Radiant Cash Management Services Ltd

Dividend entitlement

• Final dividend of ₹2.50 per equity share for FY 2025-26.
• Record Date fixed at 10 September 2026.
• Dividend payable on equity shares; subject to tax deduction at source.
• Payment to be made within statutory timelines on or after 25 September 2026.
• AGM on 16 September 2026 via VC/OAVM.

Financial Performance

• Standalone revenues grew 7% YoY; IDBI mandate drove growth.
• Consolidated quarterly revenue Rs 1.08 billion, up 5.8% YoY.
• Standalone EBITDA margin 13.5% in Q1 FY27; down from 15% prior quarter.
• Gross cash losses Rs 2.06 million; 0.0005% of cash handled.
• Cash handled Rs 0.43 trillion; up ~2.2% YoY.
• Direct clients revenue share 18.4% vs 14.3% YoY.
• Radiant Valuable Logistics revenue Rs 22.1 million; sequential growth 24%.
• Transaction volume Rs 170 crores in Q1 FY27.
• Soundbox deployments 58,000; BC network over 20,000.
• Order book coverage 60-70% of 50,000 Soundboxes planned.

Acemoney & Fintech Update

• Consolidated PAT Rs 52 million in Q1 FY27, down from Rs 57 million; Fintech losses reduced.
• Acemoney expected break-even in September; full-quarter profitability in Q3.
• PIDF subsidy discontinued Dec 2025; focus on Soundbox/QR, banks BC network; 50,000 Soundboxes target.
• Transaction volume Rs 170 crores in Q1 FY27.
• UPI MDR could uplift revenue for Acemoney and RCMS if implemented.
• RBI payment-aggregator license: Revised application filed; response by early 2027.

Balance Sheet & Cash Flow

• Total gross cash Rs 318 crores.
• Three FDs totaling Rs 64 crores; cash in fixed deposits.
• Cash used in cash-management ops Rs 196 crores.
• Free cash Rs 65 crores.

Projects & Capex

• Plan to deploy 50,000 Soundboxes in the current year.
• 60-70% of target 50k Soundboxes already in the order book.
• Hitachi white-label ATM deployment tie-up.
• RVL growth initiatives; EBITDA improvements expected from deployment.

Outlook & Guidance

• FY27 standalone EBITDA margin guidance 17-18%.
• FY28 topline growth expected mid-teens (12-13%); EBITDA margin 19-20%.
• MDR on UPI could boost unit economics; timing unclear.
• RBI license: application filed; license expected by early 2027.
• Board to consider buyback; discussion at next meeting.

Q&A Highlights

• Price revision negotiations with banks expected to complete in Q2 FY27; exact quantum not disclosed publicly.
• MDR on UPI discussed; impact contingent on policy implementation.
• Dividend buyback proposal discussed; board to consider.
• RBI license progress: queries addressed; response by next month; license by early 2027.
• Acemoney break-even and RVL turning EBITDA-positive; emphasis on growing direct-client share.

Parties and purpose

• Lender: Radiant Cash Management Services Limited.
• Borrower: Aceware Fintech Services Private Limited (subsidiary).
• Purpose: Renewal/rollover of inter-corporate loan to Aceware.

Key terms

• Aggregate outstanding loan cap up to ₹15,00,00,000.
• Interest rate: base rate plus 0.10%, not below prevailing govt yield.
• Tenure: 1 year from execution; repayable on demand; final settlement date.
• Security: unsecured loan; no collateral.
• No special rights: no director appointments or pre-emptive rights.

Related party status

• Related party: Yes; promoter group equity interests and nominee-director representation in the subsidiary.
• Arm's length: Yes; transaction at arm's length basis.

Impact & financials

• Renewal maintains intra-group financing; no change in ownership/control.
• Outstanding loan amount: ₹11,50,00,000; cap remains ₹15 crore.
• Partial repayments allowed; disbursements may continue within the cap.
• No change in sanctioned limit; renewal via fresh agreement.

Regulatory & disclosures

• Regulatory disclosure under LODR; information available on the company's website.
• No board or management changes arising from this renewal.
• Other disclosures: Nil.

Meeting Details

• Date of call: 18 August 2026.
• Type and mode: earnings conference call; audio recording.
• Event/organiser: Radiant Cash Management Services Limited.
• Key participants: Company Secretary.
• Purpose: discuss unaudited Q2 FY27 results.
• Recording available: audio recording uploaded on the company website.

Business overview

• Leading integrated cash logistics player with pan-India Tier 2/3+ focus.
• Standalone growth driven by IDBI mandate; RVL and Acemoney losses narrowing.
• Investments in digital tools and network expansion to support scaling.

Operational highlights

• Q1FY27: 14,997 pin codes, 77,014 touch points, 9,183 locations.
• 432 billion cash movement; 33 new end customers; cash vans contribute 15.8% of revenue.
• Tier 2/3+ share: 81.8% touch points, 83.4% revenues; 10,243 workforce.

Financial performance

• Standalone: Total Income ₹1,077 mn; EBITDA ₹145 mn; EBITDA margin 13.5%; PAT margin 7.5%.
• Consolidated: Revenues ₹1,057 mn; Total Income ₹1,082 mn; EBITDA ₹119 mn; PAT ₹52 mn.
• YoY revenue growth driven by new IDBI mandate; margins pressured by wage hikes and armed-guards costs.

Capital structure & liquidity

• No material debt change disclosed; liquidity implied by cash movements and asset base.
• Liabilities profile shows current and financial liabilities; no new financing details provided.

Strategic priorities & outlook

• Significant price revisions with customers expected to materialize this quarter.
• RVL to breakeven in the current quarter; Acemoney to EBITDA breakeven in Q3FY27.
• Ongoing tech enhancements: CPIN/OTP security, client view app, QR coding, API integrations.

Risks & governance

• Margin headwinds from wage increases and armed-guards shortages.
• Robust risk governance with experienced staff and clear escalation protocols.

Governance & leadership

• Board includes independent directors; long-tenure management team.
• Key executives: Col. Benz K. Jacob (Chairman/COO) and CFO T.V. Venkataramanan.

Meeting Details

• Earnings conference call scheduled for August 18, 2026 at 11:00 IST.
• Group earnings conference call, conducted virtually.
• Organised by Antique Stock Broking Limited.

Participants

• CMD (Managing Director) to participate.
• Whole-time Director to participate.
• CFO (Chief Financial Officer) to participate.
• COO (Chief Operating Officer) to participate.
• Director (Advisor) - Strategy and Investor Relations to participate.

Purpose

• Discuss un-audited Q2 FY27 results for quarter ended June 30, 2026.

Additional Notes

• Recording/transcript/presentation availability not stated.

Dematerialisation status

• Dematerialisation requests received in quarter ended 30 June 2026 were processed and confirmed to depositories.
• Securities dematerialised have been listed on the stock exchanges where the issuer's securities are listed.
• Physical certificates received for dematerialisation were mutilated and cancelled after verification; depository substituted as registered owner within timelines.