Slides
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INVESTOR PRESENTATION Q2 FY27 5PAISA CAPITAL QUARTER ENDED SEPTEMBER 30TH, 2026
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Table of content 01 • Key Highlights of Q2 FY27 • Our Journey & Focus • 5paisa Digital Wealth Ecosystem Q2 FY27 Highlights & Digital Wealth Platform 02 • Consistent Surge in Participation • Ownership for DIIs & Retail on the Rise • Impact of regulatory Changes Industry Outlook 03 • Key Business Numbers • Net-worth, Margins & MTF • Consolidated Financial Performance Financial Information 04 • Environmental, Social & Governance (ESG) • Events & Employee Engagements • Board of Directors & Core Management Team About Us 5paisa
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Q2 FY27 HIGHLIGHTS & DIGIT AL WEAL TH PLATFORM 5PAISA CAPIT AL
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Key highlights – Q2 FY27 vs. Q1 FY27 CUSTOMER Customer base 53.4 Lakh ▲ +2% QoQ Customer acquisition 81.6K App users 24.1 Mn ▲ +1% QoQ FINANCIALS Revenue ₹865 Mn Broking income ₹349 Mn Profit after tax ₹71 Mn BUSINESS Avg Daily Turnover (Notional) ₹2.59 Tn Mutual Fund AUM ₹2,095 Cr Avg Client Funding Book ₹4,811 Mn Q1 FY27 HIGHLIGHTS ▼ -15% QoQ ▲ +19% QoQ ▲ +2% QoQ▼ -11% QoQ▲ +10% QoQ ▼ -2% QoQ ▼ -39% QoQ 5paisa
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2018-19 ECOSYSTEM BUILDING • Product Market Fit: Reached 1 lakh customers • Investor Confidence: $13M (₹101 Cr) capital raised through Rights Issue 2020-21 PROFITABLE GROWTH • Crossed 10 lakh customer base • Achieved positive unit economics 2024-25 SCALE UP • ADTO reached all- time high ₹3.8 Tn+ • Clocked highest ever Revenue ₹394 Cr • Highest ever PAT ₹68 Cr 2025-26 NEW FRONTIERS • Crossed customer base of 5 Mn+ • Enhanced product suite with new launches – Pay Later, Scalper , MCP , MF Dashboard & ETF revamp 2026-27 NEXT GROWTH PHASE • Investor Confidence – Raised capital of ₹469 Cr through Rights Issue • Launched new app with faster , smoother, low latency & AI powered experience • Trendlyne acquisition to offer AI-powered research, curated stock baskets, F&O insights, portfolio analytics, and smart recommendations Our Journey so far OUR JOURNEY 5paisa
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Maximizing Client Value at Every Touchpoint • Scaled Digital Onboarding • Acquired 1 Mn Clients • Launched A Dedicated Platform FNO360 Hyper Acquisition Engine 2023 • Launched Web Trade Station 2.0, • Launched Xtreme Api • Advanced Trading-view Charts To Enhance Trading Capabilities Monetization Flywheel 2024 • Improved The Overall App Stability For Optimal Performance • Expansion Of Partner Model • Feature Addition To Fno360 To Provide More Data Insights Tech Ecosystem & Distribution Scale 2025 • Optimize Existing Tech Stack To Enhance Performance, Scalability, And Reliability • Launched Xstream API GPT , MCP . And Scalper Terminal. • Strengthen Pay Later Offering. Product & Tech Acceleration 2026 • New App Launch • Drive Strong Brand Positioning • Accelerate Organic Growth Through • Elevate App Experience With Improved • AI Driven transformation • Launched Algo Space Experience led-growth 2027 Five year key focus areas OUR FOCUS 5paisa
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Amplifies trading (pay later) Smart leverage solutions for higher buying power like MTF, BTST, CUSPA Scalper High frequency trading through 3 in one chart visibility Market analytics Order flow, unusual volumes, OI analysis, volatility scanners Advanced orders VTT, order slicing, basket orders, quick response, bulk orders Trading Portfolio tools Track ,analyse, and optimize your investments in real time Diversified solutions Build long term wealth through mutual funds, SIPs Primary & second market access Access to IPOs, NFOs, & ETFs Investing AlgoSpace Pre -built strategies with one click execution Pro grade infrastructure Co-location facility, XTS, APIs access, AI chat assistant for developers Open APIs (Xstream) Zero cost trading & market data gateway for algos, prop desk & fintechs Dedicated FnO platform Built for traders; powered by speed, strategy & insight Platforms Partnership offerings Smallcase, Cleartax, Marketsmith, Intraedge, vested, etc. FinSchool A comprehensive knowledge platform for financial learning Seamless customer support Delivering fast & reliable assistance for hassle free experience Value add Multi-platform experience Seamless trading designed across platforms – mobile apps, web, EXE, XTS, APIs Empowering every Indian to build wealth with our, full-stack digital wealth management platform. 5paisa at glance DIGITAL WEALTH ECOSYSTEM 5paisa
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Better trading decisions AI Native app Pro level tools Clean Interface Faster execution New App rebuilt for Speed, Simplicity & Scale NEW APP
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INVEST Direct MFs, SIPs from ₹500 Start investing in Direct Mutual Funds from as little as ₹500. Set up SIPs in a few taps, choose the frequency, and track from one dedicated dashboard. OPTIONS Advance Strategy Builder Create complex option strategies directly from the Option Chain. See max profit, max loss, probability of profit and payoff chart before placing the order. MARGIN Unified Pledge Equity, MFs, ETFs Unlock trading margin across eligible assets through one unified pledge journey. Filter assets, pledge or unpledge in a single flow. SPEED Flash Trade — 1 tap orders No order forms, no extra steps — just tap to Buy or Sell. Built for scalpers and active traders who know that in fast markets, every second counts. CHARTS Trade from Charts Analyze price action, pull up the full option chain, and fire your trade — all from a single, uninterrupted chart screen. AUTOMATION Smart Orders for Entry, SL & TP Define your entry, stop-loss, and profit target in one go before you even place the trade. The app monitors the market and executes automatically. PAYOUTS Instant Withdrawal up to ₹2L Submit a withdrawal request and your funds hit your bank account almost immediately. No waiting until next day your money moves as fast as your trades WATCHLISTS Track 2,500 stocks, 10 watchlists Create up to 10 fully personalized watchlists and track stocks, ETFs, and F&O instruments with real-time prices, mini charts, and corporate action alerts. Heavily customizations to align to your needs. Everything you need to trade and invest NEW APP
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Speed, precision & edge — the complete trading and derivatives ecosystem Scalper 3-in-1 charts, ultra-fast execution VTT Validity-till-triggered orders Basket Orders Multiple orders in one click Quick Reverse Flip a position instantly Market Analytics OI, volumes & volatility scans Pay Later (MTF) 4x leverage · 1,500+ stocks Strategy Analyzer Payoff, Greeks & 50+ scanners Alpha Scan Real-time FnO signal detection Option Chain Positions Live strike-wise mapping Position Grouping Grouped by underlying & expiry Xstream AI Code, debug & API support Open APIs (Xstream) Zero-cost data gateway Screenshot 1 Scalper / FnO360 Screenshot 2 Option Chain / Strategy Builder Dedicated FnO Platform · Co-location · XTS APIs · AI Chat Assistant · Pro-grade Infra Built for the Serious Trader T+5 2x Leverage on Non-MTF Stocks AlgoSpace Readymade Algo strategies Bulk Orders Execute large order sets at once TRADING 5paisa
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Embedding intelligence across products, platforms and the way we operate Smarter Investing AI-guided research & decisions Sharper Trading Intelligent signals & strategy AI-Native Platform Across App, Web & Algo AI Insights & Research On-demand research on fundamentals, technicals, OI & price trends Conversational Advisory Natural-language discovery across thousands of investment options Options Intelligence Contextual OI, PCR, IV skew & max- pain analytics on the option chain Portfolio Intelligence AI health score, diversification insights & rebalancing guidance AI Chart Analysis Pattern, formation & indicator detection directly from charts Strategy Builder AI-assisted options strategies with payoff, Greeks & backtesting Signal Generation AI-surfaced research calls with entry, target & risk parameters AI-Powered Algos Smart strategy generation with automated risk & hedging logic Thematic Baskets AI-curated baskets with backtested returns & smart rebalancing A dedicated AI charter spanning product, engineering and operations — with deep investment in talent and strategic partnerships AI INVESTING AI at the Core of Everything We Build Home Stocks AI Option Chain Stock View
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Equity Algo Automated cash-market strategies Option Algo Options automation Futures Algo Systematic futures execution Simple, automated Algo trading solutions for every Indian trader. Strategy Marketplace No Coding Required Pick, set capital, deploy Simple subscription Auto-debited from ledgerCurated ready to use strategies Algo Trading for Everyone — simple, accessible and powerful ALGO BY ASSET CLASS Battle-Tested Algos Seamless Execution Real-time execution & monitoring Insights & Controls Back testing, analytics & visibilityPre-built for Indian markets WHY ALGOSPACE AlgoSpace by 5paisa ALGOSPACE 5paisa
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INDUSTRY OUTLOOK
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114 151 192 224 241 FY23 FY24 FY25 FY26 H1FY27 • 17 Mn demat accounts have been opened in H1 FY27 • A wave of large and highly anticipated IPOs encouraged investors to open demat accounts to participate in primary market opportunities • N umber of NSE Active clients has remained flat • Active NSE clients has decreased slightly to 46.1 million as on Sept 2026 Active Clients (in Mn) 31.9 40.8 49.2 45.7 46.1 FY23 FY24 FY25 FY26 H1 FY27 Derivative ADTO - Notional (in ₹ Tn) 154 360 429 449 440 FY23 FY24 FY25 FY26 H1 FY27 • Derivative Average Daily Turnover (ADTO) has remained flat Demat Accounts Base (in Mn) PARTICIPATION INDUSTRY Consistent surge in participation- Industry trend 5paisa
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170 24 -121 171 0 -166 2020 2021 2022 2023 2024 2025 2026 Market cap (₹ lakh crore) • Individual investors’ direct holding in NSE listed companies grew marginally from 9.1% to 9.5% in the last quarter • Even as FII contribution for inflow drops, DIIs continue to invest heavily in the Indian market Ownership trend in NSE listed universe (in %) Net Inflows (in ₹ ‘000 Cr)1 50.7 49.9 51.4 50.1 50.0 50.2 19.2 19.1 17.9 17.5 17.0 15.1 13.7 17.1 16.5 18.2 18.4 19.5 9.7 9.4 9.5 9.5 9.1 9.5 6.7 4.5 4.7 4.7 5.5 5.7 FY22 FY23 FY24 FY25 FY26 Q1FY27 Promoters FIIs DIIs Ind. investors Others 409 469 261 254 382 409 -36 95 276 181 527 788 564 2020 2021 2022 2023 2024 2025 2026 143 88 5 166 -6 49 2021 2022 2023 2024 2025 2026 FIIs DIIs Individual investors Source - NSE India Ownership Report Q1 FY27 Source - NSE Market Pulse September OWNERSHI P - INDUSTRY Ownership for DIIS & retail on the rise -224 1) Net flow are represented as of 31st August, 2026 Calendar year 5paisa
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Transaction Income Elimination Weekly Expiry Limitation Lot Size Revision Nifty Correction Turnover and Index Improvement Geopolitical Issue 352 364 450 460 483 485 445 453 497 497 501 537 519 467 299 298 288 352 368 348 346 381 415 436 532 481 472 592 514 516 486 486 492 446 347 390 16,000 18,000 20,000 22,000 24,000 26,000 28,000 - 100 200 300 400 500 600 700 Exchange F&O (Notional ADTO - In Tr) Nifty 50 Index • • REGULATORY IMPACT Impact of regulatory changes on industry CAS Implementation 5paisa
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FINANCIALS
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0.80 0.95 0.78 1.03 0.74 0.82 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Client Acquisition (In Lakhs) Total Client Acquisition: 0.82 lakh for Q2FY27 (Up 10% Q-o-Q) 2.25 2.68 3.31 3.40 3.04 2.59 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Avg. Daily Turnover – Total (In ₹ Tn)2 ADTO: ₹ 2.59 Tn for Q2FY27 (Down 15% Q-o-Q) 21.9 21.1 22.2 26.3 25.1 20.9 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Total Orders (in Mn) Total Orders: 20.9 Mn for Q2FY27 (Down 17% Q-o-Q) 85.5% 90.5% 94.6% 96.6% 96.8% 95.4% Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 DIY (in %age)1 DIY Acquisition: 95.4% for Q2FY27 (Down 1% Q-o-Q) 1. DIY: Clients onboarded through digital platform without any intervention or any assistance 2. ADTO includes turnover in cash and futures, and notional turnover in options Business Business metrics 5paisa
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Avg MTF Book Size (in ₹ Mn) MTF Book Segmentation Per Client Exposure (In ₹) 3,359 3,666 4,053 4,811 Q3FY26 Q4FY26 Q1FY27 Q2FY27 2,20,089 2,21,256 2,78,600 3,01,268 Q3FY26 Q4FY26 Q1FY27 Q2FY27 (% age of client using the facility) 77.5% 77.3% 70.7% 73.4% 13.6% 13.9% 18.7% 15.4% 9.0% 8.9% 10.6% 10.6% Q3FY26 Q4FY26 Q1FY27 Q2FY27 Less than 1L 1L to 5L More Than 5L MTF MTF spread over wide customer base 5paisa
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151 187 167 177 123 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 20% 24% 20% 20% 14% 45% 47% 49% 45% 40% 25% 25% 24% 24% 28% 30% 28% 27% 31% 32% Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Broking Allied Other Revenue (in ₹ Mn) Gross Revenue & Revenue Mix E B DTA – ₹ 123 Mn for Q2FY27 (Down 31% on Q-o-Q) 95 123 108 116 71 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Profit After Tax – ₹ 71 Mn for Q2FY27 (Down 39% Q-o-Q) Profit after Tax (In ₹ Mn)EBDTA (In ₹ Mn) & EBDTA Margin (%) EBTDA (in ₹ Mn) EBTDA Margin % PAT (in ₹ Mn) QoQ growth % Revenue – ₹ 865 Mn for Q2FY27 (Down 2% Q-o-Q) 884 865 773 793 855 Financials Consolidated financial performance 5paisa
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INR Millions Quarter Ended Half Year Ended Year Ended Quarterly Variances Half Yearly Variances Q2FY27 Q1FY27 Q2FY26 H1FY27 H1FY26 FY26 Q-o-Q Y-o-Y Y-o-Y A. Income From Operations Brokerage Income 349.08 394.00 347.77 743.08 703.77 1,492.30 -11% 0% 6% Allied Broking Income 243.75 216.30 195.69 460.05 375.69 783.30 13% 25% 22% Other Operating Income 271.79 274.16 229.55 545.95 471.55 923.30 -1% 18% 16% Total Income from operations (A) 864.62 884.46 773.01 1,749.08 1,551.01 3,198.90 -2% 12% 13% Employee benefits expenses 220.46 221.00 205.10 441.46 409.10 886.20 0% 7% 8% Depreciation,amortisation & impairment 29.08 22.10 23.80 51.18 48.80 92.20 32% 22% 5% Finance cost 94.50 84.50 79.70 179.00 152.70 325.30 12% 19% 17% Others Expense 425.96 401.72 336.00 827.68 657.00 1,303.31 6% 27% 26% Total Expenses (B) 770.00 729.32 644.60 1,499.32 1,267.60 2,606.01 6% 19% 18% PBT 94.62 155.14 128.41 249.76 283.41 592.89 -39% -26% -12% Tax expense 24.00 38.80 32.60 62.80 72.60 151.10 -38% -26% -13% PAT 70.62 116.34 95.81 186.96 210.81 441.79 -39% -26% -11% PAT margin % 8% 13% 12% 11% 14% 14% -38% -34% -21% Other Comprehensive income * (0.77) (1.38) 0.46 (2.15) 0.46 1.46 -44% - - Total Comprehensive Income for the Period 69.85 114.96 96.27 184.81 211.27 443.25 -39% -27% -13% Earnings Per Equity Share (EPS) Basic (In ₹) 1.55 2.60 3.04 4.08 6.73 14.14 -41% -49% -39% Diluted (In ₹) 1.54 2.60 3.03 4.07 6.72 14.13 -41% -49% -39% FINANCIALS Consolidated P&L – Q2FY27 *In Q1 FY27, ₹67.9 mn of employee benefit expenses and ₹4.3 mn of other expenses, and in Q2 FY27, ₹58.8 mn of employee benefit expenses and ₹3.9 mn of other expenses, were capitalized towards internally developed software and other intangible assets, primarily related to new app development 5paisa
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INR Million Sep 30, 2026 Mar 31, 2026 A. Financial Assets Cash and cash equivalents 93.71 372.72 Bank balance other than above 14,536.83 13,804.42 Receivables 0.07 1.94 Loans 5,060.35 3,403.66 Investments 431.92 21.80 Other financial assets 997.52 1,107.92 Sub total 21,120.40 18,712.46 B. Non-Financial Assets Deferred tax assets (net) 77.09 74.52 Property, plant and equipment 51.79 40.39 Other intangible assets 146.05 23.06 Right of use assets 135.16 112.44 Other non-financial assets 211.89 108.38 Sub total 621.98 358.79 Total Assets 21,742.38 19,071.25 A. Financial Liabilities Payables 428.10 569.34 Debt securities 1,083.41 742.39 Borrowings (other than debt securities) 2,137.30 3,043.21 Other financial liabilities 6,648.40 8,150.41 Sub total 10,297.21 12,505.35 B. Non-Financial Liabilities Current tax liabilities 45.62 26.24 Provisions 5.88 16.40 Other non-financial liabilities 31.44 31.02 Sub total 82.94 73.66 C. Equity Equity share capital 468.82 312.55 Other equity 10,893.41 6,179.69 Sub total 11,362.23 6,492.24 Total Liabilities and Equity 21,742.38 19,071.25 FINANCIALS Consolidated Balance Sheet – As at Sep 30, 2026 5paisa 5paisa
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ABOUT US
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Environmental, social & governance (ESG) • Defense in Depth Security approach to safeguard information • A comprehensive Cyber Security & Cyber Resilience framework imbibing Industry best practices to cover all aspects of prevention • Highly secured information systems with adequate controls in place • Organization is ISO 27001:2013 Certified INFORMATION AND CYBER SECURITY • 100% digital onboarding process & treatment of e- waste in environment friendly manner • Promote Tree plantation at all our premises & spread awareness to “Save water” among all employees • Drive digitalization & promote electronically documentation ENVIRONMENT AL FOOTPRINT • Smooth whistle blower policy adopted • Experience and diverse Independent board of directors' structure • Comply all SEBI/exchanges and other regulatory compliances • Updating investors for all business decisions/actions through various modes on time CORPORATE GOVERNANCE • Adopt all employee's welfare schemes (Gratuity, PF , Medical insurance etc.) • Maintain gender diverse workplace with equal opportunities • Policies of Code of Conduct & business ethics, prevention of Insider trading, Anti money laundering, Prevention of Sexual Harassment (PoSH) at workplace HUMAN CAPIT AL ESG 5paisa
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Business Partner & Client Engagements Brand Awareness Events B2B & B2C Conventions: Conducted B2B events with existing and new business partners and B2C events with retail investors, strengthening relationships and opening new avenues for partner-led and direct growth. GFF & MoneyExpo: Participated in Global Fintech Fest and MoneyExpo, showcasing our platform to industry leaders and investors and strengthening 5paisa's brand visibility. EVENTS Events & business partner engagements 5paisa
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Independent Directors Core Management Team Proven Market Leadership Trusted brand with proven track record Strong omni-channel presence Deep market understanding & execution expertise Independent Board Industry Experienced Senior Management Emphasis on new Talent Development Mr. Zor Independent Director Dr. Archana Hingorani Chairperson & Independent Director Ms. Nirali Sanghi Independent Director Mr. Gaurav Seth Managing Director & CEO Mr. Gourav Munjal Whole-Time Director & CFO Mr. Milin Mehta Independent Director Dr. Sarat Kumar Malik Independent Director Mr. Mehul Jain Head of Trading Products Mr. Lalit Lathe Head of Operations Mr. Mandar Chavan Head of Risk Management Ms. Rajeshree Jadhav Head of Digital Sales Mr. Dhruv Kapadia Head of Customer Service Mr. Dinesh Singh Head of Design Ms. Geetha Menon Head of HR MANAGEMENT TEAM Board of directors & core management team 5paisa
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This presentation and the accompanying slides (the “Presentation”), which have been prepared by 5paisa Capital Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the broking industry in India, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party statements and projections. Disclaimer 5paisa
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THANK YOU