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Affle Q1 FY27 Transcript: Revenue Up 20.4% to ₹7.47B, Updates on Major M&A and ₹136 Cr Bobble Exposure
Affle 3i reported Q1 FY2027 revenue of INR 7.47 billion (up 20.4% YoY) with EBITDA of INR 1.68 billion (22.4% margin) and PAT of INR 1.28 billion (up 21.7% YoY). Emerging Markets generated 72.2% of revenue while Developed Markets contributed 27.8%, with both segments expanding over 20% YoY. Management indicated that third-party due diligence is underway for a larger inorganic acquisition targeted for closure by early 2027. Regarding its INR 136 crore carrying value in Bobble AI, the company is contesting Bobble's insolvency proceedings in NCLT and will assess impairment once legal proceedings conclude.
Confidence: HIGH
What changedAffle filed the comprehensive transcript of its Q1 FY2027 earnings conference call held on August 10, 2026.
Why it mattersProvides management granularity on international market expansion, AI product integrations, M&A deal pipeline timelines, and resolution strategy for disputed assets.
Q1 FY27 Revenue: INR 7.47 billionRevenue YoY Growth: 20.4%EBITDA Margin: 22.4%Q1 FY27 PAT: INR 1.28 billionBobble Investment Exposure: INR 136 crore
📅 Short termNeutral impact since primary Q1 financial numbers were already disclosed; market attention will stay on upcoming festive season ad-spends.
📈 Long termSustaining 20%+ organic growth while successfully closing and integrating a large acquisition in developed markets will be critical to supporting Affle's elevated valuation multiple.
⚠ Risk flags
- Potential write-off/impairment risk on the ₹136 crore investment in Bobble AI
- Execution and integration risks tied to upcoming large-scale inorganic M&A
- Regulatory headwinds in key client segments such as Real Money Gaming (RMG)
Key Highlights
Q1 FY2027 revenue grew 20.4% YoY to INR 7.47 billion, marking 14 consecutive quarters of sequential growth.
EBITDA reached INR 1.68 billion with margins at 22.4%, while PAT grew 21.7% YoY to INR 1.28 billion.
Developed Markets contributed 27.8% of total revenue, growing 20.7% YoY.
Targeting closure of a larger inorganic M&A transaction by early 2027, currently in active third-party due diligence.
Management addressing INR 136 crore Bobble AI investment in NCLT; impairment testing deferred pending legal outcome.
👀 What to Watch
Track the execution and valuation details of the expected early-2027 acquisition, alongside any NCLT developments that could necessitate an impairment on the ₹136 crore Bobble AI asset.
21.7% PAT Growth: Affle Reports Robust Q1 FY2027 Performance with ₹747.2 Cr Revenue
Affle 3i Limited reported a strong start to FY2027 with consolidated revenue growing 20.4% YoY to ₹747.2 crore. Net profit (PAT) increased by 21.7% YoY to ₹128.4 crore, demonstrating resilience despite higher taxes during the quarter. The core CPCU (Cost Per Converted User) business remains the dominant driver, contributing ₹745.5 crore in revenue from 12.4 crore converted users. EBITDA margins remained stable at 22.4%, aligning with the company's medium-term guidance of 20% growth.
Confidence: HIGH
What changedAffle has transitioned into Q1 FY2027 maintaining its 20% YoY growth trajectory and successfully integrated strategic AdColony assets into its AI-powered Consumer Platform.
Why it mattersThe results confirm the scalability of Affle's CPCU model across India and international markets, maintaining high margins (22.4% EBITDA) even while scaling, which is critical for its high P/E valuation of 50.8.
Q1 FY2027 Revenue: ₹747.2 crYoY Revenue Growth: 20.4%Q1 FY2027 PAT: ₹128.4 crCPCU Converted Users: 12.4 croreQ1 Revenue vs TTM Revenue: 27.6%EBITDA Margin: 22.4%
📅 Short termThe stock is likely to react positively as the results meet the company's 20% growth guidance and show sequential (QoQ) improvement in PAT by 7.5%.
📈 Long termAffle's 'Vision 10x' and focus on high-value CPCU conversions rather than low-margin volumes support a structural growth story, provided they successfully navigate global privacy regulations and vertical-specific risks.
⚠ Risk flags
- Regulatory changes in Real Money Gaming (RMG) impacting collections
- High P/E ratio (50.8) requires consistent 20%+ growth to sustain valuation
- Dependency on international market expansion for premium unit economics
Key Highlights
Consolidated revenue from operations increased 20.4% YoY to ₹747.2 crore.
Profit After Tax (PAT) grew 21.7% YoY to ₹128.4 crore, up from ₹105.5 crore in Q1 FY2026.
CPCU business delivered 12.4 crore converted users, generating ₹745.5 crore in revenue.
EBITDA stood at ₹167.6 crore, reflecting a 20.0% YoY growth with a 22.4% margin.
Cash balance remains significant at approximately ₹1,418.23 crore (as per FY26 context) to support M&A like the recent AdColony asset acquisition.
👀 What to Watch
Investors should monitor the integration of the newly acquired AdColony assets and the company's ability to sustain 20%+ growth in the CPCU segment, especially given the historical regulatory headwinds in the Real Money Gaming (RMG) vertical.
20.4% Revenue Growth in Q1 FY2027; PAT Rises 21.7% to ₹128.4 Cr
Affle 3i Limited reported a strong start to FY2027 with revenue growing 20.4% YoY to ₹747.2 cr, driven by a significant 36.5% increase in user conversions to 123.9 million. Profit After Tax (PAT) increased 21.7% YoY to ₹128.4 cr, maintaining a healthy PAT margin of 16.6%. The company's core CPCU (Cost Per Converted User) model remains the primary driver, contributing nearly all revenue with improved pricing of ₹60.2 per conversion. With a robust cash balance of ₹2,058.7 cr, the company is well-positioned for its stated 10x decadal growth vision and potential M&A.
Confidence: HIGH
What changedThe company has maintained its 20% YoY growth momentum into the new fiscal year while slightly improving unit economics (CPCU pricing) and maintaining stable margins.
Why it mattersThe results validate Affle's AI-driven platform scalability and its ability to grow volumes (conversions) without sacrificing profitability, crucial for justifying its high P/E valuation of 50.8.
Q1 Revenue: ₹747.2 crQ1 PAT: ₹128.4 crYoY Revenue Growth: 20.4%Cash Balance: ₹2,058.7 crCash to Market Cap: 8.9%Q1 Revenue vs TTM Revenue: 27.5%
📅 Short termThe stock may see positive sentiment as the results meet growth expectations and demonstrate operational efficiency with stable margins.
📈 Long termAffle's focus on high-value CPCU conversions and AI-led productivity positions it well for long-term digital advertising growth, though execution in developed markets remains key.
⚠ Risk flags
- High dependency on inventory and data costs (63% of revenue)
- Regulatory risks in specific verticals like Real Money Gaming
- High valuation (P/E 50.8) leaves little room for growth misses
Key Highlights
Revenue from contracts with customers grew 20.4% YoY to ₹7,472 million in Q1 FY2027.
Total conversions reached 123.9 million, a 36.5% increase over the 90.8 million reported in Q1 FY2026.
Average CPCU rate improved to ₹60.2, up from ₹58.0 in the same quarter last year.
EBITDA increased 20.0% YoY to ₹1,676 million, with margins stable at 22.4%.
Cash and liquid investments stood at ₹20,587 million as of June 30, 2026, representing approximately 8.9% of market cap.
👀 What to Watch
Monitor the company's ability to maintain 20%+ growth rates in developed markets (currently 27.8% of revenue) and the utilization of its ₹2,058 cr cash reserve for strategic acquisitions.
Affle 3i Q1 PAT up 37% YoY; Announces ₹1,100 Cr Fundraise and AdColony Acquisition
Affle 3i reported a strong Q1 FY2026-27 with standalone revenue growing 20.4% YoY to ₹239.61 cr and PAT rising 37.5% YoY to ₹40.84 cr. The company announced a significant fundraise of approximately ₹1,100 cr through 7.4 million convertible warrants issued to the promoter group at ₹1,487 per share. Additionally, it is acquiring the AdColony business for $4.70 million (~₹44.41 cr) to bolster its international presence. A key watchpoint is the insolvency proceedings against its investee company Bobble, where Affle holds a 24.07% stake valued at ₹135.83 cr.
Confidence: HIGH
What changedAffle 3i delivered strong double-digit growth in Q1, initiated a major promoter-led fundraise, and announced a new international acquisition.
Why it mattersThe fundraise (representing ~4.7% of market cap) significantly increases the company's cash reserves for inorganic growth, while the AdColony deal expands its footprint in developed markets.
Q1 Standalone Revenue: ₹239.61 crQ1 Standalone PAT: ₹40.84 crWarrant Fundraise Value: ₹1,100.38 crWarrant Issue Price: ₹1,487AdColony Acquisition Value: $4.70 millionBobble Investment Carrying Value: ₹135.83 cr
📅 Short termThe stock is likely to react positively to the strong earnings growth and the commitment shown by promoters through the large warrant subscription.
📈 Long termThe massive capital infusion positions Affle for aggressive global expansion and M&A, supporting its 20% YoY growth target over the coming years.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Insolvency proceedings of investee company Bobble
- Execution risk in integrating the AdColony acquisition
- Equity dilution upon warrant conversion
Key Highlights
Standalone Revenue for Q1 FY27 increased 20.4% YoY to ₹239.61 cr from ₹198.96 cr.
Standalone Net Profit grew 37.5% YoY to ₹40.84 cr compared to ₹29.70 cr in the previous year.
Board approved a ₹1,100 cr fundraise via 7,400,000 convertible warrants at ₹1,487 per warrant.
Acquisition of AdColony business from Digital Turbine for $4.70 million (~₹44.41 cr) announced.
Investment of ₹135.83 cr in Talent Unlimited (Bobble) faces insolvency; Affle has appealed to NCLAT.
👀 What to Watch
Monitor the completion of the AdColony acquisition and the outcome of the NCLAT appeal regarding the Bobble investment. Watch for the utilization of the ₹1,100 cr warrant proceeds for potential large-scale M&A activities.
Affle 3i Q1 Net Profit Up 37.5% YoY; Announces $4.7M AdColony Acquisition
Affle 3i reported a strong start to FY2026-27 with standalone revenue growing 20.4% YoY to ₹239.61 cr. Net profit for the quarter rose 37.5% YoY to ₹40.84 cr, driven by operational efficiencies. The company announced a strategic asset purchase of AdColony for $4.70 million (~₹44.4 cr) and received in-principle approval to raise approximately ₹1,100 cr through convertible warrants to its promoter entity. However, a ₹135.83 cr investment in Bobble faces uncertainty due to insolvency proceedings, which the company is contesting in the NCLAT.
Confidence: HIGH
What changedAffle reported its Q1 FY27 results, announced a new international acquisition (AdColony), and initiated a major fundraise through promoter warrants.
Why it mattersThe results confirm the company's 20% growth trajectory. The ₹1,100 cr fundraise (approx. 4.7% of market cap) indicates a massive war chest for inorganic expansion in developed markets.
Q1 Standalone Revenue: ₹239.61 crQ1 Standalone Net Profit: ₹40.84 crAdColony Acquisition Value: $4.70 millionProposed Warrant Fundraise: ₹1,100.38 crWarrant Issue Price: ₹1,487Bobble Investment Exposure: ₹135.83 cr
📅 Short termThe stock is likely to react positively to the strong profit growth and the strategic acquisition news, though the Bobble insolvency remains a minor overhang.
📈 Long termThe company is successfully scaling its CPCU model and using its strong balance sheet for global acquisitions, positioning it well for structural growth in digital advertising.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Insolvency proceedings of investee company Bobble (₹135.8 cr exposure)
- Execution risk of integrating AdColony assets
- Dilution risk from 7.4 million warrants
Key Highlights
Standalone Revenue from operations grew 20.4% YoY to ₹239.61 cr in Q1 FY27.
Net Profit increased 37.5% YoY to ₹40.84 cr compared to ₹29.70 cr in the same quarter last year.
Announced acquisition of AdColony business from Digital Turbine for $4.70 million (~₹44.41 cr).
Approved issuance of 7.4 million convertible warrants at ₹1,487 each, totaling ~₹1,100.38 cr.
Investment of ₹135.83 cr in Bobble (24.07% stake) is under insolvency; appeal filed with NCLAT.
👀 What to Watch
Monitor the integration timeline of the AdColony assets and the final allotment of warrants which will significantly bolster the cash balance for future M&A. Investors should also track the NCLAT hearing regarding the Bobble investment to assess potential write-down risks.
Affle 3i Granted Indian Patent for AI Fraud Detection; IP Portfolio Reaches 18 Grants
Affle 3i Limited has been granted a patent in India for its AI-driven fraud detection system, which was previously approved in the US. The technology uses machine learning to analyze click-to-install patterns in real-time, ensuring advertisers only pay for authentic human conversions. This grant strengthens the company's core CPCU (Cost Per Converted User) business model by protecting advertiser ROI. Affle's IP portfolio now stands at 18 unique patent grants out of 39 filings, with approximately 300 enforceable claims.
Key Highlights
Patent granted for 'Method and system for click-to-install behavior based detection of fraud' in India.
Company IP portfolio expanded to 18 unique patent grants out of 39 total filed patents.
Approximately 300 enforceable patent claims held as of June 2026.
Technology utilizes ML models to analyze device and user behavior across agentic/autonomous intelligent connected devices (AICDs).
Real-time scoring and blocking of fraudulent publishers to safeguard the integrity of the CPCU business model.
👀 What to Watch
Investors should view this as a significant strengthening of Affle's technological moat and competitive advantage in the ad-tech space. The expansion of the IP portfolio provides long-term defensibility for their high-margin CPCU revenue stream.
Affle 3i Allots 74 Lakh Convertible Warrants to Promoter at Rs 1,487 Per Share
Affle 3i Limited has approved the allotment of 74,00,000 convertible warrants to its promoter, Affle Holdings Pte. Ltd., on a preferential basis. The warrants are priced at Rs 1,487 each, with the company receiving 25% of the total consideration (Rs 275.10 crore) upfront. Each warrant is convertible into one equity share within a period of 18 months upon payment of the remaining 75%. This capital infusion reflects strong promoter commitment and strengthens the company's balance sheet for future growth.
Key Highlights
Allotment of 74,00,000 convertible warrants to promoter entity Affle Holdings Pte. Ltd.
Issue price set at Rs 1,487 per warrant, including a premium of Rs 1,485 per share.
Initial 25% subscription price of Rs 275.10 crore has been received by the company.
Warrants are convertible into equity shares on a 1:1 basis within a maximum tenure of 18 months.
Total potential fundraise from the full conversion of warrants is approximately Rs 1,100.38 crore.
👀 What to Watch
The promoter's decision to infuse significant capital at Rs 1,487 per share signals strong internal confidence; investors should maintain a positive outlook while monitoring the utilization of these funds.
Affle 3i Limited Acquires AdColony Technology Assets and Trademark from Digital Turbine
Affle's subsidiary, Affle MEA FZ LLC, has entered into a definitive agreement to acquire strategic assets of AdColony, including its SDK, tech platform, and brand name, from Digital Turbine (DT). This acquisition is part of Affle's '10X growth strategy' to expand its global SDK reach and enhance its AI-powered Consumer Platform. The deal strengthens Affle's CPCU (Cost Per Converted User) business model by integrating AdColony's extensive publisher connections and audience intelligence. Additionally, Affle and DT will maintain an ongoing commercial partnership to leverage mutual supply and demand strengths.
Key Highlights
Acquisition includes AdColony SDK for Android and iOS, tech platform, and existing integrations with publishers and mediation platforms.
The deal transfers the AdColony brand name, domain, and goodwill to Affle's subsidiary.
Strategic move aimed at accelerating Affle's global scale and enhancing human-vs-non-human data distillation for better ROI.
Affle and Digital Turbine (DT) have established an ongoing commercial partnership following this asset sale.
The acquisition aligns with Affle's verticalized AI strategy and its focus on premium consumer conversions.
👀 What to Watch
Investors should monitor the integration of AdColony's assets, as this significantly expands Affle's global footprint and technological moat. The acquisition is likely to be accretive to Affle's CPCU model and long-term revenue growth.
Affle to Acquire AdColony Assets for USD 4.70 Million to Boost Mobile Ad Tech
Affle 3i Limited, through its step-down subsidiary Affle MEA FZ-LLC, has entered into a definitive agreement to acquire AdColony Assets from Digital Turbine, Inc. (NASDAQ: APPS) for a cash consideration of USD 4.70 million. The acquisition includes the AdColony SDK for iOS and Android, the tech platform, and existing publisher integrations. This strategic move aims to enhance Affle's consumer platform by increasing touchpoints and improving audience intelligence. The transaction is expected to close within seven business days and provides Affle with worldwide rights to the AdColony brand.
Key Highlights
Acquisition of AdColony Assets from Digital Turbine, Inc. for USD 4.70 million in upfront cash.
Assets include AdColony SDK for iOS/Android, tech platform, and existing publisher integrations.
Strategic focus on enhancing audience intelligence and driving advertiser conversions through increased touchpoints.
Acquisition provides worldwide rights to the well-recognized AdColony brand name and domain.
The transaction is expected to be completed within 7 business days.
👀 What to Watch
Investors should view this as a positive strategic expansion that strengthens Affle's global footprint and technology stack at a reasonable valuation. Monitor the integration of these assets and their impact on the company's consumer platform performance in the coming quarters.
Affle 3i Granted Indian Patent for AI Agent Monitoring; Total Patent Grants Reach 18
Affle 3i Limited has been granted a patent in India for its 'System for Monitoring and Integration of One or More Intelligent Conversational Agents,' a technology previously patented in the US. This patent establishes a trust-score-driven mediation layer to evaluate and integrate AI agents across autonomous intelligent connected devices (AICDs). The company's IP portfolio now stands at 18 unique patent grants out of 39 total filings, featuring approximately 300 enforceable patent claims. This move strengthens Affle's fraud intelligence and data distillation capabilities within its AI-powered Consumer Platform Stack.
Key Highlights
Secured Indian patent for a system monitoring and integrating intelligent conversational agents.
The patent was previously granted in the US, now strengthening the company's domestic IP portfolio.
Total IP portfolio reaches 18 unique patent grants out of 39 filed patents.
The company now holds approximately 300 enforceable patent claims as of June 2026.
Technology focuses on trust-score-driven evaluation and privacy-controlled sandbox evaluation for AI agents.
👀 What to Watch
Investors should recognize this as a strengthening of Affle's technological moat and competitive positioning in the AI-driven marketing space. The expansion of enforceable patent claims provides long-term protection for their core conversion-driven platforms.
Affle 3i Limited Increases Authorised Share Capital to ₹31 Crore
Affle 3i Limited (formerly Affle (India) Limited) has amended its Memorandum and Articles of Association following shareholder approval. The company's Authorised Share Capital is now fixed at ₹31,00,00,000 (₹31 Crores), divided into 15.5 crore equity shares of ₹2 each. Additionally, the Articles of Association were updated to allow the issuance of shares or convertible securities to any person via a Special Resolution for both cash and non-cash consideration. These changes provide the company with the necessary regulatory headroom for future capital expansion or strategic corporate actions.
Key Highlights
Authorised Share Capital set at ₹310,000,000 (₹31 Crores) as per the new Clause V of the MOA.
Total share count stands at 155,000,000 equity shares with a face value of ₹2 per share.
Amendment to Article 16(a)(iii) of the AOA enables share issuance for cash or consideration other than cash.
The changes became effective on June 10, 2026, following shareholder approval via Postal Ballot.
The move provides the company with increased flexibility for future fundraising or M&A activities.
👀 What to Watch
No immediate action is required as this is a regulatory enabling provision. Investors should monitor for future announcements regarding potential fundraises or acquisitions that may utilize this expanded capital limit.
Affle 3i Shareholders Approve Warrants to Promoters and Increase in Authorized Share Capital
Affle 3i Limited shareholders have approved four key resolutions via postal ballot, including the issuance of warrants on a preferential basis to the company's promoter with 96.65% approval. The company also received a 99.91% mandate to increase its Authorized Share Capital and 99.69% approval to change the objects of unutilized proceeds from a previous preferential issue. These moves indicate a strengthening of the promoter's stake and potential future capital deployment. The voting concluded on June 10, 2026, with all resolutions passing with the requisite majority.
Key Highlights
Shareholders approved the issuance of warrants on a preferential basis to the Promoter with 96.65% votes in favor (122,451,391 shares).
Resolution to increase Authorized Share Capital and alter the MoA passed with 99.91% majority (126,587,645 shares).
Change in the objects of unutilized proceeds from a previous Preferential Issue approved by 99.69% of voters.
Alteration of the Articles of Association (AoA) received near-unanimous support at 99.99%.
👀 What to Watch
Investors should view the promoter's intent to subscribe to warrants as a positive signal of long-term commitment. Monitor the company's future announcements regarding the specific redeployment of unutilized funds for growth.
Affle 3i Issues Corrigendum for Preferential Warrant Issuance to Promoters
Affle 3i Limited has issued a corrigendum to its Postal Ballot Notice dated May 11, 2026, regarding the issuance of warrants on a preferential basis to its promoters. The update follows suggestions from stock exchanges and provides supplementary information explaining why the income approach was not used in the valuation report. Importantly, the company confirmed there is no change in the pricing of the warrants or any other material terms. Shareholders who have already voted are given the option to modify their votes until June 10, 2026.
Key Highlights
Corrigendum relates to Item No. 2 regarding the issuance of warrants on a preferential basis to the Promoter.
Supplementary Information to Valuation Report dated June 5, 2026, explains the rationale for valuation methodology.
No changes have been made to the pricing of warrants or other information provided in the original notice.
Shareholders who already voted can modify their votes by emailing the scrutinizer by 5:00 PM on June 10, 2026.
👀 What to Watch
Investors should review the supplementary valuation report on the company's website to understand the pricing rationale, although the warrant price itself remains unchanged. No action is required unless the new disclosure changes your voting preference on the preferential issue.
Affle 3i Reports 20.3% Q4 Revenue Growth; Board Approves INR 11 Billion Fundraise for M&A
Affle 3i Limited delivered a strong performance in FY2026, with annual revenue growing 19.5% to INR 27.1 billion and EBITDA rising 26.3% to INR 6.1 billion. For Q4 FY2026, the company reported its 13th consecutive quarter of sequential growth, with revenue reaching INR 7.24 billion. A significant strategic move includes a proposed INR 11 billion fundraise through warrants issued to the promoter at INR 1,487 per share to support future acquisitions. The company maintains its medium-term guidance of 20% CAGR, supported by its AI-powered CPCU model and expanding IP portfolio.
Key Highlights
FY2026 revenue grew 19.5% y-o-y to INR 27.1 billion with EBITDA margins expanding 120 bps to 22.5%
Q4 FY2026 revenue stood at INR 7.24 billion (+20.3% y-o-y) and PAT at INR 1.20 billion (+16.0% y-o-y)
Board approved preferential issue of ~7.4 million warrants to promoters to raise ~INR 11 billion for inorganic growth
CPCU business delivered 120.3 million conversions in Q4 at an average rate of INR 60.0
The company's IP portfolio expanded to 18 granted patents and 21 pending filings
👀 What to Watch
Investors should view the consistent 20% growth and the massive INR 11 billion war chest for acquisitions as strong indicators of future scaling. Monitor the execution of upcoming M&A deals and the impact of warrant conversion on equity dilution.
Affle 3i to Raise ₹1,100.38 Cr via Preferential Warrant Issue to Promoter at ₹1,487/Share
Affle 3i Limited has issued a postal ballot notice to seek shareholder approval for a significant fundraise of ₹1,100.38 Crores. The company plans to issue 74,00,000 convertible warrants to its promoter, Affle Holdings Pte. Ltd., at a price of ₹1,487 per warrant. The proposal includes an upfront payment of 25% (₹371.75 per warrant) with the remaining 75% payable upon conversion within 18 months. Additionally, the company is seeking to increase its authorized share capital and repurpose unutilized proceeds from a previous preferential issue.
Key Highlights
Issuance of 74,00,000 convertible warrants to promoter Affle Holdings Pte. Ltd. at ₹1,487 per warrant
Total fundraise size of ₹1,100.38 Crores to be utilized for company growth and strategic objects
Authorized share capital to be increased from ₹30 Crores to ₹31 Crores (15.5 Crore equity shares)
Promoter to pay ₹371.75 per warrant upfront, with the balance ₹1,115.25 due upon conversion
Proposal to change the objects of unutilized proceeds from a previous preferential issue
👀 What to Watch
The promoter's decision to infuse capital at ₹1,487 per share is a strong signal of confidence in the company's future growth. Investors should monitor the final voting results on June 12, 2026, and look for further clarity on the revised 'objects of the issue' for the unutilized funds.
Affle Reports Robust Q4 FY2026 Results: Revenue Up 20.3% YoY to INR 724.4 Cr
Affle 3i Limited reported a strong performance for Q4 FY2026 with revenue growing 20.3% YoY to INR 724.4 crore and PAT increasing 16.0% to INR 119.5 crore. For the full year FY2026, the company achieved a revenue of INR 2,709.3 crore, representing a 19.5% growth, while EBITDA rose significantly by 26.3% to INR 610.1 crore. The CPCU business model remained the primary driver, delivering 45.6 crore converted users throughout the financial year. Management highlighted the 13th consecutive quarter of growth and a focus on AI-native capabilities to drive future efficiency.
Key Highlights
Q4 FY2026 revenue grew 20.3% YoY to INR 724.4 crore, with EBITDA at INR 161.2 crore.
Full-year FY2026 EBITDA margins expanded by 120 basis points to 22.5% compared to 21.3% in FY2025.
Annual PAT reached INR 454.9 crore, a 19.1% YoY increase from INR 381.9 crore in the previous year.
CPCU business delivered 12.0 crore converted users in Q4 and 45.6 crore for the full year FY2026.
The company maintained its 13th consecutive period of quarter-on-quarter growth despite global volatility.
👀 What to Watch
Investors should view the consistent double-digit growth and margin expansion as a sign of strong execution in the AI-led advertising space. The stock remains a solid long-term play on digital transformation and ROI-linked marketing budgets.
Affle 3i to Raise ₹1,100 Cr via Warrants to Promoters; FY26 Net Profit Rises 16% YoY
Affle 3i Limited has announced a major fundraise of up to ₹1,100.38 crore through the issuance of 74 lakh warrants to its promoter group at a price of ₹1,487 per warrant. This preferential issue will increase the promoter stake from 54.98% to 57.23%, demonstrating strong management confidence in the company's future. On the financial front, the company reported a 21% YoY growth in standalone revenue for FY26, reaching ₹864.4 crore. Annual standalone net profit also saw a healthy increase to ₹133.9 crore compared to ₹115.5 crore in the previous fiscal year.
Key Highlights
Approved preferential issuance of 74,00,000 warrants to promoters at ₹1,487 per share, totaling ₹1,100.38 crore
Standalone FY26 revenue grew 21% YoY to ₹8,644.25 million from ₹7,143.86 million
Standalone FY26 net profit increased 16% YoY to ₹1,339.19 million
Promoter shareholding to increase by 2.25% to 57.23% post-warrant conversion
Q4 FY26 standalone net profit rose 21.7% YoY to ₹375.36 million
👀 What to Watch
The promoter's decision to infuse significant capital at ₹1,487 per share serves as a strong valuation floor and a vote of confidence. Investors should remain positive on the stock while watching for details on how the ₹1,100 crore will be deployed for inorganic growth.
Affle 3i Secures 18th Granted Patent for Blockchain-Based Fraud Detection in India
Affle 3i Limited has been granted a new patent in India for a blockchain-enabled system designed to identify and mitigate fraudulent IP addresses and publishers. This technology, which was previously granted in the US, strengthens the company's proprietary CPCU (Cost Per Converted User) model by improving ad spend efficiency. The company's total IP portfolio now includes 39 unique patents, with 18 already granted and over 300 unique patent claims. This development fortifies Affle's AI-powered consumer platform stack against invalid traffic and non-genuine engagements.
Key Highlights
Grant of an Indian patent for a decentralized repository of fraudulent IP addresses utilizing blockchain technology.
The company now has 18 unique patents granted out of a total portfolio of 39 unique patents.
The IP portfolio currently encompasses over 300 unique patent claims globally.
The patented technology enables real-time verification and classification of suspicious traffic into shared blacklist/whitelist repositories.
Strengthens the competitive moat of the AI-powered CPCU model by reducing invalid traffic and enhancing ROI for advertisers.
👀 What to Watch
Investors should view this as a positive development that strengthens Affle's technological moat and competitive positioning in the digital advertising space. Long-term investors should monitor how these IP advancements contribute to margin expansion and client retention.
Affle Announces Leadership Evolution for 10x Growth; Co-founder Anuj Kumar to Step Down in 2026
Affle 3i Limited has announced a strategic leadership realignment to support its '10x Growth Plan' across global markets. Co-founder Anuj Kumar will transition out of all executive and non-executive roles effective April 16, 2026, after 20 years with the firm, though he remains the largest individual shareholder. The company is sharpening its focus on developed markets via North America leadership and strengthening its India/Emerging Markets team. Affle continues to emphasize its IP-led strategy, currently holding 18 granted patents and 39 filings globally.
Key Highlights
Co-founder Anuj Kumar to exit all roles by April 16, 2026, following a structured transition period through FY2026.
Leadership realigned with Sameer Sondhi anchoring North America and Vipul Kedia/Gulrez Alam leading India and Emerging Markets.
Company reports a robust IP portfolio of 39 unique patents filed and 18 granted with approximately 300 enforceable claims.
Strategic focus remains on AI-powered consumer intelligence to drive the '10x Growth Plan' across global digital ecosystems.
👀 What to Watch
Investors should monitor the transition over the next 12 months to ensure business momentum is maintained; the co-founder's decision to remain a major shareholder is a positive signal of long-term confidence.
Affle 3i Director Anuj Kumar Resigns After 20-Year Tenure Effective April 16, 2026
Mr. Anuj Kumar has resigned as the Non-Executive Director of Affle 3i Limited and from all executive roles in its subsidiaries, effective April 16, 2026. Having been with the company for 20 years, he cited personal reasons for his departure and stated he does not intend to take up other executive roles immediately. Significantly, Mr. Kumar recently acquired 100,000 equity shares of the company, signaling continued confidence in Affle's growth trajectory despite his exit. The company is working towards a smooth transition of his responsibilities over the next several weeks.
Key Highlights
Mr. Anuj Kumar to step down from all board and subsidiary roles effective April 16, 2026
Resignation comes after a long-standing 20-year association with the Affle group
Director recently acquired 100,000 equity shares, demonstrating personal conviction in the firm
Departure is for personal reasons with no material concerns cited regarding company operations
👀 What to Watch
Investors should treat this as a routine leadership transition given the long notice period and the director's recent share purchase. No immediate portfolio changes are recommended based on this announcement.
