🔍

AFFLE - Affle India

📊 NSE: AFFLE 🏢 Computers - Software - Medium / Small 📅 Last Updated: 12/13/2025 17:57

📢 Recent Corporate Announcements

Affle 3i Limited Conducts One-on-One Meeting with 360 One Capital

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 13 Mar 2026, 01:44 PM

Affle 3i Limited (formerly Affle India) held an in-person one-on-one meeting with 360 One Capital on March 13, 2026. The interaction was facilitated by B&K Securities as part of the company's ongoing investor relations program. The company explicitly stated that no unpublished price sensitive information (UPSI) was shared during the discussion. This disclosure is a routine compliance filing under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements.

Meeting held on March 13, 2026, with institutional investor 360 One Capital.
Interaction was conducted in an in-person, one-on-one format.
Facilitated by B&K Securities.
Company confirmed that no unpublished price sensitive information was disclosed.

💡 No immediate action is required as this is a routine regulatory disclosure. Investors should monitor for any future research reports or updates that may arise from such institutional interactions.

Affle 3i Limited Conducts Investor Meetings with PGIM MF and GIC Singapore

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 09 Mar 2026, 10:29 AM

Affle 3i Limited, formerly known as Affle (India) Limited, held one-on-one investor calls on March 09, 2026. The company engaged with major institutional investors, specifically PGIM Mutual Fund and GIC Singapore. According to the regulatory filing, these interactions were part of routine investor relations, and no unpublished price sensitive information was shared. Such meetings are standard practice for mid-to-large cap companies to maintain transparency with institutional stakeholders.

One-on-one investor calls conducted on March 09, 2026
Participating institutions included PGIM MF and GIC Singapore
Company confirmed that no unpublished price sensitive information (UPSI) was disclosed
Disclosure made in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015

💡 No immediate action is required as this is a routine regulatory disclosure. Investors should focus on the company's upcoming quarterly results for material financial updates.

Affle 3i Limited Conducts Multiple Investor Meetings with Major Funds and Research Houses

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 06 Mar 2026, 06:15 PM

Affle 3i Limited (formerly Affle India) held several one-on-one and group meetings with institutional investors and analysts on March 06, 2026. Key participants included Axis Max Life Insurance, Bandhan Mutual Fund, and Franklin Templeton. Research firms like Citi, Ambit, and Anand Rathi also attended the sessions to discuss company performance. The company clarified that no unpublished price sensitive information was disclosed during these interactions.

Meetings conducted on March 06, 2026, with over 7 major institutional entities and research firms.
Participants included prominent funds like Franklin Templeton Mutual Fund and Bandhan Mutual Fund.
Research coverage represented by Citi Research, Ambit Research, and Anand Rathi Research.
Company confirmed that no unpublished price sensitive information (UPSI) was shared during the meetings.

💡 This is a routine regulatory filing indicating active engagement with the investor community. Investors should monitor for any subsequent research reports issued by the participating brokerage firms for updated outlooks.

Affle 3i Limited Conducts Meetings with Major Institutional Investors

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 05 Mar 2026, 05:05 PM

Affle 3i Limited (formerly Affle India) held a series of meetings with prominent institutional investors on March 05, 2026. The participants included major domestic and international firms such as Axis Mutual Fund, ICICI Prudential, and Abrdn. These interactions were conducted through both in-person one-on-one sessions and calls. The company confirmed that no unpublished price sensitive information was disclosed during these discussions, maintaining regulatory compliance.

Meetings held on March 05, 2026, with six major institutional entities.
Participating firms included Axis Mutual Fund, ICICI Prudential Life Insurance, and Abrdn.
Interactions involved both in-person one-on-one meetings and telephonic calls.
Company explicitly stated that no unpublished price sensitive information (UPSI) was shared.

💡 This is a routine regulatory disclosure indicating active institutional engagement; no immediate action is required based on this update alone.

Affle 3i Director Anuj Kumar Resigns After 20-Year Tenure Effective April 16, 2026

🟡 NEUTRAL ⭐ 5/10

MANAGEMENT 📅 02 Mar 2026, 07:31 PM

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.

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

💡 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.

Affle 3i Granted Two New Patents in India; Total Granted Patents Reach 18

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 28 Feb 2026, 01:50 PM

Affle 3i Limited has been granted two new patents in India, focusing on interactive podcast advertising and advanced ad fraud detection. These additions bring the company's total granted patents to 18 out of a portfolio of 39 unique patents. The podcast patent enables voice and gesture-based ad interactions, while the fraud detection patent uses AI/ML to identify and block non-human engagements in real-time. These developments are designed to strengthen Affle's core CPCU model and enhance its competitive moat in the digital advertising ecosystem.

Granted two new patents in India, increasing the total number of granted unique patents to 18.
The company's total IP portfolio now includes 39 unique patents with approximately 300 enforceable claims.
New podcast patent enables multi-modal voice and gesture-based ad interactions to drive higher user conversions.
Ad fraud patent utilizes AI/ML strategies like honeypots and zero-pixels to detect and mitigate non-human activity.
The patents aim to fortify the AI-powered consumer platform stack and improve the effectiveness of the CPCU model.

💡 Investors should view this as a positive development that strengthens Affle's technological leadership and long-term competitive advantage. Monitor how these IP advancements impact conversion rates and margins in future earnings reports.

Affle 3i Reports Record Q3 FY26 Revenue of ₹7.17B and 24.1% EBITDA Growth

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 09 Feb 2026, 09:01 PM

Affle 3i Limited achieved its highest-ever quarterly performance in Q3 FY2026, with revenue crossing the ₹7 billion mark for the first time, representing a 19.2% y-o-y growth. The company reported a 24.1% y-o-y increase in EBITDA to ₹1.63 billion, marking its 7th consecutive quarter of sequential margin expansion. Despite regulatory headwinds in the Indian Real Money Gaming sector, India and Emerging Markets grew by 19.8% y-o-y, while Developed Markets grew by 17.8%. The management remains focused on its '10x growth vision' through AI-driven innovation and international expansion.

Quarterly revenue reached a record ₹7.17 Billion, up 19.2% y-o-y and 10.9% q-o-q.
EBITDA grew 24.1% y-o-y to ₹1.63 Billion with an EBITDA margin of 22.7%.
CPCU business delivered 119.7 million conversions at an improved rate of ₹59.6.
9M FY2026 PAT increased by 20.3% y-o-y, with Q3 PAT standing at ₹1.19 Billion.
Inventory and data costs rose to 62.4% of revenue due to strategic investments in international market verticalization.

💡 Investors should take confidence in the consistent sequential margin expansion and the company's ability to grow despite RMG sector challenges in India. Monitor the impact of increased inventory costs on long-term profitability as the company scales its international operations.

Affle 3i Limited Releases Q3 & 9M FY2026 Earnings Call Audio Recording

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 02 Feb 2026, 01:12 PM

Affle 3i Limited has released the audio recording of its earnings conference call for the third quarter and nine months ended December 31, 2025. The call, held on February 02, 2026, allows investors to hear management's detailed commentary on the company's financial performance and strategic outlook. This submission is in compliance with Regulation 30 of the SEBI (LODR) Regulations, 2015. The recording is publicly accessible via the company's official investor relations portal.

Earnings conference call held on February 02, 2026, at 10:00 AM IST.
Covers financial results for the quarter and nine-month period ending December 31, 2025.
Recording made available on the company website under the Investor Relations section.
Compliance filing under SEBI Listing Obligations and Disclosure Requirements.

💡 Investors should listen to the recording to understand management's perspective on revenue growth and future guidance for the digital advertising sector. Pay close attention to analyst Q&A regarding platform performance and international market expansion.

Affle 3i Reports Record Q3 FY26: Revenue Up 19.2% to ₹717.5 Cr, EBITDA Margins Expand to 22.7%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 31 Jan 2026, 04:43 PM

Affle 3i Limited delivered a robust performance in Q3 FY2026, achieving its highest-ever quarterly revenue of INR 717.5 crore, a 19.2% year-on-year growth. The company's EBITDA grew by 24.1% to INR 163.0 crore, with margins expanding by 89 basis points to 22.7%. Profit After Tax (PAT) also saw a healthy increase of 19.1% YoY to INR 119.3 crore, supported by strong momentum in the CPCU business which delivered 12.0 crore converted users. The growth was broad-based across both Indian and international markets, showcasing the scalability of its AI-powered platform.

Consolidated revenue for Q3 FY2026 rose 19.2% YoY to INR 717.5 crore, surpassing the INR 700 crore milestone.
EBITDA increased by 24.1% YoY to INR 163.0 crore, with EBITDA margins improving to 22.7% from 21.8% last year.
PAT grew 19.1% YoY to INR 119.3 crore, while 9M FY2026 PAT rose 20.3% to INR 335.3 crore.
The CPCU business model delivered 12.0 crore converted users in Q3, with CPCU revenue growing 19.6% YoY to INR 713.6 crore.
9M FY2026 revenue reached INR 1,984.9 crore, up 19.3% YoY, with EBITDA margins at 22.6%.

💡 Investors should note the company's ability to maintain high growth and margin expansion despite a challenging global environment. The successful integration of AI-powered agents like Niko and record-high conversions suggest strong operational momentum.

Affle 3i Reports Strong Q3 FY26: PAT Up 19.1% YoY to ₹1,193 Mn; EBITDA Margins Expand to 22.7%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 31 Jan 2026, 04:32 PM

Affle 3i Limited delivered a robust performance in Q3 FY2026, with revenue growing 19.2% YoY to ₹7,175 million. Profitability saw a significant boost as EBITDA rose 24.1% YoY to ₹1,630 million, driven by margin expansion to 22.7% from 21.8% in the previous year. The core CPCU business remains the primary driver, contributing 99.5% of revenue with 119.7 million conversions during the quarter. The company continues to see balanced growth across India, emerging markets, and developed markets, supported by its AI-led consumer platform.

Revenue from operations grew 19.2% YoY to ₹7,175 million in Q3 FY2026.
EBITDA increased by 24.1% YoY to ₹1,630 million, with margins improving to 22.7%.
Profit After Tax (PAT) stood at ₹1,193 million, representing a 19.1% YoY growth.
CPCU conversions reached 119.7 million in Q3, with the average CPCU rate rising to ₹59.6.
9M FY2026 performance shows strong momentum with EBITDA up 28.5% YoY to ₹4,489 million.

💡 Investors should note the healthy margin expansion and steady growth in CPCU conversions as signs of strong operational efficiency. The company's focus on AI-led intelligence and high-growth verticals like E-commerce and Fintech continues to drive sustainable growth.

Affle 3i Q3 Standalone Net Profit Rises 25.3% YoY to ₹366.8M; Revenue Up 20.6%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 31 Jan 2026, 03:57 PM

Affle 3i Limited (formerly Affle India) reported a strong standalone performance for Q3 FY2025-26, with revenue from operations growing 20.6% YoY to ₹2,262.02 million. Net profit for the quarter increased by 25.3% YoY to ₹366.77 million, up from ₹292.60 million in the previous year. The company's nine-month revenue reached ₹6,449.88 million, marking a 22.4% growth compared to the same period last year. Profitability remains robust with Profit Before Tax (PBT) rising to ₹491.70 million for the quarter.

Standalone revenue from operations increased 20.6% YoY to ₹2,262.02 million in Q3 FY26.
Net profit for the quarter grew 25.3% YoY to ₹366.77 million from ₹292.60 million.
Earnings Per Share (EPS) for the quarter improved to ₹2.61, up from ₹2.09 YoY.
Nine-month standalone net profit stands at ₹963.83 million compared to ₹846.59 million in the previous year.
The company maintains significant cash reserves with over ₹5.4 billion from QIP and ₹4.9 billion from preferential allotment still held in deposits.

💡 The consistent double-digit growth in both top-line and bottom-line figures confirms Affle's strong market position in the digital advertising ecosystem. Investors should monitor the company's deployment of its substantial cash reserves for potential inorganic growth opportunities.

Affle 3i Limited Grants 1.37 Lakh Stock Options Under ESOP Scheme 2021

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 28 Jan 2026, 05:20 PM

Affle 3i Limited has announced the grant of 1,37,080 stock options to eligible employees under its Employee Stock Option Scheme 2021. The options are convertible into equity shares of face value Rs. 2 each, with the exercise price set at the closing market price on January 27, 2026. The vesting schedule is staggered over a four-year period to ensure long-term employee retention. This is a standard corporate procedure for technology-driven companies to align employee interests with shareholder value.

Total of 1,37,080 stock options granted to eligible employees on January 28, 2026
Exercise price is based on the NSE closing price of January 27, 2026
77,480 options vest at 25% annually over a period of 48 months
59,600 options follow a back-ended vesting with 50% at 24 months and 25% in years 3 and 4
The exercise period for the options is one year from the date of vesting

💡 This is a routine administrative update for talent retention and requires no immediate action from investors. Long-term investors should track the cumulative equity dilution resulting from such ESOP grants in the company's annual filings.

Affle 3i Limited Schedules Q3 & 9M FY2026 Earnings Call for February 2, 2026

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 28 Jan 2026, 10:57 AM

Affle 3i Limited (formerly Affle India Limited) has announced its earnings conference call for the third quarter and nine months ended December 31, 2025. The call is scheduled for Monday, February 02, 2026, at 10:00 AM IST. Senior management, including the MD & CEO and the CFO, will be present to discuss financial results and business developments. This is a routine but essential event for stakeholders to understand the company's growth trajectory in the digital advertising space.

Earnings call scheduled for February 02, 2026, at 10:00 AM IST
Covers financial performance for Q3 and 9M ended December 31, 2025
Management representation includes Chairperson, MD & CEO Anuj Khanna Sohum and CFO Kapil Bhutani
Universal dial-in numbers provided: +91 22 6280 1386 and +91 22 7115 8287
International toll-free access available for USA, UK, Singapore, Hong Kong, and Japan

💡 Investors should attend the call or review the transcript to assess management's outlook on ad-tech spending and the impact of the company's recent rebranding. Focus on key metrics like CPCU (Cost Per Converted User) growth and international expansion updates.

Affle 3i Allots 44,250 Equity Shares to ESOP Trust

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 12 Jan 2026, 11:26 AM

Affle 3i Limited has allotted 44,250 equity shares of Rs. 2 each to its Employees’ Welfare Trust under the 2021 ESOP scheme. This allotment has marginally increased the company's total paid-up share capital to Rs. 28.15 crore, represented by 14.07 crore shares. The company has explicitly stated that this allotment is not material in nature. The newly allotted shares are currently in the process of being listed on both the NSE and BSE.

Allotment of 44,250 equity shares to the Affle (India) Limited Employees’ Welfare Trust
Total paid-up share capital increased to Rs. 281,514,768
Total number of equity shares outstanding now stands at 140,757,384
Allotment conducted under the Affle (India) Limited Employee Stock Option Scheme – 2021

💡 This is a routine administrative update with negligible equity dilution. Investors should continue to monitor the company's core business performance as this event has no material impact on financials.

Affle 3i Limited Conducts Investor Meetings with Dolat Capital and Fidelity International

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 09 Jan 2026, 05:07 PM

Affle 3i Limited (formerly Affle India) held one-on-one in-person meetings with institutional investors on January 09, 2026. The company met with Dolat Capital in Gurgaon and Fidelity International in Singapore. These interactions are part of the company's regular engagement with the investor community. The management confirmed that no unpublished price sensitive information (UPSI) was shared during these sessions.

One-on-one in-person meeting held with Dolat Capital in Gurgaon on January 09, 2026.
One-on-one in-person meeting held with Fidelity International in Singapore on January 09, 2026.
The meetings were conducted in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.
Company explicitly stated that no unpublished price sensitive information was disclosed.

💡 No immediate action is required as this is a routine disclosure. Investors may monitor for any future research notes or reports issued by these participating institutions.

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💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue from contracts with customers grew 23.0% YoY to INR 22,663.08 million in FY2024-25. Standalone revenue, representing the core Indian operations, grew 26.2% YoY to INR 7,143.86 million. In Q2 FY2026, revenue from operations grew 19.1% YoY to INR 5,411 million.

Geographic Revenue Split

While specific regional percentages are not disclosed, the company highlights growth across broad-based industry verticals and markets, with specific mentions of the India market (impacted by RMG vertical) and developed markets (impacted by budget shifts).

Profitability Margins

Profit After Tax (PAT) margin for Q2 FY2026 stood at 16.5%, an improvement of 40 basis points from 16.1% in Q2 FY2025. For H1 FY2026, PAT margins expanded by 53 basis points. FY2024-25 consolidated PAT margin was approximately 16.8% based on PAT of INR 3,818.69 million.

EBITDA Margin

EBITDA margin stood at 22.6% in Q2 FY2026, marking the 6th consecutive quarter of EBITDA margin expansion. EBITDA grew 28.9% YoY in Q2 FY2026 and 31.2% YoY in H1 FY2026 to reach INR 2,858 million.

Capital Expenditure

The company generated cash flows from operations of INR 4,259.91 million in FY2024-25, a 62.4% increase YoY. Specific planned Capex figures are not disclosed, but the company opted not to pay dividends to reinvest profits for growth and expansion.

Credit Rating & Borrowing

Total consolidated debt was INR 772.16 million as of March 31, 2025, with no new borrowings undertaken during the year. The company maintains a high liquidity position with cash and bank balances of INR 14,182.33 million.

⚙️ Operational Drivers

Raw Materials

Inventory and Data Costs represent the primary 'raw material' for the digital platform, accounting for 60.8% of revenue in FY2024-25 and 61.2% of revenue in Q2 FY2026.

Capacity Expansion

The company operates as a tech platform; capacity is driven by workforce (618 employees as of March 31, 2025) and intelligent automation. No physical MT/MW capacity metrics apply.

Raw Material Costs

Inventory and data costs were INR 13,793.14 million in FY2024-25, a 22.6% increase YoY, which is slightly lower than the 23.0% revenue growth, indicating improved algorithmic efficiency.

Manufacturing Efficiency

Efficiency is measured by the ability to increase CPCU (Cost Per Converted User) pricing while maintaining stable Opex. Employee costs in Q2 FY2026 grew only 3.7% sequentially, lower than topline growth, due to automation.

Logistics & Distribution

Not applicable; distribution is digital via the Consumer Platform.

📈 Strategic Growth

Expected Growth Rate

20%

Growth Strategy

Affle targets 20% YoY growth by positioning itself as a premium platform focusing on high-value CPCU (Cost Per Converted User) conversions rather than low-margin volume. Growth is driven by broad-based momentum across industry verticals, market expansion in developed regions, and strategic investments like the INR 7.98 million investment in Talent Unlimited Online Services.

Products & Services

Consumer Platform (CPCU-based advertising), brand awareness campaigns, and digital conversion services for mobile advertisers.

Brand Portfolio

Affle, Affle 3i Limited.

New Products/Services

Brand awareness campaigns (non-CPCU business) are being scaled to generate additional revenue through the existing Consumer Platform.

Market Expansion

Expansion is targeted in developed markets and premium advertiser segments to drive higher unit economics.

Strategic Alliances

Strategic investment in Talent Unlimited Online Services Private Limited (INR 7.98 million) for equity and preference shares.

🌍 External Factors

Industry Trends

The industry is shifting toward high-value user acquisition and premium conversions. Affle is positioned as a margin-sensitive, bottom-line aggressive player in this 20% growth market.

Competitive Landscape

Competes with other digital advertising platforms but differentiates by 'saying no' to low-margin business to protect its premium moat.

Competitive Moat

Moat is built on proprietary algorithms that drive data/inventory cost efficiencies and a premium positioning that allows for higher CPCU rates. This is sustainable due to the high switching costs for advertisers seeking guaranteed conversion outcomes.

Macro Economic Sensitivity

Sensitive to global economic conditions and festive seasonality, which can shift advertising budgets between quarters (e.g., Q2 to Q3).

Consumer Behavior

Shift toward mobile-first consumption and high-lifetime-value user engagement is driving demand for Affle's conversion-led model.

Geopolitical Risks

Risks include political instability and legal restrictions on raising capital or acquiring companies outside India.

⚖️ Regulatory & Governance

Industry Regulations

Impacted by digital advertising regulations and specific vertical restrictions, such as the RMG (Real Money Gaming) regulations in India which affected receivable provisions.

Environmental Compliance

Not disclosed as a material cost for this digital services company.

Taxation Policy Impact

Effective tax rate is reflected in the difference between PBT (INR 4,676.37 million) and PAT (INR 3,818.69 million) for FY2024-25.

Legal Contingencies

The company reported no pending complaints for resolution as of March 31, 2025. No specific high-value court cases were disclosed.

⚠️ Risk Analysis

Key Uncertainties

Potential for 0.5% revenue impact from RMG collection risks and fluctuations in earnings due to the seasonality of advertising spend.

Geographic Concentration Risk

Standalone operations (primarily India) contribute approximately 31.5% of consolidated revenue (INR 7,143.86 million of INR 22,663.08 million).

Third Party Dependencies

Dependent on third-party inventory and data providers, representing 60.8% of the cost structure.

Technology Obsolescence Risk

Mitigated by continuous investment in intelligent automation and algorithm updates to maintain conversion efficiency.

Credit & Counterparty Risk

Credit risk is specifically noted in the RMG vertical in India; however, overall trade receivables decreased by 5.9% YoY despite revenue growth, indicating strong general credit management.