NIIT Learning Systems Limited — Investor Presentation 2025

May 14, 2025

==> picture [169 x 157] intentionally omitted <==

May 14, 2025

The Manager BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001

The Manager

National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051

Subject: Presentation made to the Analysts and / or Institutional Investors

Scrip Code: BSE - 543952; NSE - NIITMTS

Dear Sir,

Pursuant to the requirement of Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the presentation to be made to the Analysts and/or Institutional Investors on the Audited Financial Results of the Company for the financial year ended March 31, 2025.

The same shall be available on our website i.e. www.niitmts.com.

This is for your information and records.

Thanking you,

Yours sincerely,

For NIIT Learning Systems Limited

Deepak Digitally signed by Deepak Bansal Bansal Date: 2025.05.14 15:21:46 +05'30' Deepak Bansal Company Secretary & Compliance Officer

==> picture [381 x 61] intentionally omitted <==

==> picture [185 x 58] intentionally omitted <==

Financial Results Q4 FY25 & FY25 May 14, 2025

==> picture [206 x 75] intentionally omitted <==

Environment

==> picture [74 x 5] intentionally omitted <==

Environment shifted sharply from expected improvement to heightened uncertainty, fear of rising inflation, and sustained high interest rates, intensified by rising tariff tensions.

Increased uncertainty prompting customers to pull back discretionary spends, driving a renewed emphasis on cost control and cautious investment decisions.

==> picture [309 x 186] intentionally omitted <==

----- Start of picture text -----

Cost pressures fostering increased
desire among customers to
centralize and outsource, creating
opportunities to consolidate wallet
share and accelerate new customer
acquisition.
----- End of picture text -----

==> picture [309 x 186] intentionally omitted <==

----- Start of picture text -----

AI presents significant opportunities
to fundamentally transform training
practices, driving efficiency and
effectiveness and providing
strategic advantage amid industry-
wide uncertainty.
----- End of picture text -----

In times of uncertainty “Cost is King”

==> picture [30 x 30] intentionally omitted <==

2

Q4 FY25: In Perspective

==> picture [74 x 5] intentionally omitted <==

• Revenue at INR 4,297 Mn; up 8% YoY and up 3% QoQ

• In CC, Revenue up 6% YoY and up 1% QoQ

• EBITDA at INR 857 Mn, down 14% YoY and down 9% QoQ

• OM at 20%, down 505 bps YoY and down 262 bps QoQ

• PAT at INR 487 Mn down 11% YoY; EPS of INR 3.6 Vs 4.0 last year

• Net Cash at INR 7,036 Mn; higher by INR 37 Mn QoQ

• 3 new MTS contracts added during the quarter (2 new logos); 1 contract renewal

• Number of MTS customers at 93; Revenue Visibility at $ 390 Mn

• Investment of $ 1 Mn in StriVR Labs Inc.

Macro Economic uncertainty leading to near term contraction in consumption; Acceleration in Large deal opportunities focused on Learning transformation & cost takeout

==> picture [30 x 30] intentionally omitted <==

3

FY25: In Perspective

==> picture [74 x 5] intentionally omitted <==

• Revenue at INR 16,533 Mn; up 6% YoY ; In CC, Revenue up 5% YoY

• EBITDA at INR 3,763 Mn, same as last year

• OM at 23%, down 146 bps YoY

• PAT at INR 2,275 Mn up 7% YoY; EPS of INR 16.8 Vs 15.8 last year

• Net Cash at INR 7,036 Mn; higher by INR 1,377 Mn

• 10 new MTS contracts added during the year; 9 new logos

• 6 Scope expansions and 9 contract renewals in FY25

• Number of MTS customers at 93; Revenue Visibility at $ 390 Mn vs $ 335 Mn last year

• Business continues to invest in growth initiatives (organic and inorganic)

Despite increased volatility and uncertainty in the environment, business has continued to outperform, demonstrating strong resilience with industry leading growth and profitability.

==> picture [30 x 30] intentionally omitted <==

4

Key Financials

==> picture [74 x 5] intentionally omitted <==

==> picture [885 x 242] intentionally omitted <==

----- Start of picture text -----

INR Mn Q4 FY25 Q4 FY24 YoY Q3 FY25 QoQ FY25 FY24 YoY
Net Revenue 4,297 3,979 8% 4,189 3% 16,533 15,535 6%
Operating expenses 3,440 2,984 15% 3,243 6% 12,770 11,773 8%
- -
EBITDA 857 995 14% 946 9% 3,763 3,762 0%
- - -
EBITDA% 20% 25% 505 bps 23% 262 bps 23% 24% 146 bps
Depreciation & Amortisation 167 127 32% 159 5% 619 592 5%
-
Net Other Income/ (Expense) 3 (29) 109% 26 90% (80) (200) 119 mn
- -
Operational PBT 693 839 17% 813 15% 3,064 2,971 3%
- -
Tax 206 294 30% 195 5% 789 839 6%
- -
PAT 487 544 11% 617 21% 2,275 2,132 7%
EPS (INR) 3.6 4.0 -11% 4.5 -21% 16.8 15.8 6%
----- End of picture text -----

• Net Other Income / (Expense) in Q4 includes

• Treasury Income higher QoQ because of MTM

• Scheme related expense of Rs 5 Mn pertaining to ESOPs of NIIT Limited held by employees of NLSL at the time of demerger

• Strategic growth & Acquisition expenses of INR 55 Mn includes notional charge of Rs. 35 Mn due to fair value adjustments for Future Earnout liability and Rs. 12 Mn towards Interest expense on Loan related to the acquisition and Exceptional expenses of Rs 7 Mn related to inorganic growth initiatives

• Other Expense of Rs 56 Mn include forex loss of Rs 36 Mn, Interest on Lease Liabilities Rs 9 Mn (Ind AS 116), Bank Charges of Rs 9 Mn and Misc Income of Rs 2 Mn

==> picture [30 x 30] intentionally omitted <==

5

Revenue Mix: By Sector

==> picture [74 x 5] intentionally omitted <==

Technology & Telecom Management Consulting & Professional Services Life Sciences & Healthcare Energy & Commodities BFSI Aviation & Aerospace Others 19.1% 20.2% 19.1% 17.1% 16.3% 10.4% 9.9% 9.3% 9.2% 8.8% 9.4% 10.3% 13.8% 13.4% 12.4% 12.0% 11.2% 11.4% 11.4% 11.1% 13.7% 13.6% 13.4% 14.3% 13.7% 14.5% 14.6% 10.5% 10.2% 13.0% 21.0% 20.2% 22.5% 24.4% 24.7% Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25	Technology & Telecom Management Consulting & Professional Services Life Sciences & Healthcare Energy & Commodities BFSI Aviation & Aerospace Others 19.1% 20.2% 19.1% 17.1% 16.3% 10.4% 9.9% 9.3% 9.2% 8.8% 9.4% 10.3% 13.8% 13.4% 12.4% 12.0% 11.2% 11.4% 11.4% 11.1% 13.7% 13.6% 13.4% 14.3% 13.7% 14.5% 14.6% 10.5% 10.2% 13.0% 21.0% 20.2% 22.5% 24.4% 24.7% Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25
Energy & Commodities
BFSI
Aviation & Aerospace
Others
	Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25

==> picture [30 x 30] intentionally omitted <==

6

Expansion in Tech & Telecom. Consumption in Q4 was lower than expected given market uncertainty

People

==> picture [74 x 5] intentionally omitted <==

==> picture [512 x 246] intentionally omitted <==

----- Start of picture text -----

2410
2,396
2,358 2356
2,323
Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25
----- End of picture text -----

Headcount up 54 QoQ and up 14 YoY

==> picture [30 x 30] intentionally omitted <==

7

* excludes project retainers

Share Holding Pattern

==> picture [74 x 5] intentionally omitted <==

34.6% 18.2% 17.8% 29.4%	18.3% 17.3% 29.8%	34.5% 17.7% 18.7% 29.1%	21.5% 26.4%	__ 34.4% 17.6% 21.9% 26.1%*
			17.6%
	34.6%		34.5%
Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Promoters FPIs DIIs Individuals and Corporates

==> picture [30 x 30] intentionally omitted <==

8

*Includes impact of exercise of ESOPs on holding percentages

==> picture [148 x 148] intentionally omitted <==

==> picture [30 x 30] intentionally omitted <==

A T L A N T A | B E R G E N | D U B L I N | G U R U G R A M | L O N D O N | R O C H E S T E R | S H E F F I E L D | S H A N G H A I | T O L O U S E | V A N C O U V E R