q4 FY25 1. New customers include every unique contracting entity added during the year 21 Investor Update Q4 FY25 and Full Year
Slide 23: Customer Concentration
Customer Concentration Revenue from top 20 customers (₹ Mn) 12 out of 20 customers of 41% 49% last year continue to be in Top 20 4,057 5,051 Q4 FY24 Q4 FY25 22 Investor Update Q4 FY25 and Full Year
Slide 24: Customer cohorts
Customer cohorts 333 325 322 322 customers contributing > ₹ 10 Mn annual revenue, de-grew by 0.9% on QoQ basis 16 18 16 Customers contributing > ₹ 10 Mn 65 59 53 annual revenue grew by 2.4% on QoQ basis 252 250 251 Q4 FY24 Q3 FY25 Q4 FY25 Count of customers >₹ 500 Mn >₹ 100 Mn - < ₹ 500 Mn >₹ 10 Mn
Slide 25: Customer cohorts revenue
Customer cohorts 9,470 9,221 9,439 Customers on-boarded during the trailing twelve months (TTM) have 4,586 added ₹ 364 Mn in Q4 FY25 3,664 3,799 Top 20 customers are 3,679 3,246 2,686 contributing to 49.5% of revenue (₹ 5,051 Mn) in Q4 FY25 2,127 2,176 2,167 Q4 FY24 Q3 FY25 Q4 FY25 Revenue from >₹ 5
Slide 26: Annexures
Annexures 25 Investor CONFIDENTIAL AND Update Q4 FY25 & Full Year PROPRIETARY Tanla wins the 15th Aegis Graham Bell Award for Innovation in Telcom for Anti-Scam and Anti-Spam Solution Any use of this material without specific permission is strictly prohibited
Slide 27: Profit & Loss Q4 FY25
In ₹ Mn, unless otherwise stated Q4 FY25 Q4 FY24 ∆% Q3 FY25 Revenue from operations (net) 10,244 10,055 2 10,004 Cost of services (7,656) (7,369) 4 (7,398) Profit & Loss Gross Profit 2,588 2,686 (4) 2,607 Q4 FY25 Operating Expenses (953) (1,081) (12) (973) EBITDA 1,635 1,604 2 1,634 Depreciation and
Slide 28: Profit & Loss FY25
In ₹ Mn, unless otherwise stated FY25 FY24 ∆% Revenue from operations (net) 40,277 39,278 3 Cost of services (29,770) (28,719) 4 Profit & Loss Gross Profit 10,507 10,559 0 FY25 Operating Expenses (3,599) (3,237) 11 EBITDA 6,908 7,322 (6) Depreciation and Amortization (978) (853) 15 EBIT 5,931 6,470
Slide 29: Audited Balance Sheet March 31, 2025
Audited Balance Sheet March 31, 2025 In ₹ Mn, unless otherwise stated 31 Mar 2025 31 Mar 2024 In ₹ Mn, unless otherwise stated 31 Mar 2025 31 Mar 2024 Assets Equity & Liabilities Non-current assets Equity share capital 134 135 Property, plant and equipment 2,289 2,058 Other equity 22,548 19,284 Inte
Slide 30: Condensed Cash flow Q4 FY25
In ₹ Mn, unless otherwise stated Q4 FY25 Q3 FY25 Cash flow before changes in working capital 1,459 1,711 Condensed Changes in working capital Cash generated from operations 997 2,456 1,240 2,951 Cash flow Taxes Cash flow from operating activities (454) 2,003 (319) 2,632 Q4 FY25 Net investments in ta
Slide 31: Condensed Cash flow FY25
In ₹ Mn, unless otherwise stated FY25 FY24 Cash flow before changes in working capital 6,273 6,834 Changes in working capital 1,039 104 Cash generated from operations 7,312 6,938 Taxes (891) (1,039) Cash flow from operating activities 6,421 5,899 Condensed Net investments in tangible and intangible
Slide 32: Free Cash Flow Q4 FY25
Free Cash Flow In ₹ Mn, unless otherwise stated Q4 FY25 Q4 FY24 ∆% Q3 FY25 Q4 FY25 Operating cash flow 2,002 1,921 4% 2,632 Capital expenditure (287) (429) (33%) (467) Free cash flow 1,715 1,492 15% 2,165 Free cash flow in percent of total revenue 17% 15% - 22% Free cash flow as % of PAT 146% 115% -
Slide 33: Free Cash Flow FY25
Free Cash Flow In ₹ Mn, unless otherwise stated FY25 FY24 ∆% FY25 Operating cash flow 6,421 5,899 9% Capital expenditure (1,276) (1,588) (20%) Free cash flow 5,145 4,311 19% Free cash flow in percent of total revenue 13% 11% - Free cash flow as % of PAT 101% 79% - 32 Investor Update Q4 FY25 and Full
Slide 34: About Us
About Us 33 Investor CONFIDENTIAL AND Update Q4 FY25 & Full Year PROPRIETARY Team Tanla unwinds with the Tanla Premier League Any use of this material without specific permission is strictly prohibited
Slide 35: Tanla embeds Gen AI across all its platforms
Tanla embeds Gen AI across all its platforms Our intelligent core underlying all our products, revolutionizing digital interactions through Gen Al capabilities Wise Albert Audience.ai Content.ai Channel & Partner.ai (how to (whom to send) (what to send) send) ATP Trubloq Wisely Scam identification a
Slide 36: Greenfield opportunities: Trubloq and ATP
We have also successfully addressed several Greenfield opportunities Trubloq ATP With world’s 1st blockchain-enabled communication stack. It First of its kind anti-smishing platform. works with a consortium of telecom players and other Identification Prevention Elimination stakeholders to maintain t
Slide 37: Our Customers love us in India and beyond
Our Customers love us in India and beyond We are the player of choice in India… …and serve global giants in 4 regions ~30% 9/10 top banks served USA & Europe Global Tech giants CPaaS market share SEA 50%+ 7/10 top insurance of total revenues contributed by 50 of our top 100 customers, retained Middl
Slide 38: Our Market Leadership in Enterprise Communication (1/2)
Our Market Leadership in Enterprise Communication (1/2) Tech. backed use cases High Customer Stickiness Unmatched scale with 35% CPaaS market share 50 of Top 100 accounts > 5 years 5% increase post ValueFirst acquisition Double digit growth in every customer cohort since inception ~32% share i
Slide 39: Our Market Leadership in Enterprise Communication (2/2)
Our Market Leadership in Enterprise Communication (2/2) Tech. backed use cases Newer Channels AI/ML based solutions developed for a leading Turbo charging our growth bank 4x YoY growth in RCS Impact: 2X increase in loyalty (offers availed) for the bank Serving enterprise curated needs Context
Slide 40: Great Financial Track Record
All figures in ₹ Mn 10,040 ~4x 40,277 Revenues 2019 Revenues 2025 Great Financial Track Record We continue to 967 ~7x 6,908 deliver over the EBITDA 2019 EBITDA 2025 last six years 298 ~17x 5,073 PAT 2019 PAT 2025 39 39 Investor Update Q4 FY25 and Full Year
Slide 41: Thank You
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