Earnings Overview
• Date of Call: July 26, 2024
• Q1 FY25 Results:
• Total Revenue: Rs. 605 crore
• License Revenue: Rs. 125 crore
• EBITDA: Rs. 121 crore (20% of revenue)
• Cash Position: Rs. 813 crore
• New Deals: 11 secured
• Digital Transformation Projects: 12 launched
Management Insights
• Arun Jain (Chairman):
• Emphasized consistent revenue growth target of Rs. 700 crore per quarter.
• Highlighted importance of recent deals in North America and Canada.
• Vasudha Subramaniam (CFO):
• Confirmed revenue growth guidance of 15% despite a recent dip.
• Rajesh Saxena:
• Discussed significant deal with Vancity for a Digital Engagement Platform.
• Noted strategic expansion into the U.S. market.
Product Developments
• IntellectAI:
• Comprehensive AI product development tailored for various personas.
• Interest from major consulting firms and multiple subscription-based deals secured.
• eMACH.ai Platform:
• Designed to simplify banking operations with extensive microservices and APIs.
• Increased leads from partnerships indicating growing interest.
Market Strategy and Challenges
• U.S. Market Entry:
• Acknowledged challenges due to regulations but identified significant opportunities.
• Investments in building a team and platform for the U.S. market.
• Revenue Growth Metrics:
• Shift in focus towards license and SaaS revenue.
• Expected growth rate of 24% for FY25.
Future Expectations
• Long-term Growth:
• Targeting a 20% growth rate over the long term.
• Anticipated contribution of partnerships to future deals.
• BaaS Initiative:
• Successful deal with a top 20 U.S. bank confirmed.
• Strategic launch in the U.S. due to its tech-savvy market.
Q&A Highlights
• Discussions on GenAI projects and the expected percentage of deals through partnerships.
• Insights on achieving higher margins, with expectations of reaching 30% within 6-8 quarters.
Conclusion
• The call concluded with thanks to participants and management, emphasizing ongoing growth strategies and market opportunities.

Earnings Overview
• Date of Call: May 9, 2024
• Q4 Revenue: Rs. 612 Crores
• Full Year Revenue: Rs. 2,513 Crores
• EBITDA: Rs. 549 Crores for the year
• Profit After Tax (PAT): Rs. 334 Crores (excluding one-off MAT credit write-off)
• Cash Collection: Over Rs. 2,300 Crores
• New Deals Secured: 52
Growth Metrics
• 3-Year Revenue CAGR: 19%
• Year-over-Year Growth: 12%
• Target Growth Rate: Aimed for 20%, achieved 14% due to delayed deals
Regional Performance
• North America: 8 new deals, 6 in AI
• Europe: Major core banking deal secured
• Expansion: Continued growth in Middle East, Africa, and APAC
Strategic Initiatives
• eMACH.ai: Focus on AI-driven solutions in banking
• Security and Risk Management: Emphasis on rigorous scrutiny of deals
• AI-based Procurement Solutions: Expansion with several signed deals
• Sustainability: Achieved zero-discharge campus and employee engagement in initiatives
Future Outlook
• Revenue Guidance: Targeting 20% growth, potential adjustment to 15% due to external factors
• Investment in AI: Continued focus on Purple Fabric platform
• Market Trends: Positive investments by banks and demand for modern solutions
Competitive Landscape
• BaaS Market: Local vendors offer single solutions; the company provides comprehensive platforms
• Comparison with Competitors: Emphasis on built-in security features versus competitors like Thought Machine
Questions and Clarifications
• Revenue Projections: Expected platform revenue of $50 million to $75 million in three years, targeting $100 million
• GeM Revenue Inclusion: Confirmed that reported figures include revenue from GeM
• Market Receptiveness: European markets more open to architectural changes compared to U.S. banks
Conclusion
• The call concluded with an invitation for further questions, reflecting a cautious yet optimistic outlook on growth and strategic investments.

Financial Highlights
• Revenue Growth: 17% year-over-year to INR 621 Crores.
• EBITDA Increase: 45% growth reported.
• Consistent Revenue: Above INR 600 Crores for three consecutive quarters.
• Half-Yearly Growth: 18% increase in revenue.
Strategic Focus
• Customer Needs: Emphasis on product differentiation and customer-centric strategies.
• CAGR: 20% over the past three years.
• Marketing Efforts: Over 700 meetings and participation in 20 events to boost brand awareness.
Business Segment Performance
• iGTB: Reached INR 950 Crores.
• iGCB: Achieved INR 650 Crores.
• IntellectAI: Approaching INR 500 Crores.
Future Growth Projections
• Revenue Target: 15% annual increase.
• Profit Growth: Over 30% anticipated.
• Digital Transformation: Launch of eMACH.ai and partnerships with Microsoft and Accenture.
Partnerships and Technology
• AWS Partnership: Insurance business fully hosted on AWS; leveraging generative AI for underwriting.
• Proof-of-Concept Deals: Seven ongoing, with three nearing closure, each with ARR potential exceeding $2 million.
Market Position and Competition
• Competition: Successfully competing against Thought Machine in Europe.
• Growth Strategy: Focus on partnerships with major firms for significant deals.
Operational Insights
• Deal Announcements: Delays due to permission requirements; consideration of announcing wins without naming banks.
• Investment in AI: Document intelligence management systems (DIMS) to enhance operational efficiency.
Financial Management
• SG&A Costs: Stable at around 26% of revenue; potential decrease as revenue grows.
• R&D Spending: Plans for cash use in inorganic growth and maintaining product focus.
Core Banking Transformations
• Recent Deals: Secured two core banking transformation deals in Australia and a deal with OTP Bank in Hungary.
Conclusion
• Optimism for Growth: Confidence in achieving 20% revenue growth over the next three years, with potential for higher growth rates as products mature.

Announcement Details
• Date of Call: July 28, 2023
• Transcript Availability: Released on August 4, 2023, in compliance with SEBI regulations.
• Participants: Key management members, including Arun Jain.
• Access: Transcript and materials available on the company's website.
Strategic Focus
• BankTech Wave 5: Emphasis on simplifying banking technology.
• Investment in Technology: $600 billion spent by banks on outdated solutions.
• eMACH.ai Technology: Positioned as a transformative solution, comparable to IKEA's modularity.
• Partnerships: Successful collaborations with Resurs Bank and OTP Bank.
Financial Performance
• Cash Generation and EPS: Healthy despite challenges; consistent growth rate of 15-20% over nine quarters.
• Investment Strategy: Ongoing investments with a decreasing percentage relative to existing levels.
• Workforce: Strong, experienced team with employee ownership and global presence.
Q&A Highlights
• Deal Sizes: Vary significantly, with some reaching up to $500 million.
• R&D Budget: Consistent at around $20 million annually.
• Licensing vs. SaaS Revenue: Flexibility offered to clients; both revenue streams are important.
• Focus on India: Increasing adoption of eMACH.ai among Indian banks.
Product Development and Market Strategy
• U.S. Market Strategy: Focus on insurance underwriting rather than core banking.
• Product Maturity: Core banking and lending solutions are well-positioned.
• eMACH.ai Acceptance: Positive growth in lead generation; partnerships crucial for distribution.
AI Integration
• AI Capabilities: Integral to eMACH.ai; both standalone and embedded AI products offered.
• Operational Efficiency: AI enhances customer experiences through hyper-automation and personalization.
Market Insights
• Banking Technology Investments: Shift from superficial digital solutions to structural transformations.
• India's Role: Growing importance in global markets, with challenges in security and investment.
Conclusion
• Optimism for Growth: Positive outlook for U.S. market and IntellectAI's growth potential.
• Closing Remarks: Arun Jain thanked participants and concluded the session.

Overview
• Date of Call: May 12, 2023
• Financial Results: Fourth quarter and full year ending March 31, 2023
• Key Executives: Arun Jain (Chairman), Banesh Prabhu, Rajesh Saxena, Manish Maakan
Company Progress
• Demerger History: Progress since demerger from Polaris Software.
• Technological Advancements: Focus on "BankTech Wave 5" and "eMach.ai."
• Investment Strategy: Proactive investments in cloud and AI since 2017.
Financial Performance
• Growth Metrics: 20% annual margin; CAGR over 20%.
• Revenue Model: Focus on 12-month revenue model.
• Geopolitical Risks: Acknowledged but confident in global presence.
Market Opportunities
• Retail Banking Market: $23 billion market, 8% CAGR; shift to SaaS expected.
• Technological Investments: Investments in retail banking solutions like iKredit 360.
Product Development
• Core Products: IDC, Digital Lending, Quantum, Capital Cube.
• Transition Strategy: Shift from product-centric to platform-centric offerings.
Competitive Landscape
• Key Competitors: Temenos, Thought Machine, Intellect.
• Market Trends: Demand for modern core banking solutions.
AI and Data Solutions
• IntellectAI Growth: Expansion in insurance and wealth management.
• Wealthforce.ai: Enhancing wealth management experiences.
• iESG Platform: Focus on ESG insights and compliance.
Customer Engagement
• Customer Trust: Importance of satisfaction for repeat business.
• Strategic Partnerships: Collaborations with Microsoft and Accenture.
Future Outlook
• Revenue Growth: Target for Banesh business to reach $50-100 million in five years.
• Long-term Margin Expectations: Targeting 40% margin over 5-10 years.
• Geographic Diversification: Strong presence in India with ongoing deals.
Challenges and Strategies
• Licensing and SaaS Revenue: Addressing volatility and growth potential.
• Cash Generation: Reinvestment expected to improve cash flow.
• Order Funnel: Consistent funnel size of 7,000 crores, focusing on quality.
Conclusion
• Optimistic Outlook: Positive trajectory with a commitment to innovation and customer satisfaction.
Conference Call Summary
• Open Finance Platform Development: Progress on eMACH.ai for predictable outcomes.
• Partnership with IBM: Positive updates on collaboration and multiple deals.
• Revenue Sustainability Inquiry: Discussion on revenue sustainability and margin growth.
• Conclusion: Call ended with thanks and invitation for follow-up questions.