String Metaverse Ltd

Rights Issue funds and deviation status

• Mode of raising funds: Rights Issue.
• Date of raising funds: 05-05-2025.
• Amount raised: ₹4,925.15 lakhs.
• Quarter for reporting: Quarter ended 30 June 2026.
• Deviation in use of funds: No deviation observed.
• Monitoring agency: Not Applicable.
• Audit Committee commentary: No deviation in utilization.
• Utilisation status: No deviation; allocations adjusted within permissible limits.

Business Overview

• Core business: Web3/AI-enabled metaverse services; tokenizing bills on chain.
• Strategic initiative: Bills on Chain launched with Hedera.

Key Operational Highlights

• Launched Bills on Chain on Hedera platform.
• FY26: Revenue 392.42, EBITDA 43.85, PAT 36.92; YoY growth ~100%.
• Q1FY27 highlights: Revenue growth 392.42; Profit expansion 36.92; Operational efficiency 43.85.
• Rule of 40 at 105.6%.

Financial Performance

• Revenue 392.42; YoY growth 97.13%.
• EBITDA 43.85; PAT 36.92; YoY growth ~102%.

Strategic Priorities & Outlook

• Strategic catalyst: Bills on Chain with Hedera; tokenizing bills on-chain.
• Focus on Front-End user experience and Back-End AI/Web3 infrastructure.

Financial highlights

• Revenue for quarter ended June 30, 2026: ₹392.42 crore, up 97.13% YoY.
• PAT: ₹36.92 crore, up 101.8% YoY from ₹18.30 crore.

Strategic developments

• Launch of BillsOnChain with Hedera to on-chain invoices and records.
• Strategic focus on AI, blockchain, tokenization, and programmable financial infrastructure.
• Intends to continue investing in scalable platforms with profitable growth.

Management commentary

• MD emphasizes scaling technology businesses and investment in next-generation digital infrastructure.

Financial results

• Consolidated total income for quarter ended Jun 30, 2026: ₹39,242.30 lakh.
• Consolidated revenue from operations: ₹39,240.35 lakh; YoY growth ≈97%.
• Consolidated PBT: ₹3,689.53 lakh; profit after tax: ₹3,692.38 lakh.
• Standalone total income: ₹406.47 lakh; standalone profit after tax: ₹19.85 lakh.
• Gaming IT Services revenue: ₹39,091.19 lakh; HFT revenue: ₹149.16 lakh.
• Gaming IT Services segment PBT: ₹4,863.49 lakh; HFT segment loss: ₹480.03 lakh.
• Bonus issue of 2:9 completed on 22 June 2026; EPS restated.

Board approvals & outlook

• Approved fund raise up to ₹1,000 crore via equity and/or convertible securities.
• Fund raise subject to regulatory and shareholder approvals as required.
• Approved FY2025-26 Board Report and AGM notice.
• 32nd AGM scheduled for 25 Sept 2026 at 11:30 AM via VC/OAVM.
• Scrutinizer for remote e-voting: M/s. Balaramakrishna & Associates.

Business & subsidiaries

• Company operates in gaming software development and services and HFT revenue.
• Consolidated results include four Indian subsidiaries and five foreign subsidiaries.
• Notes confirm group comprises domestic and international subsidiaries listed in notes.

Dematerialisation processing and listing confirmation

• Dematerialisation requests were confirmed to depositories (accepted/rejected) for the reporting quarter.
• Dematerialised securities are listed on the exchanges where the existing securities are listed.
• Physical certificates were mutilated and cancelled after verification, with the depository's name substituted as owner.
• Substitution of the depository as registered owner occurred within prescribed timelines.

Overview

• BillsOnChain beta launched on Hedera to tokenize receipts and enable invoice financing.

Momentum

• Over 31,000 wallet-enabled Hedera users.
• 830,000 receipts recorded on-chain.
• 430,000 NFTs minted representing tokenized billing assets.

Strategic collaboration

• First major commercial outcome of String Metaverse and The Hashgraph Group collaboration.

Platform capabilities

• Platform enables tokenized invoices, immutable receipts, automated workflows, and cross-border billing.

Outlook

• Envisions programmable financial services and increased liquidity through on-chain billing.

BillsOnChain beta launch

• Launch of BillsOnChain beta version on the Hedera network, in strategic collaboration with The Hashgraph Group AG.
• BillsOnChain is a blockchain- and AI-enabled platform for digital receipts, invoices, and bills.
• Platform supports on-chain recording, tokenized billing records, automated reconciliation, and duplicate-invoice detection.
• Also includes AP/AR workflows, analytics, and compliance controls.
• Beta launch announced; no commercial rollout details disclosed.