Mobavenue AI Tech Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Mobavenue AI Tech Ltd filed with BSE on 25 May 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Mobavenue AI Tech Limited reported FY26 revenue of Rs 218.48 crore with EBITDA of Rs 45.37 crore at a 20.8% margin and profit after tax of Rs 29.35 crore at a 13.4% margin. Management described the year as one of structural changes including the renaming from Lucent Industries, the 100% acquisition of Mobavenue Media Private Limited, and a preferential capital raise of Rs 49.99 crore. Q4 FY26 revenue stood at Rs 62.6 crore, up 41.9% year-on-year, with international revenue contributing 11.5% of FY26 revenue and direct clients contributing 73.9%.
Numbers mentioned
Revenue: INR218.48 crores (FY26)
p. 3
“For the full year, revenue from the operations stood at INR218.48 crores.”
Ishank Joshi, page 3 of the filed PDF · View the filing
EBITDA: INR45.37 crores (FY26)
p. 3
“EBITDA stood at INR45.37 crores with an EBITDA margin of 20.8%.”
Ishank Joshi, page 3 of the filed PDF · View the filing
Profit after tax: INR29.35 crores (FY26)
p. 3
“Profit after tax stood at INR29.35 crores translating into a PAT margin of 13.4%.”
Ishank Joshi, page 3 of the filed PDF · View the filing
International revenue contribution: 11.5% (FY26)
p. 5
“Today, I am glad to share that international revenue contribution stood at 11.5% for FY26 and this is the base we want to build on over coming years.”
Ishank Joshi, page 5 of the filed PDF · View the filing
Direct client revenue contribution: 73.9% (FY26)
p. 5
“The direct client contributed 73.9% in the FY26 revenue.”
Ishank Joshi, page 5 of the filed PDF · View the filing
Verified outcomes delivered: 42.72 million (FY26)
p. 5
“Now, during the year, we delivered 42.72 million verified outcomes and expanded our platform reach to approximately 2.5 billion devices worldwide.”
Ishank Joshi, page 5 of the filed PDF · View the filing
Revenue per outcome: INR48.44 (Q4 FY26)
p. 5
“It moved from INR44.99 in Q1 to INR48.44 in Q4 FY26.”
Ishank Joshi, page 5 of the filed PDF · View the filing
Consolidated revenue: INR62.6 crores (Q4 FY26)
p. 12
“We concluded Q4 FY26 at a consolidated revenue of INR62.6 crores delivering year-on-year growth of 41.9% and a sequential growth of 13.6%.”
Vijay Basantani, page 12 of the filed PDF · View the filing
Employee benefit expenses: INR25.9 crores (FY26)
p. 12
“In FY 2026, we reported INR25.9 crores.”
Vijay Basantani, page 12 of the filed PDF · View the filing
Other expenses: INR15.6 crores (FY26)
p. 12
“In FY26, we reported INR15.6 crores as other expenses.”
Vijay Basantani, page 12 of the filed PDF · View the filing
EBITDA: INR13.3 crores (Q4 FY26)
p. 12
“EBITDA delivered a year-on-year growth of 67.5% from INR8 crores to INR13.3 crores and a sequential growth of 8.9% from INR12.3 crores.”
Vijay Basantani, page 12 of the filed PDF · View the filing
EBITDA margin: 21.3% and 20.8% (Q4 FY26 and FY26)
p. 12
“EBITDA margin for Q4 ‘26 and FY26 stood at 21.3% and 20.8% respectively.”
Vijay Basantani, page 12 of the filed PDF · View the filing
PAT: INR8.4 crores (Q4 FY26)
p. 12
“PAT delivered a year-on-year growth of 56.6% from INR5.4 crores to INR8.4 crores and a sequential growth of 10.9% from INR7.6 crore.”
Vijay Basantani, page 12 of the filed PDF · View the filing
PAT margin: 13.5% and 13.4% (Q4 FY26 and FY26)
p. 12
“PAT margin for Q4 ‘26 and FY26 stood at 13.5% and 13.4% respectively.”
Vijay Basantani, page 12 of the filed PDF · View the filing
Employees: more than 200 (FY26)
p. 6
“We ended the year with more than 200 employees and continue to invest in high profile leadership, depth, governance, employee ownership, and responsible growth.”
Ishank Joshi, page 6 of the filed PDF · View the filing
Preferential capital raise: INR49.99 crores (FY26)
p. 4
“Third is what we have completed our preferential capital raise of INR49.99 crores.”
Ishank Joshi, page 4 of the filed PDF · View the filing
Real-time inference latency: under 15 milliseconds (FY26)
p. 8
“Our systems now deliver real-time inference at under 15 milliseconds, materially faster than traditional industry benchmarks, which typically sit at around 50 milliseconds and above.”
Tejas Rathod, page 8 of the filed PDF · View the filing
Daily processed signals: more than 125 crore (FY26)
p. 8
“Every day our platform processes more than 125 crore consented and privacy-compliant consumer and campaign signals across devices, audiences, and digital touchpoints.”
Tejas Rathod, page 8 of the filed PDF · View the filing
Retained customer revenue share: 80%
p. 17
“So 80% of our revenue today comes from our retained customers, right?”
Ishank Joshi, page 17 of the filed PDF · View the filing
Top 10 client revenue concentration: around 25%
p. 18
“So top 10 would be somewhere around, you know, 25% of our revenue and as we kind of progressively go upward the cycle, you know, top 50 customers would today contribute around 60%, 65% of our revenue out there.”
Ishank Joshi, page 18 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Revenue growth and EBITDA margin — over 30% revenue growth and 20% and above EBITDA margin · long-term
stated as an aspiration by Ishank Joshi
p. 6
“Our long-term operating philosophy continues to be anchored around what we call, and we introduced in the last call as Rule of 50, targeting a sustained annual revenue growth of over 30% along with EBITDA margin profile of 20% and above.”
Ishank Joshi, page 6 of the filed PDF · View the filing
FY27 outlook — FY27
stated conditionally by Ishank Joshi
p. 8
“Our outlook for FY27 remains directional rather than formal guidance for us, consistent with our earlier communication too.”
Ishank Joshi, page 8 of the filed PDF · View the filing
Global scaling — deepen presence in UK and LATAM and evaluate additional markets · FY27
stated firmly by Ishank Joshi
p. 7
“We will deepen our presence in UK and LATAM and evaluate additional emerging and developed markets through direct teams, agency, and reseller partnership and also some selective M&A.”
Ishank Joshi, page 7 of the filed PDF · View the filing
AI and product innovation investment — scale purpose-built platforms across streaming TV, DOOH, retail, rewarded media, creative optimization · FY27
stated firmly by Ishank Joshi
p. 7
“We will continue investing in our AI center of excellence, which we refer as Mobavenue AI Labs and we will scale purpose-built platforms on our consumer growth engine across streaming TV, DOOH, retail and rewarded media, and creative optimization, and some of the other structural AI advancements towards automation and agentic framework.”
Ishank Joshi, page 7 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said they are selective and prudent about M&A, evaluating opportunities based on technology capability enhancement and market/customer growth, but current growth projections are based on organic capability.
Answered by Ishank Joshi
Asked by Smit Shah: Are any acquisitions or strategic partnerships being evaluated?
p. 13
“we are very selective and prudent in, you know, the M&A probability.”
Ishank Joshi, page 13 of the filed PDF · View the filing
Tejas Rathod said the platform now processes more than 125 crore signals daily, up from 100 crore, and processes 50 terabytes of data in about one hour, down from 10-12 hours.
Answered by Tejas Rathod
Asked by Smit Shah: How is the technology platform being strengthened further?
p. 14
“Already we have explained that our platform processes more than 125 crore of consented and privacy-compliant consumer and campaign signals that was earlier only 100 crores.”
Tejas Rathod, page 14 of the filed PDF · View the filing
Management said retention has been strong, citing 150 active customers who continue spending on a monthly and quarterly basis.
Answered by Ishank Joshi
Asked by Atul Daga: What has been the trend in customer retention and repeat business during FY26?
p. 14
“So our customer retention, you know, once they become more active and we finish off our pilot with them and we are able to produce outcomes for them has been phenomenal in nature.”
Ishank Joshi, page 14 of the filed PDF · View the filing
Management named Quick Commerce, Fintech, and Retail as the top three demand categories, noting travel was strong earlier in the year but slightly hampered post-war in the last quarter.
Answered by Ishank Joshi
Asked by Atul Daga: Which verticals or customer categories are seeing the strongest demand currently?
p. 14
“You know, we've been seeing demand of course on the consumer side most of the categories. However, if we have to select the three top most would be Quick Commerce, Fintech, and Retail.”
Ishank Joshi, page 14 of the filed PDF · View the filing
Management outlined three growth levers: strengthening enterprise and mid-market relationships, global expansion into new markets, and product/IP innovation through AI Labs.
Answered by Ishank Joshi
Asked by Chetan Mehta: What are the company's strategic priorities over the next 12 to 24 months?
p. 15
“one of the first priorities of course strengthening our relationship with our existing customers, enterprise customers and starting expanding to mid-enterprise customers using our agency relationship, reseller and platform partnerships.”
Ishank Joshi, page 15 of the filed PDF · View the filing
Management said they have built risk modelling into planning covering macro factors like oil price volatility and cross-border issues, and continue to target the Rule of 50 framework.
Answered by Ishank Joshi
Asked by Chetan Mehta: Are there any operational issues or execution risks investors should monitor?
p. 16
“we have done those risk adjustments into our growth and we are also looking prudently in those segments.”
Ishank Joshi, page 16 of the filed PDF · View the filing
Management reiterated 80% of revenue comes from retained customers, revenue per outcome improved from Rs 44 to Rs 48 due to technology and higher intent customers, and top 10 clients contribute around 25% of revenue while top 50 contribute 60-65%.
Answered by Ishank Joshi
Asked by Chirag Kachhadiya: What is the repeat business as a percentage of revenue compared to last year, how does price increase clause work, and what is client concentration risk?
p. 17
“So 80% of our revenue today comes from our retained customers, right? And that we have seen typically over years that has been our trend line out there.”
Ishank Joshi, page 17 of the filed PDF · View the filing
Management said brands do not give exclusivity to any single platform, and the company competes with other platforms in the programmatic space while tracking wallet share with retained customers.
Answered by Ishank Joshi
Asked by Chirag Kachhadiya: Is the company an exclusive vendor for its top clients or does it compete with others?
p. 18
“I mean first of all, I think the brands and, you know, the businesses do not give exclusivity to, you know, one of the platform.”
Ishank Joshi, page 18 of the filed PDF · View the filing
Risks flagged
Global macro environment including geopolitical conflicts, oil price volatility, and inflationary pressures
p. 8
“We are also mindful of global macro environment including geopolitical conflicts, oil price volatility, inflationary pressures, and have factored this into our risk modeling that we do across the year.”
Ishank Joshi, page 8 of the filed PDF · View the filing
Travel category demand hampered post-war in the most recent quarter
p. 14
“Of course the last quarter for travel post the war has been slightly hampered but, you know, but we are seeing the domestic travel continue to grow”
Ishank Joshi, page 14 of the filed PDF · View the filing
Client concentration risk in certain high-growth categories
p. 18
“But having said that because there are certain categories such as Commerce and Fintech which is growing faster than some of the other categories and Quick Commerce specifically in India.”
Ishank Joshi, page 18 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.