Transcript for Q1FY27 Earnings Conference Call

July 31, 2026 BSE Limited National Stock Exchange of India Limited Department of Corporate Services The Listing Department Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Fort, Bandra Kurla Complex, Mumbai – 400 001 Mumbai - 400051 Scrip Code: 544533 Symbol: STYL Sub: Transcript of the Q1 FY27 Earnings Conference Call. Dear Sirs, Further to our letters dated July 20, 2026 and July 23, 2026, we enclose herewith a copy of the transcript of the Q1 FY27 Earnings Conference Call held on July 24, 2026. The same is also being made available on the Company’s website: https://seshaasai.com/media-news/investor/ This is for your information and records. Thanking you, Yours Sincerely, For Seshaasai Technologies Limited (formerly known as Seshaasai Business Forms Limited) Manali Siddharth Shah Company Secretary and Compliance Officer Encl: as above Seshaasai Technologies Limited (Formerly known as Seshaasai Business Forms Limited) Registered Office: 9, Lalwani Industrial Estate, 14, Katrak Road Wadala, Mumbai – 400031 Tel,: +91 22 66270919/99 E mail: info@seshaasai.com I Website: www.seshaasai.com I CIN No.: L21017MH1993PLC074023 “Seshaasai Technologies Limited Q1 FY27 Earnings Conference Call” July 24, 2026 MANAGEMENT: MR. PRAGNYAT LALWANI – CHAIRMAN AND MANAGING DIRECTOR – SESHAASAI TECHNOLOGIES LIMITED MR. GAUTAM JAIN – WHOLE-TIME DIRECTOR – SESHAASAI TECHNOLOGIES LIMITED MR. PAVAN KUMAR – CHIEF FINANCIAL OFFICER – SESHAASAI TECHNOLOGIES LIMITED MODERATOR: MR. PRATIK JAGTAP – E&Y LLP, INVESTOR RELATIONS Page 1 of 13 Seshaasai Technologies Limited July 24, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Seshaasai Technologies 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 this 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. Pratik Jagtap from EY Investor Relations. Thank you and over to you sir. Pratik Jagtap: Thank you, Alarik. Welcome everyone and thanks for joining Seshaasai Technologies Limited Q1 FY27 Earnings Call. The results and presentation have already been mailed to you, and you can also view them on our website at www.seshaasai.com. In case anyone does not have the copy of investor presentation or press release, please do write to us and we will be happy to share them with you. To take us through the results today, we have the management of the company represented by Pragnyat Lalwani, Chairman and Managing Director, Gautam Jain, Whole-time Director, and Pavan Kumar, Chief Financial Officer. Pragnyat will start the call with a brief overview of the company and business update, which will be then followed by Pavan, who will take us through the financial performance for the quarter, and then we will open the floor for Q&A session. As usual, I would like to remind you that anything that is mentioned in this call, which reflects any outlook for the future, or which can be construed as a forward-looking statements must be viewed in conjunction with the risks and uncertainties that we face. These risks and uncertainties are included but not limited to what we have mentioned in the prospectus filed with SEBI and subsequent annual reports that you can find on our website. Having said that, I will now hand over the call to Pragnyat ji. Over to you, sir. Pragnyat Lalwani: Thanks Pratik. Good day everyone and thank you for joining us today for the Q1 FY27 earnings call. I hope all of you have had the opportunity to review our financial results and presentation. So, let me quickly discuss the business highlights for the first quarter of FY27. Post that, Pavan will take you through the financial update. We are pleased to report a strong start to FY27 with a superb revenue growth of 21.1% on Y-o-Y basis reflecting the strength of our diversified business model and continued execution of our strategic priorities. While the quarter witnessed some pressure on gross margins from the material cost mix due to rising geopolitical issues, however, disciplined execution and operating efficiencies enabled us to deliver growth in EBITDA and maintain healthy margins. We remain focused on driving sustainable growth, improving the quality of earnings, and building a resilient, future-ready business. During the quarter, we witnessed healthy demand across our key business verticals, supported by deeper customer engagement, increasing adoption of our technology-led solutions, and strong momentum in our non-payment businesses. Communication and fulfillment and IoT solutions Page 2 of 13 Seshaasai Technologies Limited July 24, 2026 delivered encouraging performance, further strengthening our revenue mix and reinforcing the benefits of our diversification strategy. We continue to invest in innovation, automation, and technology capabilities that will support long-term growth across our businesses. We would like to update that our Nagpur and Bengaluru facilities are still under construction. We expect the Bengaluru facility to be operational by the end of the calendar year after the necessary regulatory approvals. In this quarter, we won two multi-year tenders from leading PSU banks, which represent approximately INR 73 crores in revenue over the tender period. In terms of business segment update – Our payment solutions contributed 42% to total revenue in Q1 FY27 and saw a nominal growth of 5% on Y-o-Y basis. We continue to see healthy demand and deeper customer engagement. Our strong relationships and proven execution capability continue to support business momentum. Our premium metal card business continues to gain strong traction and remains an important growth driver within the payment solutions segment. We are witnessing increasing adoption from banks and Fintech partners as institutions seek to enhance customer engagement and differentiate their premium offerings. This category not only offers us superior margins but also strengthens our position in the high-value card issuance market. We continue to expand our manufacturing capabilities to meet the growing demand for our metal cards, with the capacity expansion underway at our Bengaluru facility. We are well-positioned to support both domestic and international opportunities in this space. We are also seeing encouraging traction from global markets, particularly in Europe and Africa, which provides an additional avenue for growth going forward. Communication and fulfillment solutions contributed 40% to total revenue in Q1 FY27 and witnessed a growth of 13% on Y-o-Y basis. Our communication and fulfillment solutions business also delivered steady performance backed by recurring requirements from BFSI, enterprise, and government customers. As Indian enterprises continue to invest in digitalization, automation, cloud-led communication infrastructure, and secure customer engagement platforms, we see strong relevance for our solutions. This segment continues to provide stability to our overall business and supports our objective of building a more balanced revenue mix. IoT solutions contributed 18% to total revenue in Q1 FY27 and witnessed a growth of 145% on Y-o-Y basis. Our IoT solutions business remained a key growth driver during this quarter. Within our IoT business, RFID continues to emerge as a significant long-term opportunity. Enterprises across retail, logistics, pharmaceuticals, food supply chains, and manufacturing are increasingly adopting RFID-led traceability and automation solutions to improve visibility, compliance, and operational efficiency. We believe the market is still in the early stages of adoption and offers substantial headroom for growth. Our strategy remains focused on moving beyond standalone RFID tags towards providing integrated end-to-end traceabili [Showing first 8,000 characters — download PDF for full document]