Key Financial Figures - Q1 FY27

Consolidated Performance:

  • Gross Income: ₹66.8 Cr (down 11% QoQ from ₹74.7 Cr, down 21% YoY from ₹85.0 Cr)
  • Net Revenue**: ₹22.1 Cr (down 18% QoQ from ₹27.0 Cr, down 8% YoY from ₹24.2 Cr)
  • EBITDA: ₹0.2 Cr (down 97% QoQ from ₹6.5 Cr, down 91% YoY from ₹2.4 Cr)
  • PBT: ₹(6.2) Cr (compared to ₹1.4 Cr in Q4FY26 and ₹(0.8) Cr in Q1FY26)
  • ESOP Expense: ₹0.2 Cr (down 12% QoQ from ₹0.2 Cr, down 43% YoY from ₹0.4 Cr)
  • PBT (Ex-ESOP): ₹(6.0) Cr (compared to ₹1.7 Cr in Q4FY26 and ₹(0.4) Cr in Q1FY26)

Segment Performance:

iServeU Technologies:

  • Q1 FY27 Net Revenue: ₹15.8 Cr
  • Order Book: ~₹546 Cr across 45 contracts (marginally reduced from previous quarter)
  • Soundbox Deployments: ~539K units
  • Recurring Revenues: Increased from ₹3.7 Cr to ₹5.6 Cr this quarter

NBFC Business:

  • Q1 FY27 PBT (Ex-ESOP): ₹1.0 Cr
  • AUM*: ₹332 Cr (including off-book exposure)
  • Debt-to-Equity: Maintained below 1.0

Strategic and Operational Updates

Demerger Progress:

  • Application filed with NCLT for final approval of proposed demerger scheme
  • Received approvals from SEBI, BSE, and RBI

iServeU Business Challenges:

  • UPI acquiring business model changed from bank-led to aggregator-led model due to partner banks' risk management exercise
  • West Asia situation caused chip shortage and longer delivery times for Soundbox/POS devices
  • Reduced deployment in Q1 due to logistical issues
  • Some orders diverted to other players due to device shortage
  • New tie-ups with Indian manufacturers to increase supply in coming quarters

Business Model Transition:

  • iServeU moving toward predominantly SaaS business model
  • Recurring revenues increased significantly and expected to continue upward trajectory

Forward Guidance and Outlook

iServeU Technologies FY27 Guidance:

  • Net Revenue**: ₹100-115 Cr (marginally reduced targets)
  • EBITDA Margins: 25-30%

NBFC Business FY27 Guidance:

  • AUM*: ₹450-500 Cr
  • Net Profit: ₹8-10 Cr (targets muted to reflect environment)

Consolidated Outlook:

  • Company expects to deliver another profitable year in FY 2027
  • Confidence based on momentum in core revenue streams despite Q1 headline miss

Footnotes

  • Including off book exposure

** Gross Income, net of partner payouts, funding costs, and credit costs