Veefin Solutions Ltd

Partnership scope

• Strategic partnership to deploy SCF across five West African markets.

Platform and offering

• Platform will connect anchor corporates with supplier and buyer networks on a single digital platform.

Deployment and license

• Veefin provides platform license and ongoing maintenance.

Outlook and go-live

• Go-live expected progressively across the five banks with expanded product offerings.

SME financing impact

• Aims to address the West Africa SME financing gap through digital, scalable SCF.

Business Overview

• Multi-product BFSI technology platform built on Veefin 4.0 architecture.
• Standalone entity focuses on product economics; consolidated results reflect broader group perimeter.
• Amalgamation into a single listed perimeter progressing; approvals secured; NCLT petition filed.
• Flagship Q1 FY27 wins indicate multi-product, multi-country platform traction.

Operational Highlights

• Standalone Q1 FY27 revenue ₹23.14 Cr; EBITDA ₹12.83 Cr; PAT ₹6.74 Cr.
• Consolidated Q1 FY27 revenue ₹113.97 Cr; EBITDA ₹22.42 Cr; PAT ₹9.50 Cr.
• Qualified pipeline at USD 80.13 Mn; opening USD 79.62 Mn.
• 52 banks in sales pipeline; 26/52 evaluating more than one Veefin product.
• PSB Xchange: operating base expanding across lenders and partners.
• Amalgamation progress to improve investor reporting clarity.

Financial Performance

• Consolidated revenue ₹114.59 Cr; QoQ decline of 16.1%.
• Consolidated EBITDA ₹22.42 Cr; EBITDA margin 19.7%.
• PAT ₹9.50 Cr; PAT margin 8.3%.
• Standalone revenue ₹24.71 Cr; PAT ₹6.74 Cr; PAT margin 29.1%.
• Standalone EBITDA ₹12.83 Cr; EBITDA margin 55.4%.

Capital & Governance

• Amalgamation: stakeholder approvals secured; scheme moves to NCLT petition filing.
• One listed product-company perimeter and consolidated perimeter alignment.
• Q1 FY27 wins and pipeline movements indicate broader platform adoption.

Strategic Outlook

• FY27 priorities: monetize broader platform while preserving standalone economics.
• Complete simplification; advance amalgamation steps; improve investor reporting clarity.
• International pipeline expansion across Southeast Asia, Middle East, Africa.
• Growth model: cross-sell, platform monetization, high recurring revenue.

Risks & Mitigation

• Revenue realization lags signings by about 21 months; timing risk.
• Deferrals and timing in the pipeline; ongoing monitoring of conversion.
• Operational ramp of PSB Xchange; scaling lender connectivity and corporate activity.

Financial results and disclosures

• Board approved unaudited standalone and consolidated results for quarter ended June 30, 2026.
• Limited Review Reports issued by ADV & Associates for both standalone and consolidated results.
• Results to be published as QR in newspapers and on stock exchanges and company website.
• Auditor review concluded no material misstatement.
• Regulatory disclosure under SEBI LODR Regulation 33.

Encumbrance details

• Target company: Veefin Solutions Limited.
• Encumbrance type: Creation of pledge on promoter shares.
• Total encumbered shares: 83,75,570 (31.43% of total share capital).
• Promoters involved: Gautam Udani and Raja Debnath.
• Encumbered promoter shares: Udani 13,25,996; Debnath 70,49,574.
• Post-encumbrance promoter holdings: Udani 15,40,060; Debnath 78,42,285.
• Trustee: Axis Trustee Services Limited; Lender: Strides Ventures Debt Fund 4.
• End use of funds: Working capital / general corporate purposes / debt refinancing.
• Amount involved: INR 115 crore.
• Date of encumbrance creation: 07 August 2026.
• Promoter total holding: 88,69,525 shares (34.73% of total share capital).
• Udani encumbered holding: 4.98% of his promoter holding.
• Debnath encumbered holding: 79.48% of his promoter holding.
• Total promoter encumbrance: 94.43% of promoter holdings.
• Total encumbrance as % of total share capital: 31.43%.

Meeting Details

• Date/time: Thursday, August 13, 2026 at 02:00 PM IST.
• Mode: Virtual earnings conference call.
• Audience: All investors/general public.
• Organizer: Valorem Advisors hosting Q1-FY27 earnings call.

Participants

• Chairperson/MD, Whole-Time Director/COO, and CFO to participate.

Purpose

• Purpose: Discuss Veefin's Q1-FY27 earnings.

Additional Notes

• Recording/transcript availability not specified.

Encumbrance on promoter shares

• Disclosure concerns creation/extension of pledge on Veefin Solutions shares by promoters Gautam Udani and Raja Debnath.

Announcement

• On July 28, 2026, PSB Xchange signs agreement to onboard PNB as lending partner.

Platform impact

• Onboarding strengthens lender ecosystem by adding one of India's largest Public Sector Banks.

Capabilities & process

• Platform enables digital onboarding, credit assessment, and financing via standardized processes.

Outlook

• Platform will onboard additional institutions to expand working capital access.

Stakeholders

• PNB, PSB Alliance, and Veefin involved in the collaboration.

Purpose of Meeting

• Amalgamation by absorption of GlobeTF Solutions Limited and Estorifi Solutions Limited into Veefin Solutions Limited.

Key Resolutions

• Approve the Scheme of Amalgamation, subject to NCLT sanction and other regulatory approvals.

Voting Outcome

• Total votes polled: 11,421,322 with all in favour and none against.
• Promoter group: 8,869,525 in favour; 0 against (100%).
• Public institutions: 213,800 in favour; 0 against; 23.42% turnout.
• Public non-institutions: 2,337,997 in favour; 0 against; 14.84% turnout.

Shareholder/Creditor Impact

• Amalgamation into Veefin Solutions; exchange ratio not disclosed; awaiting Tribunal sanction.

Next Steps

• NCLT Mumbai sanction and other approvals required; timeline for effectiveness not disclosed.