AGM Details

The 15th Annual General Meeting was held on Friday, 03rd July, 2026, from 5:00 PM to 6:00 PM at IRIS Hall, Luxera Hotels & Banquets, Mehrauli Gurugram Road. The meeting was conducted in physical mode with Mr. Deepak Tomar (Managing Director) as Chairperson. Requisite quorum was confirmed present in accordance with Section 103 of the Companies Act, 2013.

Key Proceedings

  • Welcome address by Chairman (Annexure-1)
  • Notice of AGM and Auditors Report taken as read
  • Management speech on company performance (Annexure-2)
  • Shareholders queries and management replies (Annexure-3)

Business Transactions

Ordinary Business:

1. Adoption of Audited Standalone Financial Statements along with Report of Board of Directors and Auditors for financial year ended 31st March 2026

2. Re-appointment of Mr. Deepak Tomar (DIN: 02484965) as Managing Director who is liable to retire by rotation

Both ordinary resolutions were passed through remote e-voting and voting at AGM. Copies of resolutions are enclosed as Annexure-4.

Financial Performance Highlights (FY 2025-26)

  • Revenue from Operations: ₹127.42 crore (22% year-on-year growth)
  • EBITDA: ₹12.33 crore
  • EBITDA Margin: 9.68%
  • Profit Before Tax: ₹12.30 crore
  • Profit After Tax: ₹9.28 crore
  • PAT Margin: 7.29%

Business Scale Metrics

  • Over 100 enterprise customers
  • More than 4 crore consumers on platform
  • Over 40 crore transactions processed monthly
  • More than 7 billion reward points earned annually through Novus-powered programs

IPO Details

The company successfully completed its SME IPO on BSE SME platform in March 2026:

  • Issue opened: 17th March 2026
  • Listed: 25th March 2026
  • Funds raised: Approximately ₹60.15 crore
  • Post-issue market capitalization: Over ₹227 crore

Proceeds allocated to product and technology enhancement, business expansion, sales and marketing scale-up, and strategic growth opportunities.

AI Platform Development

Company introduced NoCXy AI, a proprietary AI-powered decision engine under development, analyzing customer behavior in real-time to automate engagement, personalize rewards, predict churn, and optimize loyalty program performance.

Ecosystem includes twelve specialized AI agents across three layers:

1. Member Experience Layer: Personalization, redemption concierge, retention, conversational assistant

2. Merchant and Partner Layer: Campaign intelligence, partner onboarding, fraud intelligence, merchant insights

3. Platform Intelligence Layer: Data and compliance, loyalty intelligence, rule builder, multi-program orchestrator

Growth Strategy

  • Expand global enterprise presence
  • Strengthen leadership in BFSI loyalty
  • Advance AI-powered engagement and product innovation
  • Scale rewards and redemption commerce
  • Accelerate SaaS and recurring-revenue growth

International Expansion Plans

Focus on three high-growth regions:

  • Africa: Expanding banking and fintech partnerships, strengthening regional merchant network
  • APAC: Growing SaaS-based loyalty deployments
  • GCC: Targeting banking, retail, and hospitality with planned new office in Dubai

Recent Client Wins

  • ₹88 crore loyalty and engagement mandate from Central Bank of India
  • Engagement partnership with Bank of Abyssinia in Ethiopia

Board Composition and Officials

  • Mr. Deepak Tomar: Chairman & Managing Director
  • Mrs. Sweta Singh: Executive Director
  • Mr. Vibhore Rastogi: Director & Chief Financial Officer
  • Ms. Sushma Samarth: Independent Director
  • Ms. Pooja Kansal: Independent Director
  • Mr. Rajesh Sureka: Independent Director
  • Mr. Mukesh Makkar: Company Secretary
  • M/s L. N. Nangalya & Co.: Statutory Auditors
  • Mohak Jain & Company: Secretarial Auditors and Scrutinizer
  • KFin Technologies Limited: Registrar and Transfer Agent

Audit Reports for FY ended 31st March 2026 contain no qualification, adverse remark, disclaimer, or reservation having material impact on company affairs.

Revenue Streams

Company disclosed four revenue streams from clients:

1. Technology revenue: Platform fees, technology fees, admin fees

2. Redemption revenue: Margins earned when customers redeem points for flights, hotels, etc.

3. Merchant monetization: Analytics platform providing insights to merchants for campaigns

4. Digital vouchers: Bulk voucher issuance to banks and other players

PPI License Plans

Company currently uses third-party aggregators with PPI licenses (e.g., Qwikcilver) for gift card issuance. Plans to obtain PPI license organically or inorganically in coming months, which would open gift card issuance business and improve EBITDA margins by capturing issuance fees currently paid to partners.

Investment Allocation

Management indicated planned investment allocation:

  • 15-20% in product development
  • Majority in sales and marketing efforts for growth

Voting Results

Voting results and Scrutinizer's report submitted separately.