Signpost India Ltd

Cessation of Independent Director

• Sayantika Mitra ceased as Independent Director after second term; ceased N&R Chair and Audit Committee, Aug 8, 2026.

Meeting Details

• Date: August 3, 2026; time and venue not disclosed.

Key Agenda Items

• Consider and approve unaudited standalone and consolidated financial results for quarter ended June 30, 2026.

Other Notes

• Trading window closed from June 1, 2026, until 48 hours after results announcement.

EGM resolutions

• EGM on Aug 5, 2026 via VC/OAVM to consider two special resolutions.
• Resolution 1: re-appoint Girish Kulkarni as Independent Director for 5 years from Aug 6, 2026; Kulkarni deemed interested.
• Resolution 1 terms: not liable to retire by rotation; Board to approve fees and execute documents.
• Resolution 2: re-appoint Prashant Sanghavi as Independent Director for 5 years from Aug 6, 2026; Sanghavi deemed interested.
• Resolution 2 terms: not liable to retire by rotation; Board to approve fees; Board/KMP to execute documents.
• Voting outcome not disclosed in filing.
• Impact: no material change to shareholding or control expected.
• Notes: remote e-voting Aug 2-4, 2026; VC/OAVM details and cut-off date provided.
• Explanatory statements confirm independence and qualifications of both directors.

Independent director re-appointments

• Re-appoint Girish Kulkarni as Non-Executive Independent Director for a second five-year term.
• Term effective Aug 6, 2026 to Aug 5, 2031 for Girish Kulkarni, subject to shareholder approval.
• Re-appoint Prashant Sanghavi as Non-Executive Independent Director for a second five-year term.
• Term effective Aug 6, 2026 to Aug 5, 2031 for Prashant Sanghavi, subject to shareholder approval.
• Independence confirmed under Companies Act Section 149 and Listing Regulations.
• Shareholder approval sought at the August 5, 2026 Extraordinary General Meeting.
• Board approved via circular resolution dated July 10, 2026.
• Regulation 30 disclosures enclosed as Annexure A.
• Neither director is related to other company directors.
• Neither director is debarred from holding office by SEBI or others.

Dematerialisation/rematerialisation status

• No processing details of dematerialisation/rematerialisation requests disclosed.

Certificate action

• Certificate issued under Regulation 74(5) for the quarter.

Publication

• Intimation is uploaded on the company website.

FY26 results

• Q4 FY26 revenue rose 46% year-on-year to ₹162 crore.
• Q4 FY26 operating EBITDA tripled to ₹42 crore; margin was 26.3%.
• Q4 FY26 net profit was ₹21 crore; EPS was ₹3.95.
• FY26 revenue grew 27% to ₹576 crore.
• FY26 operating EBITDA increased 65% to ₹147 crore; margin reached 25.5%.
• FY26 net profit more than doubled to ₹70 crore; EPS was ₹13.14.

Business and outlook

• Footprint expanded from four cities at listing to 32 cities.
• The company added nine cities and about 866,000 square feet in FY26.
• Anchor client contribution rose to around 29% of revenue.
• Around three-quarters of revenue is direct, with average contract tenure near 14 years.
• Management expects FY27 revenue growth in double digits and EBITDA margin of 25%-27%.
• Planned FY27 capex is ₹60 crore-₹75 crore for infrastructure and technology.
• Management targets a mid-term presence across 100 cities nationwide.

Q&A Highlights

• Analysts asked about receivables; management said milestone billing should improve cash cycles by Q3 FY27.
• Analysts asked about bill discounting; management said it would add cost and was not preferred.
• Analysts asked about gross margins; management said 7%-8% cost reduction is possible next year.
• Analysts asked about license fees; management said most contracts are minimum-guarantee, not revenue-share.
• Analysts asked about sector mix; management said PSU, FMCG, education, and BFSI are key contributors.
• Analysts asked about new projects; management said Kolkata may reach 60%-70% implementation by September-October.
• Analysts asked about Bangalore Metro; management said 18 to 25 stations are already generating revenue.
• Analysts asked about Mumbai bus shelters; management said 11% of the 20% refurbishment target is complete.

Industry and model

• Management said Signpost is an end-to-end out-of-home media platform.
• It operates transit media, digital out-of-home, and conventional static media.
• Management said India’s organized OOH market grew 13% in 2025 to ₹66.9 billion.
• Digital OOH revenue rose from ₹7 billion to ₹12.2 billion in 2025.
• Transit media grew 22% in 2025 to ₹20.2 billion.
• Captura is the company’s AI-powered media planning and CRM platform.

Business overview

• Signpost India is a DOOH and transit media company across 32+ Indian cities.
• It operates metro, bus shelter, airport, billboard and digital inventory through long-term contracts.

Operational highlights

• Added nine cities and over 866,000 square feet of premium media inventory in FY26.
• Expanded Bangalore Metro, Kolkata streetscape, and premium bus fleet networks.
• Active clients exceeded 1,700, with 66% of revenue from direct relationships.

Financial performance

• FY26 revenue rose 27% to ₹575.9 crore; Q4 revenue grew 46% to ₹161.9 crore.
• FY26 EBITDA increased 65% to ₹146.6 crore; margin expanded to 25.5%.
• FY26 PAT doubled to ₹70.2 crore; margin improved to 12.2%.
• Gross margin improved to 40.9% in FY26 from 39.0% last year.

Capital structure & liquidity

• CRISIL upgraded long-term rating to A- and short-term rating to A2+.
• Borrowings were ₹196.1 crore at FY26 end, with cash and equivalents of ₹20.1 crore.
• Management said over ₹45 crore of blocked deposits were released during the year.

Outlook

• Management guides FY27 revenue growth above 20% with EBITDA margins of 25% to 27%.
• Planned FY27 capex is ₹60–70 crore for infrastructure, capacity and technology.
• Strategy shifts toward yield optimisation, higher occupancy and direct corporate relationships.

Risks & mitigation

• Industry risks include fragmented approvals, measurement gaps and long gestation periods.
• Mitigants include long PPP relationships, Captura analytics, compliance record and stronger balance sheet.

Governance & leadership

• Shripad Ashtekar is Managing Director; Girish Kulkarni is Non-Executive Chairman and Independent Director.
• Nalin Kumar Somani is Chief Financial Officer; Kinjal Mistry is Company Secretary and Compliance Officer.

Meeting Details

• Board meeting scheduled for Saturday, May 30, 2026.

Key Agenda Items

• Approve audited standalone and consolidated financial results for quarter and year ended March 31, 2026.
• Consider recommendation of final dividend on equity shares for financial year ended March 31, 2026.

Other Notes

• Trading window closed from April 1, 2026 until 48 hours after results announcement.