Capillary Technologies India Ltd. · NSE:CAPILLARY

Capillary Technologies India — Q2 FY27 Earnings Presentation

28 slides from Capillary Technologies India's earnings presentation, Nov 2, 2026

Slide 1: Regulation 30 Investor Presentation Cover Letter to Exchanges
www.capillarytech.com Date: November 02, 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 Boddu Choubey Founder, Managing Director Whole-time Director, and CEO CFO and COO
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 financial performance, strategy, and results of Capillary Techn
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 UK Canada Germany subscription contracts. Min
Slide 6: Independent Recognition – Forrester Wave
Independent Recognition – Forrester Wave The Forrester wave ( ): Loyalty Platforms, Q4 2025 Capillary Technologies named a Leader in Loyalty Platforms — The Forrester Wave( ): Loyalty Platforms, Q4 2025 * Highest among all vendors in both Current Offering and Strategy * 5/5 Score in 22 out of 27 Cri
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 experience
Slide 8: aiRA: The AI Growth Agent For Enterprise Brands
aiRA: The AI Growth Agent For Enterprise Brands Connects to all of a brand's customer data, finds the growth, and does the work across the customer lifecycle. Understands Decides Does the work Every customer signal Where the growth is In their tools, with a person approving Capillary Salesforce Enga
Slide 9: Our Growth levers
Our Growth levers 1. NRR Expansion FY27 Q2 Organic NRR at 116% (CC 109%) from our three levers of expanding existing customer revenue, viz.,: ● platform usage overages and inflationary increases, ● product upgrades and service upsells, and ● new brands, geographies and business units NRR expansion i
Slide 10: Our Profitability levers
Our Profitability levers 1. NRR-linked margin expansion Incremental revenue from existing customers comes at higher gross margin, improving profitability. Expansions leverage hosting and customer support capacity already in place, with these costs not scaling in proportion to incremental revenue. Su
Slide 11: Headline results
Headline results Revenue from Operations Adjusted EBITDA Profit After Tax (PAT) Q2 FY 27 ₹ 2,713.5 Mn ₹ 448.6 Mn ₹ 219.2 Mn 51% YoY 103% YoY 7505% YoY 43% YoY CC 17% margins 8% margins H1 FY 27 ₹ 5,280.0 Mn ₹ 888.8 Mn ₹ 123.7* Mn 47% YoY 116% YoY 1097% YoY 38% YoY CC 17% margins 2% margins * Include
Slide 12: Revenue and profitability growth
Revenue and profitability growth Revenue growth ₹ in Mn. Adjusted EBITDA growth ₹ in Mn. ● Consolidated revenue grew 47% YoY to ₹5,280 Mn. in H1 FY27, with Organic revenue up 23% YoY (15% YoY CC) to ₹3,180 Mn. This reflects consistent performance of our organic and inorganic growth engines. ● ● Adju
Slide 13: ARR and New ACV trend
ARR and New ACV trend Annual Recurring Revenue (ARR) ₹ in Mn. New ACV ₹ in Mn. ● TTM New ACV (excl. 1 large healthcare customer*) grew 79% YoY to ₹933 Mn. further supplementing our growth and efficiencies. The new ACV growth reflects a higher win rate as our AI capabilities increasingly differentiat
Slide 14: Profitability metrics
Profitability metrics Q2 FY27 Performance ₹ in Mn. H1 FY27 Performance ₹ in Mn. 0.2% ● Our H1 FY27 Adj. EBITDA grew YoY at 116% to ₹889 Mn. at 17% margins. ● The 3M Adj. EBITDA at 103% YoY growth closed at ₹449 Mn. at 17% margins. ● PAT increased to ₹ 219 Mn. in Q2 FY27 at YoY growth of 7505% and to
Slide 15: Drivers of margin expansion
Drivers of margin expansion Organic business incl. the contribution from migrated customers contribute more than 90% of the margin growth Consolidated Adj. EBITDA: H1 FY 26 → H1 FY 27 ₹ in Mn. Pure organic business - H1 FY 26 → H1 FY 27 ₹ 227 Mn. reflects a sharp rise in Adj. EBITDA along with signi
Slide 16: Cash and conversion efficiency
Cash and conversion efficiency 30th September, 2026 cash and bank * ₹5,738.2 Mn. 30th September, 2026 borrowings ₹447.2 Mn. Net cash generated by operating activities (H1 FY 27 OCF) ** ₹1,133.4 Mn. H1 FY 27 OCF / Adj. EBITDA 128% H1 FY 27 FCF *** / PAT 506% ROCE # 7% CROIC ## 29% OCF = Net cash gene
Slide 17: PAT to Adj. EBITDA reconciliation
PAT to Adj. EBITDA reconciliation ₹ Mn. Particulars Q2 FY 27 Q1 FY 27 Q2 FY 26 H1 FY 27 H1 FY 26 Profit/(loss) after tax 219.2 (95.5) 2.9 123.7 10.3 PAT margin 8% -4% 0.2% 2% 0.3% Exceptional loss / (income) - 333.9 - 333.9 - Total tax expense/(credit) (19.7) 9.6 (3.2) (10.1) (5.2) Depreciation and
Slide 18: Frequently Asked Questions
Frequently Asked Questions Management answers to investor questions on 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 Technologies
Slide 19: How has overall business growth and profitability performance been?
How has overall business growth and profitability performance Q1 been? • Business growth momentum remains robust with 47% YoY revenue growth in H1 FY27. • This is driven by a combination of NRR (116% organic, 111% overall) and strategic acquisitions: ◦ The organic growth is a result of our: ▪ NRR gr
Slide 20: What is the NRR for H1 FY27 and Organic vs Inorganic breakdown?
What is the NRR for H1 FY27 and what does the Organic vs Inorganic Q2 breakdown show? NRR Breakdown: H1 FY27 Actuals The majority of our business is from organic revenue. Trailing 12 Months Ending September 30, 2026 Performance Divergence Organic NRR of 116% (CC 109%) remains strong, reflecting heal
Slide 21: What is the subscription revenue performance in H1 FY27 vs H1 FY26?
What is the subscription revenue performance in H1 FY27 vs H1 Q3 FY26? H1 Performance (6 Months) H1 FY26 Subscription Revenue ₹3,211 Mn H1 FY27 Subscription Revenue ₹4,977 Mn Absolute Growth +₹1,766 Mn YoY Growth % +55% Performance REVENUE STREAM H1 FY27 REVENUE % OF TOTAL TREND Subscription Revenue
Slide 22: 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 ₹1,386 Mn in H1 FY26 to ₹1,957 Mn in H1 FY27 and in Top 10 revenue from ₹2,001 Mn in H1 FY26 to ₹2,553 Mn in H1 FY27. This reflects reduced
Slide 23: What is our employee strength and functional mix?
Q5 What is our employee strength and functional mix? Total Headcount (Sep 30, 2026) Ongoing operational efficiencies continue to streamline our headcount 752 -1% QoQ Functional Breakdown Composition Strategic Hiring Focus Operational Strategy AI & R&D Expansion: Scaling engineering teams for AIRA pl
Slide 24: What are the Basic & Diluted EPS and other profitability metrics?
What are the Basic & Diluted EPS and other profitability metrics for Q6 H1 FY27? FINANCIAL METRIC H1 FY27 H1 FY26 Basic EPS (₹ per share) ₹1.56 ₹0.14 Diluted EPS (₹ per share) ₹1.54 ₹0.14 FINANCIAL METRIC H1 TTM FY27 FY26 FY25 RONW (Return on Net Worth) 8.6% 7.4% 3.0% Capital Employed ₹11,040.4 Mn ₹
Slide 25: What is the status on migrations of acquisition accounts?
Q7 What is the status on migrations of acquisition accounts? All customers from previous acquisitions (Persuade, Brierley, Rewards+) have successfully migrated to the Capillary stack, with no continuing customers from these acquisitions remaining off the Capillary platform. Migration of the first co
Slide 26: Summary Financials: YoY and Sequential
Summary Financials: YoY and Sequential Consolidated Summary Statement of Q2 FY 27 Q2 FY 26 YoY Q1 FY 27 QoQ H1 FY 27 H1 FY 26 YoY Profit and Loss Revenue from operations 2,713.5 1,793.3 51% 2,566.4 6% 5,280.0 3,592.2 47% Total expenses 2,268.5 1,583.9 43% 2,126.5 7% 4,395.0 3,193.1 38% Other operati
Slide 27: Glossary
Glossary Non GAAP Metrics Definition Subscription Revenue Revenue from retainership 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 the health of the cor

Capillary Technologies India — Q2 FY27 Earnings Presentation on 6ix

Capillary Technologies India — Q2 FY27 Earnings Presentation

Slide 1: Regulation 30 Investor Presentation Cover Letter to Exchanges

Slide 2: Investor Presentation Q2 FY27

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: aiRA: The AI Growth Agent For Enterprise Brands

Slide 9: Our Growth levers

Slide 10: Our Profitability levers

Slide 11: Headline results

Slide 12: Revenue and profitability growth

Slide 13: ARR and New ACV trend

Slide 14: Profitability metrics

Slide 15: Drivers of margin expansion

Slide 16: Cash and conversion efficiency

Slide 17: PAT to Adj. EBITDA reconciliation

Slide 18: Frequently Asked Questions

Slide 19: How has overall business growth and profitability performance been?

Slide 20: What is the NRR for H1 FY27 and Organic vs Inorganic breakdown?

Slide 21: What is the subscription revenue performance in H1 FY27 vs H1 FY26?

Slide 22: What is Top-10 client concentration and how do you mitigate risk?

Slide 23: What is our employee strength and functional mix?

Slide 24: What are the Basic & Diluted EPS and other profitability metrics?

Slide 25: What is the status on migrations of acquisition accounts?

Slide 26: Summary Financials: YoY and Sequential

Slide 27: Glossary

Slide 28: Thank You