Key Financial Figures - Consolidated Performance (Veefin Group)

Q1 FY27 Consolidated Financials (₹ Crore, except EPS and margins):

  • Revenue from Operations: ₹113.97 Cr (Q4 FY26: ₹131.35 Cr; QoQ change: -13.2%)
  • Other Income: ₹0.62 Cr (Q4 FY26: ₹5.26 Cr; QoQ change: -88.2%)
  • Total Income: ₹114.59 Cr (Q4 FY26: ₹136.61 Cr; QoQ change: -16.1%)
  • Operating Expenses: ₹91.55 Cr (Q4 FY26: ₹97.03 Cr; QoQ change: -5.6%)
  • EBITDA: ₹22.42 Cr (Q4 FY26: ₹34.32 Cr; QoQ change: -34.7%)
  • EBITDA Margin: 19.7% (Q4 FY26: 26.1%; QoQ change: -6.5 percentage points)
  • Depreciation: ₹5.91 Cr (Q4 FY26: ₹6.40 Cr; QoQ change: -7.7%)
  • Finance Cost: ₹4.70 Cr (Q4 FY26: ₹3.97 Cr; QoQ change: +18.3%)
  • Profit Before Tax: ₹12.43 Cr (Q4 FY26: ₹29.21 Cr; QoQ change: -57.4%)
  • Tax: ₹2.93 Cr (Q4 FY26: ₹13.23 Cr; QoQ change: -77.9%)
  • PAT (total; before NCI): ₹9.50 Cr (Q4 FY26: ₹15.98 Cr; QoQ change: -40.5%)
  • PAT Margin: 8.3% (Q4 FY26: 12.2%; QoQ change: -3.8 percentage points)
  • Diluted EPS (attributable): ₹2.48 (Q4 FY26: ₹3.10; QoQ change: -20.0%)

Management comparatives for Q1 FY26 were referenced but specific figures were not provided in the disclosure.

Key Financial Figures - Standalone Performance (Veefin Solutions Ltd.)

Q1 FY27 Standalone Financials (₹ Crore, except EPS and margins):

  • Revenue from Operations: ₹23.14 Cr
  • Other Income: ₹1.57 Cr (Q4 FY26: ₹1.49 Cr; QoQ change: +5.3%)
  • Total Income: ₹24.71 Cr (Q4 FY26: ₹25.66 Cr; QoQ change: -3.7%)
  • Operating Expenses: ₹10.31 Cr (Q4 FY26: ₹10.38 Cr; QoQ change: -0.7%)
  • EBITDA: ₹12.83 Cr (Q4 FY26: ₹13.79 Cr; QoQ change: -6.9%)
  • EBITDA Margin: 55.4% (Q4 FY26: 57.1%; QoQ change: -1.6 percentage points)
  • Depreciation: ₹3.57 Cr (Q4 FY26: ₹4.00 Cr; QoQ change: -10.9%)
  • Finance Cost: ₹1.87 Cr (Q4 FY26: ₹2.07 Cr; QoQ change: -9.8%)
  • Profit Before Tax: ₹8.97 Cr (Q4 FY26: ₹9.21 Cr; QoQ change: -2.6%)
  • Tax: ₹2.23 Cr (Q4 FY26: ₹3.45 Cr; QoQ change: -35.4%)
  • Profit After Tax: ₹6.74 Cr (Q4 FY26: ₹5.76 Cr; QoQ change: +17.1%)
  • PAT Margin: 29.1% (Q4 FY26: 23.8%; QoQ change: +5.3 percentage points)
  • Diluted EPS: ₹2.49 (Q4 FY26: ₹2.05; QoQ change: +21.5%)

Standalone Revenue Composition (Q1 FY27):

  • Recurring Revenue: Majority of standalone revenue
  • Domestic / Export Mix: Near-balanced

Operational and Business Highlights

Installed Base & Production:

  • Products are in production across 50+ institutions in 16 countries.
  • All products run on the shared Veefin 4.0 chassis architecture.

Q1 FY27 Wins:

  • The quarter included flagship wins, which are multi-product and multi-country deals. Client names are withheld under confidentiality.

Revenue Conversion Timeline:

  • A typical enterprise deal converts to revenue over ~21 months: implementation first, license fee at go-live (~9 months), and Annual Maintenance Contract (AMC) fees a year later.

Receivables Discipline - Standalone DSO:

  • Days Sales Outstanding (DSO) improved to 80 days in Q1 FY27 from 149 days in FY24.

Amalgamation Update:

  • The structural simplification scheme is progressing. Stakeholder approvals are secured and the Chairman's report is submitted.
  • The scheme now moves to the NCLT petition filing stage, followed by obtaining statutory No Objection Certificates (NOCs) and the final order.

PSB Xchange Platform:

  • The platform is moving from build-out to operating throughput, with expanding lender integrations, sourcing partner connectivity, and live corporate financing activity.

Qualified Pipeline (Q1 FY27):

  • Total Qualified Pipeline: $1.2 Bn
  • Product Breakdown: Supply Chain Finance (77%), Internet Banking (10%), Trade Finance (10%), Collections (3%)
  • Geography Breakdown: Southeast Asia (38%), Middle East (24%), South Asia (18%), Africa (10%), Other (10%)
  • The pipeline reflects a shift towards enterprise platform conversations across multiple products and geographies.

Third-Party Recognition:

  • #1 in IBSi Sales League Table for Wholesale Transaction Banking
  • Industry Leader in IBSi SCF Spectrum (repeat placement across two consecutive editions)
  • Euromoney Awards 2025: World's Most Innovative Software Provider for Supply Chain Finance

FY27 Execution Priorities

Execution is centred on monetising the broader platform while preserving standalone product economics.

Disclaimer and Contact

The document includes a comprehensive Safe Harbour statement regarding forward-looking statements. Investor relations queries can be directed to Mr. Anuj Sonpal at Valorem Advisors (Tel: +91-22-49039500, Email: veefin@valoremadvisors.com).