Financial Highlights - Consolidated Basis

Full Year FY 2025-26 Performance:

  • Revenue from Operations: ₹6,928.06 Crores (compared to ₹5,146.67 Crores in FY 2024-25)
  • Year-over-Year Growth: 34.6%
  • Profit After Tax (PAT): ₹962.33 Crores (compared to ₹710.04 Crores in FY 2024-25)
  • Year-over-Year Growth: 35.5%
  • Basic and Diluted EPS: ₹4.77 (compared to ₹3.52 in FY 2024-25)

Performance Metrics Improvement:

  • Return on Equity (ROE): Improved to 9.19% from 8.172%
  • Return on Capital Employed (ROCE): Improved to 13.53% from 11.66%

Quarter Ended March 31, 2026 Performance:

  • Revenue from Operations: ₹1,596.64 Crores
  • Profit After Tax (PAT): ₹207.83 Crores
  • Basic and Diluted EPS: ₹1.03

Business Update

FY 2025-26 was described as a year of significant operational progress, technology advancement, organizational restructuring, and business expansion initiatives.

Global AdTech Operations:

The company continued operating its global advertising technology ecosystem across multiple channels:

  • Programmatic Advertising
  • Video Advertising
  • Connected TV (CTV)
  • Mobile Advertising
  • In-App Advertising
  • Gaming Advertising
  • Publisher Monetization
  • Performance Marketing

Operations spanned North America, Europe, APAC, Latin America, and the Middle East.

Industry Engagement:

The company expanded participation at major global advertising conferences including:

  • CES Las Vegas
  • Pocket Gamer Connects London
  • ad:tech Tokyo
  • DMEXCO Cologne
  • ATS London
  • Digiday Publishing Summit Miami
  • POSSIBLE Miami
  • Programmatic Pioneers Summit London
  • Cannes Lions International Festival of Creativity

Product Innovation:

Key technology initiatives included:

  • Rollout of next-generation 100% Fill Technology
  • Migration to server-side architecture
  • Direct sales channel integrations
  • Expanded Prebid integrations
  • OpenRTB demand integrations
  • Amazon TAM integrations
  • Infrastructure optimization initiatives

Strategic Partnerships:

  • Continued collaboration with Dailymotion Advertising
  • Engagement with HUMAN Security for fraud prevention and brand safety
  • Significant ecosystem expansion with Azerion (scaled from 11 domains to 100+ domains)

Recognition:

  • Identified by Jounce Media as a 'needle-moving leader' in supply access growth
  • Featured in Fortune India 500 rankings

Organizational Transformation:

Implemented a four-division operating structure:

1. AdTech Division

2. Services Division

3. Brightcom Defence Division

4. NextGen Businesses Division

Brightcom Defence Launch:

FY 2025-26 marked formal launch of Brightcom Defence with milestones including:

  • Incorporation of Brightcom Defence Private Limited
  • Establishment of operational structures
  • Launch of Brightcom Defence digital platform
  • Expansion of technical teams
  • Progress in UAV intelligence systems
  • Real-time threat analytics initiatives
  • Autonomous decision-support technologies
  • Defence simulation technologies
  • Initial partnership discussions
  • Introduction of MaestroOS to select partners

Leadership Strengthening:

Appointments across finance, operations and product management functions to support future growth.

Segment Information (Consolidated)

The company operates in two segments: Digital Marketing and Software Development.

Segment Revenue for FY 2025-26:

  • Total Sales/Income from Operations: ₹6,92,805.84 Lakhs
  • Net Sales/Income from Operations: ₹6,92,805.84 Lakhs

Segment Results (Profit/Loss before tax and interest):

  • Digital Marketing Segment: ₹1,43,204.88 Lakhs profit
  • Software Development Segment: ₹7.95 Lakhs profit

Segment Assets as at March 31, 2026:

  • Digital Marketing Segment: ₹11,63,981.64 Lakhs
  • Software Development Segment: ₹34,966.28 Lakhs
  • Total Segment Assets: ₹11,98,947.92 Lakhs

Segment Liabilities as at March 31, 2026:

  • Digital Marketing Segment: ₹1,27,267.99 Lakhs
  • Software Development Segment: ₹14,580.00 Lakhs
  • Total Segment Liabilities: ₹1,41,847.99 Lakhs

Auditor's Report - Key Qualifications

The statutory auditors, P R Chandra & Co., issued a qualified opinion on both standalone and consolidated financial results with the following basis for qualification:

Consolidated Financials Qualifications:

1. Vuchi Media Exclusion: Does not include results of associate company M/s Vuchi Media Private Limited

2. Opening Balances Uncertainty: Cannot confirm opening and closing balances as they are subject to change due to SEBI order dated 13.04.2023 requiring examination of financial statements for 2014-15 to 2021-22 by peer-reviewed CA

3. Foreign Branch Reliance: Substantial revenue from US foreign branch relied on CPA confirmation without further verification

4. Foreign Subsidiaries: 86% of group revenue from foreign subsidiaries based on CPA confirmations without extended verification

5. SEBI Order Observations:

  • Investment in Ybrant Media Acquisition Inc (negative equity) not impaired
  • Non-dissemination of subsidiary financial statements on website for 2014-15 to 2021-22
  • Opening balances of investments, receivables and payables with subsidiaries subject to peer review confirmation
  • No provision for impairment of ₹16,886.81 lakhs investment in Vuchi Media despite cancelled acquisition
  • Promoter shareholding may change due to ongoing SEBI appeals
  • SEBI final order dated February 6, 2025 challenged in High Court

6. Vuchi Media Treatment: Company not considered as associate despite share allotment, following deal cancellation

Standalone Financials Qualifications:

Similar qualifications as consolidated regarding opening balances, foreign branch reliance, and SEBI order observations.

Emphasis of Matter:

1. Income Tax and GST appeals pending with authorities

2. Bank balances verified based on management records and statements

Management Response to Qualifications

Management provided detailed responses to each auditor qualification, maintaining that:

  • Financial statements prepared in accordance with Companies Act 2013 and applicable Ind AS
  • Accounting treatments appropriately reflect current legal and factual positions
  • Impairment assessments conducted and considered appropriate
  • Regulatory proceedings under challenge before courts
  • Foreign subsidiary information certified by independent CPAs
  • Vuchi Media non-consolidation appropriate following terminated acquisition

Board Meeting Details

  • Meeting Date: June 7, 2026
  • Commencement: 3:30 PM
  • Conclusion: 6:45 PM
  • Approved by: Audit Committee and Board of Directors

Enclosures

1. Audited Standalone and Consolidated Financial Results for Quarter and Year ending 31 March 2026

2. Audit Report issued by Statutory Auditors