Fractal Analytics Limited · NSE:FRACTAL
Fractal Analytics — Q2 FY27 Earnings Presentation
47 slides from Fractal Analytics's earnings presentation, Nov 4, 2026
Slide 1: Stock exchange intimation letter for investor presentation
Ref./No./FRACTAL/SE/2026-27/070 Date: November 4, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot No. C/1, G Block, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Fort, Bandra (East), Mumbai 400051 Mumbai 400 001 Maharashtra, India Maharashtra, India Sc
Slide 2: Performance Update Q2 FY27
Performance Update Q2 FY27 Nov 3, 2026 1
Slide 3: Safe Harbor Statement
Safe Harbor Statement Certain statements in this presentation concerning our future growth prospects are forward-looking statements. These statements are subject to substantial known and unknown risks, uncertainties and other factors, which may cause actual results or outcomes to differ materially f
Slide 4: We are an enterprise AI company
We are We are an enterprise AI company with a vision to power every human decision in the enterprise. We build AI models, platforms and products, and engineer them into the critical decisions of Fortune500® organizations. Fractal at a glance (TTM) 36,098 46% 10% 58 6% 6,173 80 +19% YoY +8% YoY Reven
Slide 5: Enterprise AI lab powering decisions and agentic actions
Enterprise AI lab powering decisions and agentic actions DOMAIN CAPABILITIES AI PRODUCTS AGENTIC AI Banking, Financial cogentiq Services and Insurance Retail Platform & Products SOLUTION TOWERS Consumer Packaged Goods AIT AI Decisions & Workflows GENERATIVE AI Healthcare & AIF Life Sciences AI Conte
Slide 6: Financial Performance Q2 FY27
Financial Q2 FY27 Revenue ▲20% YoY Performance Net Income ▲139% YoY 5
Slide 7: Q2'27 Fractal Group: First-ever $100m+ revenue quarter
Q2’27 Fractal Group: First-ever $100m+ revenue quarter Growth Profitability Other highlights INR 9,565m▲20% YoY, 10% CC YoY 1 44%▼225 bps YoY 6.3% Revenue from operations Gross Margin AI R&D investments4 115% 76 16%▲123 bps YoY INR 793m INR 17,277m Net Revenue Net Promoter Adjusted EBITDA Cash flow
Slide 8: Q2'27 robust growth across most industries and geographies
Q2’27 Fractal Group: We delivered robust growth across most industries and geographies Revenue by industry (Q2’27) – Fractal Group Revenue by geography (Q2’27) – Fractal Group YoY Others APAC & YoY 8.7% CPGR Others ▲11% 11.2% BFSI Americas ▲22% 13.6% CPGR HLS ▲79% 34.7% Europe Europe ▲20% TMT ▼ 18%
Slide 9: Q2'27 Fractal.ai: existing clients continue to expand relationships
Q2’27 Fractal.ai: Our existing clients continue to expand their relationships with us Net Revenue Retention (NRR) 5% 0% 21% 15% 115% Q2’27 (INR) Existing clients New clients Churn Growth% Net Revenue Retention (NRR) in our Fractal.ai segment measures how effectively we retain and expand revenue from
Slide 10: Clients rate us highly; NPS at 76
Q2’27: Clients continue to rate us highly; NPS at 76 Industry-leading Net Promoter Score (NPS) 1 for Fractal.ai 76 Q2’27 140 120 100 73 81 74 80 80 77 78 75 73 78 77 81 77 76 80 60 40 20 0 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 1 Net Promoter Score (NPS)
Slide 11: Fractal.ai: scaled client relationships with headroom for growth
Fractal.ai: We have scaled client relationships with significant headroom for growth Clients by TTM Revenue Contribution TTM Sep-25 TTM Sep-26 >$1m 52 58 of which, >$5m 17 20 of which, >$10m 7 8 of which, >$20m 4 6 10
Slide 12: Adjusted EBITDA expanded by 123 bps driven by operating leverage
Fractal Group: Adjusted EBITDA expanded by 123 bps driven by operating leverage; short-term impact in GM driven by investment in AI engineering talent Q2’27 Gross Margin (INR Mn) Q2’27 Adjusted EBITDA (INR Mn) 4,300 +14% YoY 4,205 1,600 +30% YoY 1,549 30.0% 75.0% 4,100 1,195 1,400 25.0% 3,900 3,690
Slide 13: Q2'27 Fractal Alpha: Robust growth
Q2’27 Fractal Alpha: Robust growth; margin reflects Analytics Vidhya’s shift to enterprise clients and Asper momentum building into H2 All values in INR m, except % Revenue & Gross Margin Adjusted segment results 400 200% +40% (INR YoY) Q2'26 Q2'27 350 +32% (CC YoY) 340 150% 300 243 250 100% 200 62%
Slide 14: Balance sheet and Cashflow metrics
Fractal Group: Balance sheet and Cashflow metrics Cash flow from operations Days of sales outstanding (DSO) Cash and cash equivalents 76 17,277 71 18 19 6,078 4,067 3,678 58 52 11,199 7,947 1,074 793 LY CY Q2'26 Q2'27 Q2'26 Q2'27 Qtr TTM Billed Unbilled Cash and Cash equivalents IPO proceeds 13 Cash
Slide 15: Business Highlights
Business Highlights 14
Slide 16: Fractal Products: Annual run-rate of INR 150+ Crores
Fractal Products: Annual run-rate of INR 150+ Crores, up 39% YoY Q2’27 highlights INR 383m▲39% YoY An agentic AI platform that helps enterprises build and deploy AI Cogentiq Platform & Products agents to automate workflows, improve decision-making and Revenue from operations drive business outcomes
Slide 17: Partnerships: Gaining momentum in driving enterprise AI adoption
Partnerships: Gaining momentum in driving enterprise AI adoption Certifications Anthropic OpenAI Joint Preferred Services Partner Advanced 44 engagements TTM (Sep ’26) ~2000 Across 7 partner programs Claude Partner Network Partner as of Sep 30, 26 Google Cloud AWS Top collaborative deal wins in Q2 F
Slide 18: AI insight-to-concept platform for a global MedTech company
CASE STUDY AI insight-to-concept platform for a global MedTech company €6M in projected savings, and product concepts in 30 minutes The Challenge Reimagined with AI Turning consumer research New product concept into a product concept worth Sourced consumer insights research · social · reviews, cited
Slide 19: AI policy review for a global insurance broker
CASE STUDY AI policy review for a global insurance broker 60 days to 20 minutes, at a fourth of the cost The Challenge Reimagined with AI Checking every renewed Review renewed policy policy against last year’s took Ingest renewed + prior policy text extraction + page-level image analysis 60 days by
Slide 20: AI promotion planning for a global coffee company
CASE STUDY AI promotion planning for a global coffee company $4m in projected gross profit from the same promotion budget The Challenge Reimagined with AI The promotion budget was Promotion plan spread across weekly Model returns by promotion elasticity · cannibalization · channel discounts that ret
Slide 21: Financial Performance H1 FY27
Financial H1 FY27 Revenue ▲20% YoY Performance Net Income ▲114% YoY 20
Slide 22: H1'27 Fractal Group: Revenue of INR 1,869 Crs
H1’27 Fractal Group: Revenue of INR 1,869 Crs with 114% increase in Net Income from Revenue growth and operating leverage Growth Profitability Other highlights INR18,690m▲20% YoY, 10% CC YoY 1 45%▼101 bps YoY 6.5% Revenue from operations Gross Margin AI R&D investments4 117% 77 17%▲155 bps YoY (INR
Slide 23: H1'27 robust growth across most industries and geographies
H1’27 Fractal Group: We delivered robust growth across most industries and geographies Revenue by industry (H1’27) – Fractal Group Revenue by geography (H1’27) – Fractal Group YoY APAC & Others YoY 8.4% Others CPGR ▲14% 11.3% Americas ▲23% BFSI HLS ▲75% 13.2% CPGR Europe ▲22% 36.5% Europe TMT ▼ 20%
Slide 24: H1'27 Fractal.ai: existing clients continue to expand relationships
H1’27 Fractal.ai: Our existing clients continue to expand their relationships with us Net Revenue Retention (NRR) 4% 21% 0% 17% 117% H1’27 (INR) Existing clients New clients Churn Growth% Net Revenue Retention (NRR) in our Fractal.ai segment measures how effectively we retain and expand revenue from
Slide 25: Adjusted EBITDA expanded by 155 bps driven by operating leverage
Fractal Group: Adjusted EBITDA expanded by 155 bps driven by operating leverage; short-term impact in GM driven by investment in AI engineering talent H1’27 Gross Margin (INR Mn) H1’27 Adjusted EBITDA (INR Mn) 8,500 +17% YoY 8,375 3,500 +32% YoY 3,086 25.0% 54.0% 23.0% 8,000 3,000 2,332 52.0% 21.0%
Slide 26: H1'27 Fractal Alpha: Robust growth
H1’27 Fractal Alpha: Robust growth; margin reflects Analytics Vidhya’s shift to enterprise clients and Asper momentum building into H2 All values in INR m, except % Revenue & Gross Margin Adjusted segment results 700 300% +31% (INR YoY) H1'26 H1'27 600 +22% (CC YoY) 580 250% 200% 500 444 150% 400 10
Slide 27: Fractal Strategy
Fractal Strategy 26
Slide 28: Our strategy: How to win
Our strategy: How to win Accelerate this Help Must Win Partner with Continue to build journey with Accelerate our Clients (MWCs1) winning AI an AI-native Cogentiq and success through transform their platform “great place to other reusable M&A business with AI companies work” assets 27 1MWCs are defi
Slide 29: Help MWCs transform their business with AI
1 2 3 4 5 Help MWCs1 transform their business with AI Help CXOs reimagine every workflow and business process with AI Help CIOs and CAIOs build enterprise context and UK knowledge layer on their data US & Canada Europe Middle East Help CLOs and CHROs redesign work and upskill workforce with AI Austr
Slide 30: Accelerate client success with Cogentiq and reusable assets
1 2 3 4 5 Accelerate client success with Cogentiq and reusable assets Reimagine every delivery with PiEvolve and Cogentiq Commercialize functional and vertical AI products on Cogentiq Demonstrate frontier AI results PiEvolve, Vaidya & IndiaAI Mission 29
Slide 31: Partner with leading technology companies
1 2 3 4 5 Partner with leading technology companies Partners Build relationships with partner teams in our mutual A clients/customers and leverage partner resources to enhance client acquisition, expansion and lead generation Frontier AI Labs Incorporate existing partner offerings in our services an
Slide 32: Continue to build a Great Place to Work
1 2 3 4 5 Continue to build a Great Place to Work Hiring Principles Hire talent through robust & scalable channels Fractal First • Iqigai.ai: Our AI powered hiring Continuous learning and specialization All hires are for Fractal first, and assessment platform for our employees then for the specific
Slide 33: Complement our growth and expand capabilities inorganically
1 2 3 4 5 Complement our growth & expand capabilities inorganically Our acquisition principles CLIENT CENTRICITY Strengthen our client OPTIMIZE PROCESSES focus and our commitment to client De-risk the capital INTEGRATION centricity by allocation process and Collaborate with enhancing our existing OR
Slide 34: Capital structure: Strong balance sheet to fund future growth
Capital structure: Strong balance sheet to fund future growth INR 17,277m 62% Zero Cash and cash equivalents1 CFO as % of Adj. EBITDA2 Long term debt3 Positions us to move Strong cash conversion Creates significant faster, fund early-stage ensures self-funded headroom to fund bets, and accelerate gr
Slide 35: Fractal's ESG focus and milestones
Fractal’s ESG focus and milestones Environmental Sustainability Social Impact, Equity and Inclusion Key Governance Frameworks • Aiming for net zero emissions by or • Certified a Great Place to Work for 10 • Strong IT systems that follow global before 2040 years in India (and multiple years in UK, se
Slide 36: Awards and Recognition
Awards and Recognition 35
Slide 37: Industry Recognition
Industry Recognition Industry Recognition Leader KeyKeyVendor Vendor Market Overview for Analytics and Decision- Advanced Analytics & AI Making Platforms for Supply Chain 2026 – Services 2026 Gartner ISG: Three years in a row Market Overview for Retail Assortment Management Applications: Short Life
Slide 38: Industry Recognition
Industry Recognition Industry Recognition Global Industry Top 50 Best Workplaces Leading Mid-Corporates Excellence Awards 2026 for Women of India 2026 Staffing solution built on Iqigai.ai GPTW Dun and Bradstreet (D&B) 37
Slide 39: Annexure
Annexure 38
Slide 40: Fractal Group: Key financials
Fractal Group: Key financials All values in INR m, except % Particulars Q2 FY27 Q2 FY26 Growth H1 FY27 H1 FY26 Growth Revenue 9,565 7,985 20% 18,690 15,590 20% Cost of Solutions 5,360 4,295 25% 10,315 8,446 22% Gross Profit 4,205 3,690 14% 8,375 7,144 17% Gross Profit Margin 44.0% 46.2% -225bps 44.8
Slide 41: Fractal.ai: scaled client relationships with headroom for growth
Fractal.ai: Fractal has scaled client relationships with significant headroom for growth Clients by Annual Revenue Contribution (Fractal.ai) FY2023 FY2024 FY2025 FY2026 >$1m 45 48 53 59 of which, >$5m 10 11 15 19 of which, >$10m 5 5 6 9 of which, >$20m 1 2 5 6 40
Slide 42: Fractal Group (INR): Quarterly phasing
Fractal Group (INR): Quarterly phasing Q2’27 Gross Margin (INR Mn) +14% YoY, -225 bps ▼ Q2’27 Adjusted EBITDA (INR Mn) +30% YoY, +123 bps ▲ 4,800 80% 1,959 40% 4,274 4,170 4,205 2,000 4,300 4,031 3,690 1,549 35% 1,537 70% 3,800 3,454 1,521 1,500 30% 3,300 60% 1,137 1,195 2,800 25% 2,300 50% 1,000 20
Slide 43: Q2'27 Fractal Alpha (INR): Quarterly phasing
Q2’27 Fractal Alpha (INR): Quarterly phasing All values in INR m, except % Revenue & Gross Margin Adjusted segment results 450 160% 400 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 140% 350 340 120% 300 243 241 240 100% 250 (42) 216 201 80% 200 72% 75% 75% 60% 150 65% (84) 62% (85) 54% 100 40% (104) (111) 50
Slide 44: Q2'27 Net Income at INR 792m, 8.3% of revenue
Fractal Group: Q2’27 Net Income at INR 792m, 8.3% of revenue All values in INR m, except % INR 792m +139%, +413 bps 0.4% 8.3% 2.3% 0.1% 0.4% 0.6% 7.5% INR 332m -0.9% 3.5% 4.2% -2.3% Q2'26 Net Gross SG&A, R&D ESOP & One Depreciation & Tax Exceptional Net Operational PAT Other income income before Sha
Slide 45: H1'27 Net Income at INR 1,515m, 8.1% of revenue
Fractal Group: H1’27 Net Income at INR 1,515m, 8.1% of revenue All values in INR m, except % INR 1,515m +114%, +356 bps 0.4% 8.1% 0.2% 0.3% 1.3% 0.7% 7.4% INR 709m 2.6% -0.8% 4.5% -1.0% H1'26 Net Gross Margin SG&A, R&D ESOP & One Depreciation & Tax Exceptional Net Operational PAT Other income income
Slide 46: Shareholding
Shareholding Weighted avg. Cash inflow on Category Count strike price exercise (INR Mn) Outstanding shares 173,619,366 ESOP 2007 & 2019 11,751,128 481 5,653 MIP Time based 2,528,400 207 522 MIP Performance based 9,611,517 198 1,900 Fully diluted shares* 197,510,411 8,075 45 *Excludes reserved, not g
Slide 47: Thank you
Thank you For more details on our performance, prefer refer to the Shareholders’ letter and results at https://fractal.ai/investor-relations Investor Relations Contact Phone: +91 22 6850 5800 Email: [email protected] 46