Analysts/Institutional Investor Meet/Con. Call Updates

November 06, 2026 The Listing Department The Listing Department National Stock Exchange of India Limited BSE Limited Exchange Plaza, Bandra-Kurla Phiroze Jeejeebhoy Towers, Complex, Bandra (E) 25th Floor, Dalal Street Mumbai-400051 Mumbai-400001 SYMBOL: NUCLEUS SCRIP CODE: 531209 Dear Sir/Ma’am, SUB: TRANSCRIPT OF THE INVESTOR EARNING CALL OF THE COMPANY In pursuant to above mentioned subject, we are hereby enclosing the Transcript of the Earning conference Call of the Company for the Quarter and Half Year ended September 30, 2026 held on November 02, 2026. This is for your information and records. Thanking You Yours Sincerely For Nucleus Software Exports Limited (Poonam Bhasin) Company Secretary Encl: as above Registered Office 33-35 Thyagraj Nagar Mkt, New Delhi - 110003 Tel.: +9.11.2462.7552 F.: +91.11.2462.0872 Nucleus Software Q2 FY 27 Investor Conference Call Event Date / Time: 02/11/2026, 15:00 Hrs Registered Office 33-35 Thyagraj Nagar Mkt, New Delhi - 110003 Tel.: +9.11.2462.7552 F.: +91.11.2462.0872 Moderator Good afternoon, everyone. This is Mohana. A very warm welcome to all of you for this Nucleus Software Earnings Conference Call for the quarter and half year ended on September 30, 2026. For discussions, we have here from the management team, Mr. Vishnu R. Dusad, Managing Director; Mr. Parag Bhise, CEO and Executive Director; Mr. Ashok Kumar Bhura; Chief Financial Officer; Mr. Anurag Mantri, Chief Operating Officer; Mr. Apurva Chamaria, Chief Business Officer; Mr. Mukesh Bangia, Vice President; Mr. Abhishek Pallav, Vice President; Ms. Swati Patwardhan, Chief Human Resources Officer; Mr. Bhavit Godiwala, Chief Customer Success Officer; Mr. Pradeep Malik, Vice President and Mr. Tapan Jayaswal, Financial Controller. As you all are aware, Nucleus Software does not provide any specific revenue earnings guidance. Anything which is said during this call, which may reflect company's outlook for the future or which may be construed as a forward-looking statement, must be reviewed in conjunction with the risks that the company faces. An audio and the transcript of this call would be shortly available on the Investors section of company's website, www.nucleussoftware.com with this, we are now ready to begin with the opening comments on the performance of the company, and post that, we would be available for the questions and answer session. With this, I now pass it over to Mr. Vishnu. Thank you, and over to you, sir. Vishnu R. Dusad Thank you and a warm welcome to all of you for this conference call. It is my pleasure to welcome you to this second quarter earnings call and with this, I will hand it over to Parag. Parag Bhise Thank you so much, Vishnu sir and good afternoon, everyone, and thank you for joining us for this earnings call. Alongside our financial performance, I would like to briefly share a few important strategic developments from the quarter. We continue to make progress on our AI journey. This quarter, we continued to invest in upscaling our workforce with the objective of moving AI from a specialized capability used by a few to a core capability embedded across functions, which we expect will give us benefits in the quarters to come. A key milestone during the quarter was the launch of FinnOne Neo 9.0 and FinnAxia 9.0 in Vietnam. Together with our strategic partner FPT at the first Nucleus Synapse, which is our customer event in Vietnam. Our capabilities continue to receive recognition across the industry and analyst ecosystem. Gartner, an analyst firm, a world-renowned, included Nucleus Software among the example vendors in its 2026 Registered Office 33-35 Thyagraj Nagar Mkt, New Delhi - 110003 Tel.: +9.11.2462.7552 F.: +91.11.2462.0872 market overview for commercial banking cash management and Nucleus has also featured in Forrester's Cash Management Solution Landscape. Since the close of the quarter, our generative AI-powered Visual Report agent received the Most Innovative Practice Award at the CII National AI Awards 2026. We were also recognized as Oracle's 2026 APAC ISV Partner of the year. During the quarter, we continued to strengthen our engagement with the banking and fintech ecosystem through platforms including Global Fintech Fest, FIBAC, the CII, NBFC and HFC Summit, the CNBC TV18 Banking Transformation Summit and CBOS 2026 in Miami. On the leadership front, we welcome Mr. Sudhanshu Tripathi as Chief Marketing Officer, strengthening our focus on global market positioning and growth across key geographies. We remain focused on disciplined execution and creating sustainable long-term value for our customers, employees and shareholder. With that, I will now hand over for the financial update to Mr. Tapan Jayaswal. Thank you. Swati Ahuja I request you to please highlight the financials. Tapan Jayaswal Thank you, Swati. Am I audible? Swati Ahuja Yes. Tapan Jayaswal As for our revenue, consolidated revenue quarter is at Rs. 227.7 crore, growth of 8.2% QoQ and 6.7% YoY. Dollar terms revenue is USD 24 million or 6.9% QoQ, degrowth of 1.9% YoY. As for half year ended period, our consolidated revenue is at Rs. 438.1 crore, growth of 1.6% YoY. In dollar terms, revenue is USD 46.5 million, degrowth of 6.9% YoY. Product revenue during the quarter is at 84.4% as against 83.9% QoQ. As for half year ended period product revenue is at 84.2% as against 84.9% YoY. As for geography revenue, India region constitutes 57.3% of revenue, followed by 12.4% from Middle East, 11% from Southeast Asia, 5.7% from Europe, and rest others. During previous quarter, India constituted 56.1% of revenue, followed by 12.1% from Middle East, 10.8% from South Asia, 5.5% from Europe and rest others. As for half year ended period, India region constitutes 56.7% of revenue, followed by 12.3% from Middle East, 10.9% from Southeast Asia, 5.6% from Europe, and rest others. During the previous half year ended period, India region constitutes 57.8% of revenue, followed by 11.9% from Southeast Asia, 11.5% from Middle East, 4.8% from Europe, and rest others. Registered Office 33-35 Thyagraj Nagar Mkt, New Delhi - 110003 Tel.: +9.11.2462.7552 F.: +91.11.2462.0872 Revenue from top five clients contributed 27% of revenue in this quarter as against 28.1% during previous quarter. As for half year ended period, revenue from top five clients contributed 27.3% of revenue in/as against 26.8% during previous half year. As for expenses, cost of delivery including cost of product development for the quarter is RS 167.9 crore, an increase of 4.7% QoQ and 6.5% YoY. It constitutes 73.8% of revenue against 76.2% QoQ and 73.9% YoY. As for marketing and sales expenses for the quarter is 11% of revenue against 10% QoQ and 7.3% YoY. For half year ended period, cost of delivery including cost of product development is Rs. 328.4 crore, an increase of 5.8% against last half year. EBITDA for the quarter is at Rs. 15.4 crore as against Rs. 7.6 crore QoQ and Rs. 23.1 crore YoY. Margins during the quarter is 6.8% as compared to 3.6% QoQ and 10.8% YoY. As for half year ended period, EBITDA stands at Rs 23 crores as against Rs 56.8 crores YoY. Margins during the half year is 5.3% as compared to 13.2% in last half year. As for other income during the quarter is Rs. 16 crores, degrowth of 10% QoQ, de-growth of 0.8% YoY. Income from investment and deposit is Rs. 11.8 crore, other miscellaneous income is Rs 3.6 crore, and forex gain is Rs. 0.8 crore. For half year ended period, other income is Rs. 33.8 crore, degrowth of 0.8% from last half year. Income from investment and deposit is Rs. 30.6 crore, other miscellaneous income Rs. 3.6 crore, and forex loss is Rs. 0.4 crore. This degrowth in investment income was driven by lower mark to market gains on net mutual funds due to increase in interest rate in Q2. Forward covers as on 30th September 2026 are USD 2.5 million, at an average rate of Rs. 96.87 to a USD. Profit during the quarter is Rs. 21.3 crore, degrowth of 11% QoQ and degrowth of 19.2% Y [Showing first 8,000 characters — download PDF for full document]