KSOLVES INDIA Q2 CONCALL : EXPECTS FY27 REVENUE DECLINE, MAINTAINS 25–30% EBITDA MARGIN GUIDANCE & TARGETS FY28 GROWTH RECOVERY

• MANAGEMENT EXPECTS FY27 REVENUE TO REMAIN BELOW FY26 LEVELS, FOLLOWING SIGNIFICANT BUSINESS RAMP-DOWNS AT TWO LARGE ENTERPRISE CLIENTS • FY27 EBITDA MARGIN GUIDANCE MAINTAINED AT 25–30% DESPITE REVENUE WEAKNESS & LOWER EMPLOYEE UTILIZATION • MANAGEMENT EXPECTS EBITDA MARGINS TO IMPROVE IN Q4 FY27, SUPPORTED BY NEW DEAL CONTRIBUTIONS & COST OPTIMIZATION • FY28 REVENUE EXPECTED TO RETURN TO GROWTH, WITH MANAGEMENT OPTIMISTIC ABOUT APPROXIMATELY 20% GROWTH, SUBJECT TO BUSINESS CONDITIONS • Q2 REVENUE DOWN 4.7% YOY & 8.8% QOQ TO ₹37.8 CR, PRIMARILY DUE TO LARGE-CLIENT RAMP-DOWNS • EBITDA MARGIN DECLINED TO 25.7% VS 30.3% QOQ & 30.4% YOY, REFLECTING LOWER REVENUE & FIXED-COST ABSORPTION • COST OPTIMIZATION MEASURES IMPLEMENTED IN Q2, WITH FULL-QUARTER BENEFITS EXPECTED FROM Q3 FY27 • ONE LARGE ENTERPRISE CLIENT HAS STARTED RAMPING UP AGAIN, WITH MANAGEMENT EXPECTING BUSINESS CONTRIBUTION TO RECOVER • COMPANY SECURED THREE NEW BANKING DEALS IN Q2 ACROSS SOUTH AMERICA, UK & EUROPE, INVOLVING AGENTIC AI, SALESFORCE & DATA ENGINEERING • BFSI REVENUE CONTRIBUTION EXPECTED TO INCREASE IN H2 FY27 AS NEW BANKING PROJECTS RAMP UP • MANAGEMENT CLAIMS AI-ASSISTED ENGINEERS CAN DELIVER 2–3 TIMES HIGHER OUTPUT, SUPPORTING PRODUCTIVITY & LOWER DELIVERY COSTS • COMPANY PRIORITIZING EXISTING WORKFORCE UTILIZATION OVER FRESH HIRING, WITH AI-LED AUTOMATION EXPECTED TO SUPPORT OPERATING LEVERAGE • AGENTIC AI REMAINS A CORE GROWTH STRATEGY, WITH PRODUCTION-LEVEL DEPLOYMENTS ACROSS BANKING, TELECOM & SOFTWARE MODERNIZATION • AUSTRALIAN SALES OFFICE OPERATIONAL WITH INITIAL BUSINESS SECURED, WHILE MANAGEMENT IS ALSO EXPLORING CYBERSECURITY AS A NEW VERTICAL • COMPANY REMAINS DEBT-FREE WITH ₹17.6 CR CASH BALANCE; HIGH CLIENT CONCENTRATION, WEAK DISCRETIONARY SPENDING & DELAYED REVENUE RECOVERY REMAIN KEY RISKS

KSOLVES INDIA LIMITED

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