Transcript of Earnings call Q1 FY 27

Ref No: RML/2026-27/698 Date: July 29, 2026 BSE Limited National Stock Exchange of India Limited Scrip Code: 543228 Symbol: ROUTE Sub: Transcript of the earnings conference call for the quarter ended June 30, 2026. Dear Sir/Madam, We are enclosing herewith copy of the transcript of the Company's Q1 FY27 earnings conference call for Unaudited Financial Results for the quarter ended June 30, 2026 held on Friday, July 24, 2026. Further, please note that no unpublished price sensitive information was shared/discussed by the Company during the said earnings call. The same is also available on the Company’s website at www.routemobile.com. You are requested to take the above information on record. Thanking you, For Route Mobile Limited Tejas Shah Company Secretary & Compliance Officer ICSI Membership No.: A34829 Encl: a/a Route Mobile Limited Q1 FY27 Earnings Conference Call July 24, 2026 MANAGEMENT: MR. TUSHAR AGNIHOTRI – CHIEF EXECUTIVE OFFICER – ROUTE MOBILE LIMITED MR. VINAY BINYALA – CHIEF STRATEGY OFFICER & INVESTOR RELATIONS OFFICER – ROUTE MOBILE LIMITED MR. RAJ GILL – GROUP CHIEF FINANCIAL OFFICER – ROUTE MOBILE LIMITED Page 1 of 20 Route Mobile Limited Q1 FY'27 Earnings Conference Call July 24, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Route Mobile Limited Q1 FY27 Earnings Conference Call. 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 presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Tushar Agnihotri, Chief Executive Officer. Thank you, and over to you, sir. Tushar Agnihotri: Good evening, everyone, and thank you for joining us for Route Mobile's Earnings Call for the first quarter of fiscal year 2027. I'm Tushar, and it's my pleasure to welcome you all. Joining me today are Vinay Binyala, who will take you through the operational and strategic highlights of the quarter; and Raj, who will walk you through the detailed financial performance. Following our prepared remarks, we will open the floor for questions. Before we begin, a quick note that our quarterly earnings presentation was uploaded yesterday, and I hope you've had a chance to review it. Some of the statements we make today may be forward-looking in nature. These are subject to risks and uncertainties, and I request you to refer to the disclaimers in our presentation. Let me set the context for the quarter before handing over. This was a quarter of important progress on the strategic priorities we laid out earlier this year. We returned to year-on-year revenue growth. And just as importantly, the quality and mix of that growth continued to shift in the direction we have committed to, with the new product portfolio growing meaningfully faster than the business as a whole. We are clear eyed about the margin softness this quarter. As Vinay will explain, several of the items that weighed on margins are specific in nature and largely transient, and we are actively working through each of them. Our conviction in the medium-term trajectory of the business is unchanged. At the same time, we took a decisive strategic step with Heltar acquisition, a precise expression of the build versus buy philosophy we articulated at our strategy update in May. And one that accelerates our move up the value chain, from messaging into full stack, AI-native customer engagement. We also saw strong external validation of our execution and of the shared global vision with Proximus Global. Taken together, this was a quarter of steady operational delivery, disciplined Page 2 of 20 strategic action and continued strengthening of our positioning for the years ahead. We remain focused on execution and on delivering long-term value for our stakeholders. With that, let me hand over to Vinay to take you through the quarter in more detail. Over to you, Vinay. Vinay Binyala: Thank you, Tushar. Good evening, everyone, and I hope you are all doing well. As Tushar mentioned, we uploaded our quarterly earnings presentation last evening, and I hope you had a chance to go through it. I will structure my comments in 4 parts. First, the shape of our revenue growth this quarter; second, a discussion around the margin performance and specific items that affected it; third, the key business and product developments for the quarter; and finally, a few minutes on the Heltar acquisition, which we believe is an important strategic milestone for the company. First, on revenue. In Q1 FY27, revenue from operations grew approximately 10% year-on-year and 2% quarter-on-quarter. I would highlight the quality of this growth. The drivers are the ones we have been highlighting for the past several quarters, continued strength in growth in our new products portfolio and customer additions to our AI/ML-driven firewall solutions business portfolio. I want to draw your attention to the new products portfolio, RCS, WhatsApp and other IP-based messaging solutions. New product revenue grew 14% year-on-year and 11% quarter-on-quarter, growing meaningfully faster than the company as a whole. This is the engine of the business mix transformation we have been committed to, and the sequential acceleration demonstrates that we are aggressively driving momentum around the non-SMS solution portfolio. The ILD business, which was the principal source of revenue decline through FY26, continues to be a challenge in terms of growth for the near term. Second, let me address gross margins and provide additional context around the reported numbers. Gross profit margin for the quarter was 20.9%, which is lower than the levels we exited FY26 at. There are 2 key drivers for this margin deterioration. The primary driver is certain developments in specific customer accounts. We witnessed temporary disruption in traffic from select existing large high-margin customers as we are deploying new solution capabilities to address evolving business requirements of these customers. This is not revenue or gross margin that we have lost, but just a temporary disruption, which will be restored in the coming quarter as we continue to offer the new solution capabilities to these customers. These are account-specific situations rather than broad-based deterioration in pricing or margin, and we are actively working through each of them. The second smaller factor impacting gross profit margins in the past quarter is the security incident at our Colombian subsidiary. Page 3 of 20 The gross margin performance translated into an EBITDA into an adjusted EBITDA margin of 9.5% for the quarter. We recognize this is below the trajectory we have guided to. I want to be specific here. We view several of the items that impacted this quarter as largely transient. Third, let me spend a moment on the key business developments of the quarter because they reinforce the strategic direction I have just described. We are seeing strong external validation of our execution capabilities and of the global vision we share with Proximus Global. And practically, it strengthens our right to win in large enterprise engagements worldwide. Konera, Proximus Global's network API and enterprise connectivity platform won the Best Application Service Provider Award at the Carrier Community Global Awards in 2026. This is a recognition of the continued innovation coming out of the Proximus Global ecosystem in network APIs, a category we believe will be an important growth factor for the industry over the coming years. On the product and platform side, we continue to strengthen our global RCS footprint, expanding direct operator integrations and advancing towards broader direct coverage access across markets. New partnerships and platform enhancements further reinforce our ability to drive scalable, rich business messaging [Showing first 8,000 characters — download PDF for full document]