BlackBuck Limited – Investor Presentation Summary

Key Operational Highlights

  • 895,125 Transacting Customers (▲13% YoY)
  • 476,628 Users using at least two services (▲19% YoY)
  • 41.81 Minutes daily App usage by transacting customers
  • ₹7,070 Cr. GTV Tolling (▲17% YoY)
  • 17.41 Cr. total number of tolling transactions (▲12% YoY)
  • 10K+ Physical Touchpoint Network
  • 80%+ Districts Presence

Key drivers of operational performance: Strong performance in tolling business with significant uptick in BlackBuck FASTag issuances, newer highs in device sales for Telematics business, AI-driven productivity gains and hyper-scaling in Superloads business.

Segment-wise Performance

  • Core Businesses (Payments & Telematics): ₹161.39 Cr. revenue (▲31% YoY)
  • Growth Businesses: ₹73.94 Cr. revenue (▲166% YoY)

Explanation of significant changes in segment performance: Core businesses grew 31% YoY despite Q2 being a seasonally low quarter. Growth businesses showed exceptional 166% YoY growth driven by Superloads business placements and revenue growth, and Vehicle Finance business AUM growth.

Financial Highlights

Revenue: ₹235.33 Cr. (▲56% YoY, ▲15% QoQ)

EBITDA: ₹50.61 Cr. (▲39% YoY)

PAT: ₹41.40 Cr. (▲42% YoY)

Net Revenues: ₹182.96 Cr. (▲35% YoY)

Adjusted EBITDA: ₹55.04 Cr. (▲29% YoY)

Contribution Margin: ₹168.79 Cr. (▲33% YoY)

Contribution Margin %: 92% of Net Revenue

Total Expenses: ₹113.75 Cr. (▲36% YoY)

PBT: ₹42.82 Cr. (▲10% YoY)

Drivers of financial performance: Strong growth in acquisition across core categories, investments in SuperLoads, operating leverage trending close to 50% despite upfront investments.

Key Risks: Not explicitly disclosed in the presentation.

Half Year Performance (H1'FY27)

Total Income: ₹473.63 Cr. (▲45% YoY)

Revenue from operations: ₹439.50 Cr. (▲49% YoY)

Net Revenues: ₹347.99 Cr. (▲30% YoY)

Adjusted EBITDA: ₹109.65 Cr. (▲22% YoY)

PAT: ₹83.56 Cr. (▲33% YoY)

GTV Tolling: ₹14,115 Cr. (▲17% YoY)

Geographical Revenue Split

Not Specified

Balance Sheet Snapshot

Not Specified

Capex & Cash Flow Health

Not Specified

Strategic & R&D Initiatives

Investments in Innovation: AI-driven productivity gains in existing cities, hyper-scaling in Expansion cities for Superloads business

Expected impact on growth: Superloads business placements and revenue grew strongly, Vehicle Finance business on track to EBITDA break-even

Strategic Rationale: Calibrated step-up of investments in Superloads continued during the period; in line with Plan

Industry Trends & Business Environment

Not Specified

Management Commentary & Growth Outlook

Strategic Outlook: Core businesses continued to deliver consistent profitability and operating cash flows; operating leverage continues to trend close to 50% despite upfront investments in strong customer acquisition

FY Guidance: Not explicitly provided

Market Share Targets: Not specified

Risks and Opportunities: Total expenses increase of 36% Y-o-Y primarily driven by strong growth in acquisition across core categories and Investments in SuperLoads

ESOP Expense Projection

  • Q3'FY27: ₹3.54 Cr.
  • Q4'FY27: ₹2.63 Cr.
  • Q1'FY28: ₹2.30 Cr.
  • Q2'FY28: ₹2.25 Cr.
  • Q3'FY28: ₹1.83 Cr.
  • Q4'FY28: ₹1.35 Cr.
  • Q1'FY29: ₹1.19 Cr.
  • Q2'FY29: ₹1.16 Cr.