AFFLE / Q3-FY26 / claim-ledger

Audit the questions that mattered.

Affle 3i · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ3-FY26 · 2026-02-10Back to quarter ↗

Questions audited

Answered directly

55%

Numeric claims

Consistency

mixed

Question ledger

What was answered, and how?

Shobit Singal · Anandrati

partial

How will gross margin move in medium term given sharp jump?

we are absolutely clear that our data and inventory cost has two elements... we are in that phase of expansion where we are investing into the data and inventory cost to build our intelligence verticalized intelligence for international markets

Shobit Singal · Anandrati

partial

Progress on inorganic acquisition of 10-12 companies?

we have shortlisted amongst them. We've narrowed that pool down to now four companies and we're doing active due diligence assessments... we will make a firm and a sensible decision progressively at the right time at the right price.

Deep Shah · BNK Securities

evasive

Why incremental data cost exceeds incremental revenue?

we have been mentioning that our target of OCF to PAT ratio is greater than 80%... we believe that we'll be achieving in the range of 85 to 95% OCF for this year also

Deep Shah · BNK Securities

direct

What drove 3.1% YoY CPCU rate increase despite EM mix?

we have been able to inconsistently increase our charging rate the CPCU rate... two key strategies: verticalization and giving them premium users... allowing us to charge a higher price

Anmol Girk · Dam Capital

partial

What is driving India growth despite RMG impact? Maintain 20% guidance?

India is our anchor market... growth in India is very resilient... internal KPI to the team is that both revenue and EBITDA have to grow on an average of about over 20 to 25%.

Anmol Girk · Dam Capital

evasive

Was there a wage hike this quarter? Employee expense flat?

we have given a handsome VA to the people who deserve... overall even with all of that we are able to keep our operating expenses in check in control.

Rohan Nakpal · Helas Capital Management

partial

What is the split between current revenue cost and investment in gross margin?

around 10% of our data and inventory cost is investing into the future... I will not be able to give any short-term breakups for that.

Anandi · Nepan Capital

direct

Quantify revenue loss from real money gaming ban and which areas made up?

you can assume about 10 to 12 crores of revenue on the base effect for the quarter three of the last year which has not recorded in this quarter.

Abhishek Banerjee · ICICI Securities

direct

Which segments are now largest for you in India?

in category E and F, we are doing exceptionally well... e-commerce, education, entertainment, fintech, food tech, FMCG.

Abhishek Banerjee · ICICI Securities

evasive

When can global markets return to earlier growth rates?

this is the baseline of growth that we can anchor ourselves on... we are looking at both organic and inorganic investments... we will absolutely go for capturing the full growth potential

Siddharth Mishra · Fidelity International

partial

Can organic growth in developed markets materially accelerate?

to get meaningful coverage across all of our 10-12 verticals with all the advertisers in those markets it is going to take time... inorganic transaction can shift the gear of organic growth from third gear to fifth gear.

Siddharth Mishra · Fidelity International

partial

Will inventory cost as % of revenue stay structurally higher?

this is something that we will continue to do for at least a few more quarters till we can unlock the full potential of all the industry verticals...