Ksolves India Limited — Interim / Quarterly Report 2024

May 2, 2024

Date: May 02, 2024

To

Listing Compliance Listing Compliance National Stock Exchange of India Ltd. The Bombay Stock Exchange Limited, Exchange Plaza, Plot no. C/1, G Block, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Bandra (E) Dalal Street, Mumbai – 400051 Mumbai – 400 001.

Subject : Key Highlights and Management Commentary on Financials for Q4 FY 2023-24.

Ref : Reg. 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

BSE Scrip Code: 543599; NSE Symbol; KSOLVES; ISIN: INE0D6I01015

Dear Sir/Madam

Pursuant to the above-captioned subject, please find enclosed herewith the Key Highlights and Management Commentary on financials for Q4 FY 2023-24.

A copy of the above is being also made available on the Company’s website i.e., www.ksolves.com

This is for your information and records.

For Ksolves India Limited

Digitally signed by MANISHA MANISHA KIDE KIDE Date: 2024.05.02 17:39:34 +05'30' Manisha Kide Company Secretary & Compliance Officer

Key Highlights of Financial Results: Q4 ’FY23-24:

Highest ever Quarterly Revenue of Rs. 30.45 cr. with Highest ever PAT of Rs. 9.40 Cr.

• Q4 Consolidated Total Revenue increased 34% YoY (30.45 cr. vs 22.7 cr.)

• Q4 Profit After Tax (PAT) increased 28% YoY (9.40 cr. vs 7.33 cr.)

Achieved Milestone of crossing Revenue of Rs. 100 cr.+ during FY 23-24.

• For FY 23-24, Total Revenue increased 39% YoY (108.64 cr. vs 78.31 cr.)

• For FY 23-24, Profit After Tax (PAT) increased 38% YoY (34.15 cr. vs 24.72 cr.)

• Earnings per Share (EPS) for FY23-24 demonstrates an increase of 38%, Rs. 28.81, as compared to Rs. 20.85 in FY22-23.

• Dividend of Rs. 19.50 per share for FY 23-24, paid during the year by way of interim dividend as compared to Rs 15.50 per share for FY 22-23.

Management Commentary:

Business Updates:

• 100+ Happy Clients across 30+ countries.

• Top-5 client’s contribution of 33% and top-10 at 50%.

• Expanded association with one of the largest UAE’s Bank with new order win of another Big Data project.

• Started business relationship with Dubai’s biggest Driving School.

• Expanded association with US based shipping giant by signing off two more contracts with them.

• Investing to develop Big Data product, NiFi, Kafla and MLM (Gen AI).

• Onboarded Vice President of Engineering, brings experience of over 20+ years. He will be heading the newly formed AI/ML Centre of Excellence (CoE).

• Current Headcount increased to 500+ (March’ 23: 400+).

• Continued focus on improving efficiencies by providing higher value add services to the customers with enhanced technology and improved customer service.

• Continued Hiring for laterals and freshers from campus recruitment, with a focus on their training to funnel the business opportunity pipeline.

• Moving to newer and a bigger office at Noida with better infrastructure and capacity.

Other Key Achievements during the year 2023-24:

• Added Fortune 500 company, a Telecom client.

• Launched product ‘Lead Manager Ninja’ and onboarded more customers.

• Pipeline of leads continues to sustain Industry growth.

• Deal wins include an USA based Automotive Heavyweight, a large Australian Digital Marketing firm and a UKbased, Global Commercial Real Estate Services company. A Big Data Project with distinguished banking institution in the Middle East.

• Set up of an AI CoE (Center of Excellence) –This will focus on skilling modules to train employees in generative AI and various LLMs.

• Odoo Team reached 100+ members courtesy number of long-term projects.

• Conducted campus drives and concluded with hiring 69 candidates during FY’24.

Awards and Recognitions during FY’24:

• Upgraded to Salesforce-Summit (Platinum) Tier Partner in March,2024.

• Won the ‘Indian MSME of the Year Award 2023’, recognizing us as the best Service provider at the ET MSME Awards 2023 by Economic Times in December, 2023.

• Won Dun & Bradstreet Business Enterprises of Tomorrow 2023, Business Excellence Award in July, 2023

• Won Great Companies-SME Business Award 2023’, under the ‘Business Services and Consulting Category’ by ‘Great Companies’.

Participation in the events to enhance global market presence:

• Global AI Show at Dubai in April 2024, Our CTO, Mr. Manish Gurnani delivered his Keynote on Big Data meets AI: Unlocking the potential for innovation in April, 2024.

• Ksolves Community Connect in Australia in March 2024.

• Salesforce World Tour Sydney, Australia in February 2024.

• Speaker at 3rd Annual Predictive Analytics Summit 2024 at Mumbai in January 2024.

• Odoo Roadshow in Indore in January’ 2024

• Odoo 17 Roadshow in Ahmedabad in January’ 2024

• Speaker at Odoo Experience 2023 in Belgium , in November 2023.

• Nasscom Lead Generation Seminar in October 2023

• NASSCOM AI's ' 𝗔𝗜 𝗳𝗼𝗿 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗚𝗿𝗮𝗻𝗱 𝗖𝗵𝗮𝗹𝗹𝗲𝗻𝗴𝗲 ' in September 2023.

• Dreamforce 2023 in San Francisco in September, 2023.

• Salesforce Developer Days, Jaipur in September 2023.

Note: All figures are consolidated and in comparisons with same period last year.

DISCLAIMER: This document has been prepared for information purposes only and is not an offer or invitation or recommendation to buy or sell any securities of Ksolves India Ltd (“Ksolves”, "Company“), nor shall part, or all, of this document form the basis of, or be relied on in connection with, any contract or investment decision in relation to any securities of the Company. This document is strictly confidential and may not be copied, published, distributed or transmitted to any person, in whole or in part, by any medium or in any form for any purpose. The information in this document is being provided by the Company and is subject to change without notice. The Company relies on information obtained from sources believed to be reliable but does not guarantee its accuracy or completeness. This document contains statements about future events and expectations that are forward-looking statements. These statements typically contain words such as "expects" and "anticipates" and words of similar import. Any statement in this document that is not a statement of historical fact is a forward looking statement that involves known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. None of the future projections, expectations, estimates or prospects in this document should be taken as forecasts or promises nor should they be taken as implying any indication, assurance or guarantee that the assumptions on which such future projections, expectations, estimates or prospects have been prepared are correct or exhaustive or, in the case of the assumptions, fully stated in the document. The Company assumes no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements. You acknowledge that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the business of the Company.