Slide 1: Exchange filing cover letter: presentation to analysts and investors
November 5, 2025 The Manager The Manager BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Mumbai - 400 001 Bandra (E), Mumbai - 400 051 Subject: Presentation to be made to the Analysts and / or Institutional Investors
Slide 2: Financial Results Q2 FY26
The World’s Leading Managed Learning Services Company Financial Results Q2 FY26 November 5, 2025 1
Slide 3: Environment
Environment Global growth has been resilient but trending down. IMF expects growth to Clients continue to prioritize cost slowdown from 3.3% (2024) to 3.2% (2025) efficiency, automation, compliance and and 3.1% (2026). The U.S. remains revenue enablement. Scrutiny of comparatively resilient but is c
Slide 4: Q2 FY26: In Perspective
Q2 FY26 : In Perspective • NLSL acquired of 100% stake in MST group in July’25 • Revenue at INR 4,757 Mn; up 20% YoY and up 5% QoQ; In CC, Revenue up 15% YoY and up 3% QoQ • EBITDA at INR 966 Mn, up 3% YoY and up 2% QoQ; OM at 20%, down 324 bps YoY and down 76 bps QoQ • PAT at INR 470 Mn; EPS of INR
Slide 5: Key Financials
Key Financials INR Mn Q2 FY26 Q1 FY26 QoQ Q2 FY25 YoY Net Revenue 4,757 4,514 5% 3,974 20% Operating expenses 3,791 3,562 6% 3,039 25% EBITDA 966 951 2% 936 3% EBITDA% 20% 21% (76) Bps 24% (324) Bps Depreciation & Amortisation 184 181 2% 153 20% Net Other Income/ (Expense) (89) (40) (125)% (38) (136
Slide 6: Revenue Mix: By Sector
Revenue Mix: By Sector Technology & Telecom 13.6% 13.3% 12.2% 11.3% 12.0% Management Consulting & 10.1% 12.8% 12.9% 9.5% 10.4% Professional Services 9.5% 9.2% 9.1% 8.7% 8.7% Aviation & Aerospace 14.2% 13.2% 14.1% 13.6% 14.1% Life Sciences And Healthcare 11.2% 11.2% 11.3% 11.0% 10.3% Energy & Commodi
Slide 7: People
People 2471 2410 2390 2356 2,323 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 • NLSL acquired MST group in Q2FY26. MST group has 84 employees as at Qtr end • Headcount up 81 QoQ and up 148 YoY 6 * excludes project retainers
Slide 8: Shareholding Pattern
Shareholding Pattern 29.1% 26.4% 26.1% 26.0% 24.6% 18.7% 21.5% 21.9% 22.2% 23.7% 17.7% 17.6% 17.6% 17.5% 17.4% 34.5% 34.5% 34.4% 34.4% 34.2% * Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Promoters FPIs DIIs Individuals and Corporates 7 *Includes impact of exercise of ESOPs on holding percentages
Slide 9: Office locations
ATLANTA | BERGEN | DEBRECEN | DUBLIN | GURUGRAM | LEIPZIG | LONDON | MUNICH | ROCHESTER | SHANGHAI | SHEFFIELD | TOULOUSE | VANCOUVER 8