🔍

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 Investor Meeting with Bajaj Life Insurance

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 13 Apr 2026, 04:19 PM

Affle 3i Limited (formerly Affle India) has informed the stock exchanges about a one-on-one interaction with Bajaj Life Insurance held on April 13, 2026. The meeting was conducted via a call as part of the company's regular investor engagement activities. The company explicitly stated that no unpublished price sensitive information (UPSI) was shared during the discussion. This disclosure is a standard regulatory requirement under Regulation 30 of SEBI (LODR) Regulations.

One-on-one call conducted with Bajaj Life Insurance on April 13, 2026.
Company confirmed that no unpublished price sensitive information (UPSI) was shared during the interaction.
The filing is in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The meeting represents routine institutional investor engagement by the company.

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

Affle 3i Limited Allots 39,000 Equity Shares Under ESOP Scheme 2021

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 10 Apr 2026, 03:36 PM

Affle 3i Limited has allotted 39,000 equity shares of face value Rs. 2 each to its Employees’ Welfare Trust on April 10, 2026. This issuance is part of the company's 2021 Employee Stock Option Scheme aimed at employee retention and incentives. Consequently, the total paid-up share capital has increased to Rs. 28,15,92,768, representing 14,07,96,384 equity shares. The company has stated that this allotment is not material in nature and is currently in the process of listing these shares on the BSE and NSE.

Allotment of 39,000 equity shares of Rs. 2 face value on April 10, 2026
Total paid-up share capital increased to Rs. 28,15,92,768
Total number of equity shares post-allotment stands at 14,07,96,384
Shares issued to Affle (India) Limited Employees’ Welfare Trust under the 2021 ESOP scheme
Company confirms the allotment is not material to its overall operations

💡 This is a routine administrative update with negligible equity dilution of approximately 0.027%. Investors should focus on the company's quarterly earnings and growth in the digital advertising space rather than this allotment.

Affle 3i Limited Holds One-on-One Investor Call with Arika Capital

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 08 Apr 2026, 05:44 PM

Affle 3i Limited (formerly Affle India Limited) conducted a one-on-one meeting with Arika Capital on April 08, 2026. The interaction was held via a call as part of the company's regular investor engagement activities. The company has explicitly stated that no unpublished price sensitive information (UPSI) was shared during this session. This disclosure is a standard compliance requirement under SEBI (LODR) Regulations, 2015.

One-on-one investor call held with Arika Capital on April 08, 2026
Compliance disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015
Management confirmed that no unpublished price sensitive information was disclosed
The meeting reflects ongoing institutional interest in the company's business model

💡 No immediate action is required as this is a routine investor meeting. Investors should continue to monitor quarterly financial results for fundamental performance updates.

Affle 3i Limited Conducts Investor Meetings with ICICI Prudential MF and TCG AMC

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 30 Mar 2026, 05:04 PM

Affle 3i Limited, formerly known as Affle (India) Limited, has reported its participation in investor meetings held on March 30, 2026. The company engaged in one-on-one calls with institutional investors ICICI Prudential Mutual Fund and TCG AMC. According to the regulatory filing, these interactions were conducted to discuss general business updates, and no unpublished price sensitive information (UPSI) was shared. Such meetings are part of the company's routine engagement with the financial community.

One-on-one calls conducted with ICICI Prudential MF and TCG AMC on March 30, 2026.
The company confirmed that no unpublished price sensitive information (UPSI) was disclosed during the meetings.
The disclosure was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The entity was formerly known as Affle (India) Limited before its name change to Affle 3i Limited.

💡 This is a routine regulatory disclosure with no immediate impact on stock fundamentals. Investors should continue to monitor the company's quarterly earnings for material performance updates.

Affle 3i Limited Conducts One-on-One Meetings with Sundaram MF, Bay Capital, and Quantum AMC

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 27 Mar 2026, 04:16 PM

Affle 3i Limited (formerly Affle India) has disclosed a series of institutional investor interactions held on March 27, 2026. The company engaged in one-on-one meetings with Sundaram Mutual Fund, Bay Capital, and Quantum AMC to discuss general business updates. These interactions were conducted through a mix of in-person meetings and telephonic calls. The company confirmed that no unpublished price sensitive information (UPSI) was shared during these sessions, adhering to SEBI Listing Obligations.

Three separate one-on-one institutional interactions conducted on March 27, 2026.
Participating entities included Sundaram Mutual Fund, Bay Capital, and Quantum AMC.
Meeting formats included one in-person session and two telephonic calls.
The company explicitly stated that no unpublished price sensitive information was disclosed.
Disclosure made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

💡 This is a routine regulatory disclosure indicating active institutional engagement. Investors should monitor for any future research notes or outlook changes from these specific institutional houses regarding Affle's growth prospects.

Affle 3i Secures 18th Granted Patent for Blockchain-Based Fraud Detection in India

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 25 Mar 2026, 08:13 PM

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.

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.

💡 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 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.

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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.