Niyogin Fintech Ltd — Updates, 08-08-2025: Company Update

August 08, 2025

To

BSE Limited

Phiroze Jeejeebhoy Towers

Dalal Street, Fort

Mumbai -400001

BSE Scrip Code: 538772

Subject: CEO's Letter to Shareholders: Ql FY26

Reference: Regulation 30 of Securities and Exchange Board of India (Listing Obligations and

Disclosure Requirements) Regulations, 2015.

Dear Sir/ Ma'am,

Pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure

Requirements) Regulations, 2015, we are enclosing herewith the CEO's Letter to Shareholders for Ql FY26.

The aforesaid information is also being made available on the website of the Company i.e. www.niyogin.com

Your,trul For N" o n Limited

/!k

Tashwin er

MD &CEO

DIN:06572282

Encl: a/a

Niyogin Fintech Limited

(CIN L65910TN1988PLC131102)

Regd. office: M.I.G 944, Ground Floor, TNHB Colony, 1st Main road, Velachery, Chennai, Tamil Nadu -600042.

Corporate office: Neelkanth Corporate IT Park, 311 /312, 3rd Floor, Kirol Road, Vidyavihar (w), Mumbai -400086.

Chennai Tel: 044 47210437 I Mumbai Tel: 022 62514646 I Email: info@niyogin.inIWebsite:www.niyogin.com

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CEO’s Letter to Shareholders

Q1 FY26

I am pleased to share that Q1FY26 saw us reaching new milestones, delivering on our promise

of profitable growth. Our key businesses - NBFC and ISU were both able to deliver a profitable

quarter in line with our guidance.

iServeU, continued to show profit before tax (PBT)-positive quarter and fourth straight quarter

of positive EBITDA, a major achievement that reflects the success of our pivot towards the

high-margin segment i.e. SaaS. The business continues to win new orders and the current

order book stands at a healthy ~Rs. 585 Crores across soundbox solutions, POS solutions

and Bill payment solutions. This company is increasingly being recognized as a leading

provider of reliable, integrated tech-infrastructure. The company is arguably India’s only

company with a cloud-hosted switching platform certified across ten different products

covering the entire transaction life-cycle from issuance to acquiring, delivering resilience, auto-

scalability and 24X7 reliability.

On the NBFC side, we continue to make progress on our Partnership and Alliances led

sourcing strategy with the addition of new partners. We recorded gross disbursements of Rs.

160 Crores in Q1FY26, a new high for us. Among the new lending partnerships, the one

marquee partner is Meesho where we will provide credit in its merchant network. This will help

us in further diversifying our origination capability across segments and product propositions.

We continue to be low levered with a debt equity ratio of below 1.0. There is significant runway

for us to build the loan book given the low level of leverage. The company recently did its first

NCD issuance of Rs 20 Cr to broaden its source of funding.

Some key highlights for the quarter are as follows:

1. iServeU’s financial performance: Gross revenue stood at Rs. 37.5 Crores; Net

revenue stood at Rs. 15.3 Crores (up 12% QoQ); EBITDA and PBT stands at Rs. 1.8

Crores and Rs. 0.37 Crores respectively.

2. iServeU’s key contract wins: We saw strong traction in our contract pipeline, which

has now grown to approximately Rs. 585 Crores comprising of over 31 contracts. One

of the key wins this quarter has been acquiring solutions for Central Bank of India and

Bank of Maharashtra. The company continues to participate in new tenders and we

expect the order book to maintain the trajectory in the coming months.

Powering Ambitions, Powering Growth

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3. NBFC: Partnerships and alliances remain our dominant sourcing channel, contributing

~91% of the overall AUM* (including co-lending and ecosystem channels). The number

of loans processed LTD crossed 1.96 lacs this quarter. Our borrowings stands at Rs.

73.8 Crores. Our AUM* increased by 15% sequentially to Rs. 320.3 Crores. Our Net

Revenue** for Q1FY26 was Rs. 7.8 Crores, a sequential increase of 18%.

4. Update on Scheme of demerger: We are actively engaged with the regulators to give

effect to the demerger scheme. We have provided all the clarifications required by the

regulators and are now awaiting a final revert.

We remain on track to meet our guidance, backed by operational momentum, a robust pipeline

and expanding client footprint. We are confident that our strategic initiatives, partner-first

approach, and strong execution capabilities will continue to hold us in good stead as we

continue this journey.

Thank you for your continued trust and support.

Best Regards,

Tashwinder

Q1FY26

iServeU

● Net revenue stood at INR 15.3 crores; grew 12% QoQ

● Delivered positive EBITDA for the fourth consecutive quarter

● Order book stands at Rs 585 Cr

Niyogin- NBFC

● Delivered a strong turnaround by achieving a positive PBT (Ex-ESOP) of 1.0 Crore in

Q1 FY26

● NBFC Net Revenue** grew to Rs. 7.8 Cores in Q1FY26 up 18% QoQ

● Gross Disbursement for the quarter is 160 crores, highest ever

● LTD loans disbursed stood at 1.96 lacs

*Including off book exposure

**Gross Income, net of partner payouts, funding costs, and credit costs

Financial Highlights

Our Net Revenue** for Q1 FY 26 was Rs. 24.2 Crores compared to Rs. 22.2 Crores in Q4 FY

25. EBITDA was Rs. 2.3 Crores in Q1 FY 26 compared to Rs. 0.5 Crores in Q4 FY 25. Our

PBT (Ex-ESOP) loss was Rs. 0.7 Crores for Q1 FY 26, compared to a loss of Rs. 3.1 Crores

in Q4 FY 25.

Consolidated

(in Rs. Crores) Q1FY26 Q4FY25 QoQ (%) Q1FY25 YoY(%) FY25

Gross Income 85.0 71.1 20% 50.8 67% 307.4

Net Revenues** 24.2 22.2 9% 11.2 116% 67.4

EBITDA 2.3 0.5 360% (6.6) NM (8.6)

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PBT (0.7) (3.1) 77% (9.9) 93% (22.3)

ESOP 0.4 1.2 -67% 0.7 -43% 3.2

PBT (Ex-ESOP) (0.3) (2.0) 85% (9.1) 97% (19.0)

**Gross Income, net of partner payouts, funding costs, and credit costs

www.niyogin.com

FOR FURTHER DETAILS, PLEASE FEEL FREE TO CONTACT

Investor Relations

Abhishek Thakkar

Niyogin Fintech Limited

P: +91 22 6251 4635

E: abhishek.thakkar@niyogin.in

Registered Office

Corporate Office

MIG 944, Ground Floor TNHB Colony, 1st

Main Road,

Velachery Chennai, Tamil Nadu: 600042

Telephone: 044- 61512151

Neelkanth Corporate IT Park 311/312, 3rd

Floor

Kirol Road Vidyavihar West

Mumbai, Maharashtra: 400086

Email: niyogin.compliance@niyogin.in

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