Conversions (CPCU)
120.3M
+?% YoY
Quarterly conversions at a CPC rate of INR 60, driving CPCU revenue of INR 7.21B.
AFFLE3I
Other
2026-04-??
Affle 3i Ltd — Q4 FY26
Affle 3i delivered a steady Q4 FY26 with revenue of INR 7.24B (+20.3% YoY) and EBITDA of INR 1.61B (+20.3% YoY), marking the 13th consecutive quarter of sequential topline growth.
✓ Verified against BSE filing
2-Minute Summary
✦ AI-Generated from Full Transcript
Affle 3i delivered a steady Q4 FY26 with revenue of INR 7.24B (+20.3% YoY) and EBITDA of INR 1.61B (+20.3% YoY), marking the 13th consecutive quarter of sequential topline growth. PAT grew 16% YoY to INR 1.22B, impacted by a higher tax base. The CPCU model drove 120.3M conversions at a CPC rate of INR 60. Growth was broad-based across India (+19.5%), emerging markets (+22.3%), and developed markets (+18%). Management reaffirmed medium-term guidance of 20%+ organic CAGR and announced a preferential warrant issue to raise ~INR 11B for M&A, targeting a meaningful acquisition within calendar 2026. Key risk: gross margin compression from continued investment in premium inventory and verticalization may pressure near-term profitability.
Key Numbers
CPC Rate
INR 60
flat YoY
Cost per conversion remained stable at INR 60, indicating pricing discipline.
India Revenue Growth
19.5% YoY
+19.5pp YoY
India revenue grew 19.5% YoY, contributing to the overall broad-based growth.
Developed Markets Revenue Growth
18% YoY
+18pp YoY
Developed markets grew 18% YoY despite geopolitical headwinds, contributing 28.4% of revenue.
Management Guidance
Medium-term organic growth of 20%+ CAGR
Management reiterated its medium-term guidance of 20%+ organic CAGR, underpinned by AI investments and verticalization.
Management guidance growthEBITDA margin target of 23-25% over time
Management guided towards EBITDA margins of 23-25% over a period of time, up from current ~22.3%.
Management guidance marginsMeaningful M&A transaction within calendar 2026
Management expects to conclude a meaningfully sized acquisition within calendar 2026, funded by the INR 11B warrant issue.
Management guidance expansionKey Risks
Gross margin compression from investment in premium inventory
Gross margins have declined from ~39% to ~36% over recent quarters due to investments in premium inventory and verticalization, which may continue to pressure near-term margins.
medium · analyst_questionGeopolitical and macroeconomic headwinds
Management acknowledged temporary softness in select markets due to geopolitical events, which could impact growth if conditions worsen.
medium · management_commentaryExecution risk in M&A integration
Management is pursuing multiple acquisition targets; integration and transformation to CPCU model may take time and could dilute near-term financials.
medium · data_observationNotable Quotes
We are firmly on course to deliver on our medium-term guidance of 20% CAGR as we progress towards our 10x decadel growth vision.
Our growth has been consistently broad-based across key industry verticals and geographies.
We are future ready and we remain agile and steadfast in our commitment to delivering sustainable profitable growth.
Frequently Asked Questions
What was Affle 3i's revenue in Q4 FY26?
Affle 3i reported revenue of ₹724 Cr in Q4 FY26, representing a +20.3% change compared to the same quarter last year.
What guidance did Affle 3i management give for FY27?
Medium-term organic growth of 20%+ CAGR: Management reiterated its medium-term guidance of 20%+ organic CAGR, underpinned by AI investments and verticalization. EBITDA margin target of 23-25% over time: Management guided towards EBITDA margins of 23-25% over a period of time, up from current ~22.3%. Meaningful M&A transaction within calendar 2026: Management expects to conclude a meaningfully sized acquisition within calendar 2026, funded by the INR 11B warrant issue.
What are the key risks for Affle 3i in FY27?
Key risks include Gross margin compression from investment in premium inventory — Gross margins have declined from ~39% to ~36% over recent quarters due to investments in premium inventory and verticalization, which may continue to pressure near-term margins.; Geopolitical and macroeconomic headwinds — Management acknowledged temporary softness in select markets due to geopolitical events, which could impact growth if conditions worsen.; Execution risk in M&A integration — Management is pursuing multiple acquisition targets; integration and transformation to CPCU model may take time and could dilute near-term financials..
Did Affle 3i meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Affle 3i Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary with filing verification status shown on the financial stats.