Analysts/Institutional Investor Meet/Con. Call Updates

02.11.2026 To, To, The Manager, The Manager, Listing Department, Listing Department, National Stock Exchange of India Limited, BSE Limited, ‘Exchange Plaza’, C-1, Block – G, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Dalal Street, Bandra (E), Mumbai – 400 051 Mumbai – 400 001. Ph. No. 022-26598100 Ph. No.022 22721233 Scrip Code : GEOJITFSL - EQ Scrip Code : 532285 Dear Sir/Madam, Sub: Transcript of Analyst/ Institutional Investor Meetings Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, we are enclosing herewith the transcript of the Analyst/ Institutional Investors conference call held on Monday, 26th October 2026 at 3.30 P.M. Thanking you, For Geojit Financial Services Limited Liju K Johnson Company Secretary “Geojit Financial Services Limited Q2 and H1 FY27 Earnings Conference Call” October 26, 2026 E&OE - This transcript is edited for factual errors. In case of discrepancy, the audio recording uploaded on the stock exchanges on October 26, 2026, will prevail. MANAGEMENT: MR. C.J. GEORGE – EXECUTIVE CHAIRMAN – GEOJIT FINANCIAL SERVICES LIMITED MR. JONES GEORGE – MANAGING DIRECTOR – GEOJIT FINANCIAL SERVICES LIMITED MR. SATISH MENON – EXECUTIVE DIRECTOR – GEOJIT FINANCIAL SERVICES LIMITED MS. MINI NAIR – CHIEF FINANCIAL OFFICER – GEOJIT FINANCIAL SERVICES LIMITED MR. JAYAKRISHNAN SASIDHARAN – CHIEF INFORMATION OFFICER – GEOJIT FINANCIAL SERVICES LIMITED MR. RAHUL ROY CHOWDHURY – CHIEF EXECUTIVE OFFICER, PRIVATE WEALTH – GEOJIT FINANCIAL SERVICES LIMITED MR. LIJU JOHNSON – COMPANY SECRETARY – GEOJIT FINANCIAL SERVICES LIMITED Page 1 of 14 Geojit Financial Services Limited October 26, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Q2 and H1 FY27 Earnings Conference Call of Geojit Financial Services Limited. This conference call may contain forward-looking statements about the company, which are based on the beliefs, opinions, and expectations of the company as of the date of this call. These statements do not guarantee future performance and may involve risks and uncertainties that are difficult to predict. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the management’s opening remarks. Should you need assistance during this conference call, please signal an operator by pressing star then zero on your touch-tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Satish Menon, Executive Director, Geojit Financial Services Limited. Thank you, and over to you, sir. Satish Menon: Thank you, operator. Good day, everyone, and thank you for joining for Geojit Financial Services' Quarter Two and H1 FY27 Earnings Call. Joining me on the call today are Mr. C.J. George, Executive Chairman; Mr. Jones George, Managing Director; Ms. Mini Nair, CFO; Mr. Jayakrishnan Sasidharan, CIO; Mr. Rahul Roy Chowdhury, CEO of Private Wealth; and Mr. Liju Johnson, Company Secretary. I will begin with a brief overview of the operating environment and our business performance, after which I will take you through the financial performance for the quarter and for the first half of FY27. First is on the operating environment and the strategic direction. Of course, the second quarter was marked by volatility and corrections in the index, Indian capital market, particularly during the month of September. In this environment, our focus remained on maintaining customer engagement, supporting disciplined investing, and continuing to build a diversified, relationship-led wealth platform. As on September end, we had a network of 529 offices compared to 525 in quarter one. Our client base increased to INR 17.25 lakhs, and we added 61,657 clients in the half year. Our recurring revenue business continued to build scale. Recurring revenue AUM reached INR 26,737 crores in H1, which is split across mutual fund, overseas AUM, Smartfolio, PMS, and AIF. This is compared to INR 23,230 in the end of FY26. Our lending book stood at INR 780 crores as of end of quarter two compared to INR 735 crores year back. It consists of margin trading facility and loan against shares and mutual funds. These businesses complement our core broking franchise and broaden the range of solutions available to our clients. Recurring income in H1 is 40% of the total income, which has grown consistently over the last few years. Just for comparison, recurring income was 25% of the total income in FY23; now it is 40%. Coming to the quarter two and half year performance. Revenue from operation in quarter two was INR 165.82 crores, which is up 2.5% Y-o-Y and up 3.38% sequentially. EBITDA was 36.7, while profit before tax stood at 20.62. For H1, revenue from operation increased by 6.72%, and EBITDA stood at INR78.23 crores. The half-year performance reflects top-line resilience Page 2 of 14 Geojit Financial Services Limited October 26, 2026 alongside higher operating cost and lower transaction-linked activity in the cash market. The quarter’s performance reflects a combination of factors. Of course, subdued activity in the cash market affected the transaction-linked income, while distribution income and growth in fee- earning AUM provided support. We continue to invest in people, technology, and distribution capabilities to strengthen customer acquisition, SIP mobilization, and service delivery. These investments are intended to build capacity and improve productivity over time. Employee benefit expense increased by INR 8.17 crores Y-o-Y. This increase was mainly attributable to a higher sales personal headcount, recruitment for our DIFC subsidiary, and expansion of the IT team to support the technology transformation program, and of course, higher incentive in line with the growth of distribution business. In terms of customer assets and gross inflows, customer assets stood at INR1.12 lakhs crores as of September end. Sequentially, reported customer assets were broadly stable. Healthy gross inflows continued during the quarter, but market correction, especially in the month of September, offset some of the underlying inflows. We believe it is important to distinguish between the flow of new investments into the platform and market link changes in the valuation of existing assets. Gross inflows remain healthy throughout our investment offerings, supported by healthy customer engagement and our distribution network. While the market movements can affect quarter-end AUM, the underlying inflow momentum and continued participation through SIP remain important indicators of customer engagement. And we continue to strengthen our field force. In the mutual fund distribution business, our SIP book reached INR 156 crores, and the number of SIP clients is approximately INR1.78 lakhs. For the wealth management business, annual ARR net flow, which comprises of net flows in mutual fund, third-party products, and insurance, stood at INR 583 crores in quarter two. For H1, it stood at INR1,189 crores. These measures provide an indication of net additions to recurring revenue link products. They should be considered alongside gross inflows, redemptions, and market-related valuation changes. Mutual fund AUM stood at INR18,449 crores, excluding the JV. We are continuing to strengthen our field force capabilities and customer outreach to support our SIP acquisition and deeper product engagement. 79% of our mutual fund income come from clients who have been with us for 5 years and plus. In terms of our asset management business, it continues to grow. PMS, AIF AUM stood at INR 2,018 crores as of September end, compared to INR 1,449 crores end of March, which is a growth of 39% over March. Asset management net inflows increased to INR 322 crores in quarter two compared to INR 71 crores in the same period last year. For the half year, asset management inflows stood at INR 408 crores. We view this improvement in net flows alongside the grow [Showing first 8,000 characters — download PDF for full document]