Analysts/Institutional Investor Meet/Con. Call Updates

November 04, 2026 To To BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G Dalal Street, Fort, Mumbai – 400 001 Bandra Kurla Complex Scrip Code - 544754 Bandra (East), Mumbai – 400 051 Symbol - KISSHT Sub.: Transcript of the Earnings Conference Call held on Thursday, October 29, 2026, with respect to Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended September 30, 2026. Dear Sir / Madam, Pursuant to Regulation 30 read with clause 15 of Para A of Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended from time to time, please find enclosed herewith the transcript of the Earnings Conference Call held on Thursday, October 29, 2026, with respect to Unaudited Financial Results (Standalone and Consolidated) for the quarter and half ended September 30, 2026. The transcript has also been uploaded on the website of the Company and can be accessed at: Kissht Q2FY27 Transcript Kindly take the same on record. Thanking You, For OnEMI Technology Solutions Limited (formerly known as OnEMI Technology Solutions Private Limited) Shraddha Rajkumar Patangia Company Secretary and Compliance Officer Membership No.: A55210 Encl: As above OnEMI Technology Solutions Limited (Kissht) Q2 FY27 Earnings Conference Call October 29, 2026 MANAGEMENT: MR. RANVIR SINGH – CHAIRMAN, DIRECTOR & CHIEF EXECUTIVE OFFICER MR. KRISHNAN VISHWANATHAN – DIRECTOR & CHIEF FINANCIAL OFFICER AND SENIOR MANAGEMENT TEAM Page 1 of 18 OnEMI Technology Solutions Limited October 29, 2026 Moderator: Good afternoon, everyone. Welcome to the Q2 FY27 Earnings call of OnEMI Technology Solutions Limited. We have with us today Mr. Ranvir Singh, Chairman, Director, and Chief Executive Officer, Mr. Krishnan Vishwanathan, Director and Chief Financial Officer, and the Senior Management Team. I shall now hand over the call to the management for their opening remarks. Over to you, gentlemen. Ranvir Singh: Thank you, Mehak. Good afternoon, everyone, and welcome to Kissht’s Q2 FY27 Earnings call. Let me start with a simple thought. Lending is one of the oldest businesses in the world, but the way we practice it, is decidedly new. We have compressed what traditionally took days into a matter of minutes. Today, a customer can go from the first tap on a phone to money in their bank account in just a few minutes. Behind that simplicity sits years of investment, across data science, AI, machine learning, underwriting intelligence, and technology-led collections. What looks effortless to the customer is enormous complexity behind the scenes. And that, in many ways, is the essence of what we have built at Kissht. In lending, one good quarter proves very little. Growth is remarkably easy to achieve: just lower your standards, and the applause comes immediately, but the reckoning comes later. So the only honest measure of a lender is consistency, which means growing without loosening credit standards, and earning without shortcuts… quarter after quarter. This quarter for us, registered users reached 79.5 million, up 32.6% year-on-year. We have now served 12.8 million customers, up 22.5%. AUM reached Rs. 9,317 crore, up 68.4% year-on-year, and 16.4% quarter on quarter. Profit after tax was Rs. 125 crore, double of what we earned a year ago, and 31.6% above last quarter. Return on average AUM was 5.78%. We believe growth without profitability is, expensive ambition, while profitability without growth is comfortable stagnation. The real achievement is to deliver both - not at the expense of tomorrow, but on the strength of what we built today. On the macro picture, India's economy remains remarkably resilient, despite an unsettled world. GDP grew 7.8% in the first quarter, and the RBI has raised its FY27 growth forecast to 7.1%. Despite a below-average monsoon and some softness in urban discretionary spends, consumption is turning up. FMCG value growth hit a six-quarter high of 8.6% in Q2. The festive season and industry tell the same story. E-commerce festive season sales are up 20-22%. Electricity consumption rose 11.4% in September, a strong signal of industrial activity. Further, GST collection is up 14% year-on-year. At the same time, the RBI has raised the repo rate by 25 basis points to 5.50%, in what is clearly a calibrated tightening. The message is clear : Growth remains robust, but money is getting dearer. Even as borrowing costs rise across the system, our cost of borrowing has fallen by approximately 70 basis points, from 14.45% to 13.76%. The total finance cost, as a share of average AUM, has also fallen by 100 basis points quarter on quarter. Policy tightening may slow this improvement, but we do not expect it to reverse the trend, and we will continue to see reduction in our cost of fund for future. On regulation, the proposed IRDAI changes on insurance commissions and loan-link insurance have drawn a lot of attention. Insurance is less than 1.4% of our total income, our offerings have always been voluntary, and we expect no material impact on earnings. Page 2 of 18 OnEMI Technology Solutions Limited October 29, 2026 We also welcome the RBI's move to make account aggregators interoperable by December 2026. In lending, better information is not merely an advantage, it is the foundation of better judgment. Consent-based access to verified financial data will make our underwriting both faster and more precise. The macro environment offers reasons for confidence, but none for complacency. Our priorities remain unchanged, which is basically disciplined underwriting, prudent funding, and sustainable growth. Let me turn to what we are seeing in the retail credit market. Across the industry, retail loan sanctions are up by nearly 20% year-on-year. Lenders are favoring larger loans and better quality borrowers, and the share of below-prime and new-to-credit customers is falling. Yet, as per Bureau, the industry Retail credit balances have grown 19%, while the number of borrowers has grown less than 9%. The implication is clear, indebtedness is rising far faster than the borrower base. That warrants close attention. At Kissht, we have been moving deliberately in the opposite direction, which is going after less leveraged customers. The share of new loans to customers with 3 or more live loans has fallen more than 35% over the past 12 months, and more than 7% quarter on quarter. While the industry's borrowers are getting more leveraged, we are steadily lending less to leveraged borrowers. Our shift towards higher quality borrowers continues. Loans to customers with bureau scores above 760 has risen from 20.8% to 24.8%. And only about 4% of our loans go to customer scoring Below 700. Gold loans are another example. We flagged rising gold loan exposure as a risk in September 2025, and 13 months back began restricting lending to consumers carrying gold loan. Which has now come down to as low as sub 8% of the total book, with tighter curbs in the North than in the South. We've acted well before the industry began worrying about stress in gold loans. Our machine- learning models continuously flag early signs of stress, and the segments where exposure needs to be cut. The objective is simple… act before the stress reaches the balance sheet. And let me tell you, this is business as usual for us, not an occasional intervention. This is something that we do daily, day in, day out. Our underwriting discipline doesn't depend on a kind credit cycle. We tighten early, grow selectively, and lend only where the numbers earn it. Talking about key numbers, AUM grew to Rs. 9,317 crore, up 68% year-on-year, 16% quarter- on-quarter. Disbursements were Rs. 4,612 crore, up 56% year-on-year. AUM is growing faster than the disbursement, and that is by design. Our better customers take longer-tenure loans, so each rupee we lend stays on the book longer, an [Showing first 8,000 characters — download PDF for full document]