Type of Event: Q1 FY27 Earnings Conference Call and interactive Q&A session.
Date and Time: The call was held on August 7, 2026. A specific start time was not disclosed in the transcript.
Purpose: To discuss the operational and financial performance for Q1 FY27 and provide a strategic update on the business, primarily focused on Spice Money.
Earnings Announcement Timing: The call was held after the quarterly results were announced, as it references a results presentation sent to participants earlier.
Management Participants:
Mr. Dilip Modi – Chairman – DiGiSPICE Technologies Limited
Mr. Sunil Kapoor – Whole-time Director and Chief Financial Officer – Spice Money Limited
Mr. Rohit Sood – Chief Business Officer – Platform Business - Spice Money Limited
Mr. Akash Bafna - Chief Business Officer – Lending Business - Spice Money Limited
Availability of Materials: The transcript of the call was attached to the regulatory filing and is available on the company's investor relations website. A results presentation was also referenced as being sent to participants prior to the call.
UPSI Statement: The moderator began the call with a standard caution that some statements may be forward-looking and actual results may vary due to external factors. The company did not explicitly state that no Unpublished Price Sensitive Information (UPSI) would be shared.
Financial and Operational Highlights
Financial Period Discussed: Q1 FY2027 (Quarter ending June 2026).
Financial Performance:
PAT from continuing business (Spice Money) was ₹9 Crore.
EBITDA was ₹8.6 Crore, a 6.5x increase from the previous quarter.
EBIT grew 87% from the previous quarter and 25% year-on-year.
The company is a zero-debt, asset-light business.
Strategic Themes & Forward-Looking Statements:
Merger Update: The merger of Spice Money into DiGiSPICE is progressing with NCLT, with the second motion filed in the second half of July. The target completion is by March 2027.
Business Strategy: The vision is to build a digital banking stack for "Bharat" (Tier-3/4/5 India), moving from a cash-first to a digital-first economy. The strategy is built on five pillars: Cash-In/Cash-Out (AePS, UPI Cash Point), Collections (BBPS), Financial Services (CASA, insurance), Spice UPI (Bharat's own UPI app), and Lending.
New Engines: The proprietary credit business achieved breakeven in the quarter. The UPI app is in beta.
Revenue Mix Evolution: The goal is for financial product distribution and credit to contribute over 50% of margins in the future, up from ~20-25% currently. The current mix is ~60% from payments (CICO), ~10-12% from collections, and the rest from newer businesses.
Operational Metrics:
Registered Adhikaris (Agents): 16.85 Lakh
Towns Covered: 2.5 Lakh+
Monthly Transacting Customers: 27 Million
Annual Transacting Customers: 170 Million
AePS GTV: ₹13,300 Crore (17.93% market share, recovered to 18.3% in July)
Collections GTV: ~₹1,500 Crore (BBPS contribution grew to 15% of collections GTV)
Savings Accounts Opened: 1.8 Million (with float balances of ~₹320 Crore, up 45% YoY)
The document is a transcript of the earnings conference call, provided as an attachment to the regulatory filing under SEBI LODR Regulations.
The transcript contained extensive financial data, operational metrics, and strategic commentary as presented by management and detailed in the summary above.
The filing was digitally signed by Pankaj Arora, Company Secretary and Compliance Officer.
