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    Cash UR Drive Marketing Q4 FY26 earnings call

    CUDML
    Media, Entertainment & Publication·2 Jun 2026
    Management Summary

    CASHurDRIVE Marketing Limited reported a strong FY26, marked by significant revenue and profit growth, driven by improved operating efficiencies and strategic focus on profitable expansion. The company made key acquisitions in urban mobility and EV charging infrastructure, positioning itself for future growth. While cash flows were temporarily negative due to inventory advances, management expressed confidence in normalization and continued growth trajectory.

    Highlights

    5

    • Revenue from operations for FY26 increased by 33.98% year-on-year to INR 186.7 crores.

    • EBITDA grew by 59.2% to INR 33.56 crores in FY26, with EBITDA margin expanding by 285 basis points to 17.98%.

    • Net profit for FY26 stood at INR 29.4 crores, registering a growth of 64.98%, with net profit margin expanding to 15.28%.

    • Strategic acquisitions of 19% stake in Kolkata Call Taxi and 50% stake in CharjKaro Greentech Mobility Limited are expected to drive future growth and expand media inventory.

    • Secured a 10-year build-operate model on concession from Nagar Nigam Rishikesh for EV charging infrastructure and advertising rights, creating a long-duration asset.

    Concerns

    2

    • Cash flows from operations were negative in the current period due to INR 20 crores paid as advances for aggressively adding new exclusive media inventory, though management expects this to normalize.

    • The Everest Fleet case is still in arbitration, with no clear timeline for resolution.

    Key financials

    Metrics

    10

    Periods

    2

    H2 FY26

    5
    • Revenue from Operations
      ₹108.8 Cr
      YoY+43.7%
    • EBITDA
      ₹20.02 Cr
      YoY+86.1%
    • EBITDA Margin
      18.4%
    • Net Profit
      ₹18.5 Cr
      YoY+94.5%
    • Net Profit Margin
      16.3%

    FY26

    5
    • Revenue from Operations
      ₹186.7 Cr
      YoY+34.0%
    • EBITDA
      ₹33.56 Cr
      YoY+59.2%
    • EBITDA Margin
      18.0%
    • Net Profit
      ₹29.4 Cr
      YoY+65.0%
    • Net Profit Margin
      15.3%

    Capital allocation

    5
    high confidence
    CategoryHeadline
    Capex

    Capex disclosed

    Debt

    Debt disclosed

    M&A

    Kolkata Call Taxi

    acquisition · closed · Consideration ₹NaN (undisclosed)

    M&A

    CharjKaro Greentech Mobility Limited

    acquisition · closed · Consideration ₹NaN (undisclosed)

    Liquidity

    Liquidity disclosed

    Paid INR 20 crores as advances to suppliers for new inventory, leading to temporary negative cash flow.

    Guidance & targets

    6
    CategoryTargetPriority
    Exclusive Media Contribution
    Share of revenue from exclusive media
    50%
    		High
    Revenue Growth
    Overall revenue growth rate
    40%-50%
    		Medium
    Revenue Growth
    Overall revenue growth trajectory
    Similar to last 3 years
    		High
    Profitability
    EBITDA margin
    Improvement year-on-year
    		High
    Inventory Utilization
    Average utilization of inventory
    50-55%
    		High
    Working Capital Cycle
    Working capital cycle days
    100 days
    		High

    What to watch in Q1 FY27

    5

    Exclusive media contribution to revenue

    next quarter
    Current32% of revenue in FY26
    TargetProgress towards 50% in next 3 years

    Why it matters

    Increasing the share of higher-margin exclusive media is a key driver for profitability and overall business growth.

    So next three years the target is to achieve 50% equal contribution for exclusive as well as the trade media.

    Risks & concerns

    2
    RiskSeverity

    Everest Fleet arbitration case

    The Everest Fleet case is currently in arbitration, with no clear timeline for resolution, indicating a prolonged legal process. — Analyst acknowledged

    medium

    Negative cash flow from operations

    Cash flows were negative due to INR 20 crores paid as advances for new inventory, which management states is a 'one-time cycle' and will normalize as collections from clients come in. — Analyst downplayed

    low

    Q&A highlights

    6

    “Disha, there are two factors to it. One is the exclusive media which gives us the command in the industry where we can charge higher rates to the clients, which monopolizes the market. And second is the utilization of that media.”

    Clarifies the key drivers behind the significant margin expansion in H2 FY26 and provides confidence in its sustainability through exclusive media and better asset utilization.

    asked by Disha

    2 min read5 chapters

    Detailed Narrative

    01

    Strong Financial Performance in FY26

    CASHurDRIVE Marketing Limited delivered robust financial results for FY26, with revenue from operations increasing by 33.98% year-on-year to INR 186.7 crores. EBITDA grew significantly by 59.2% to INR 33.56 crores, leading to a 285 basis point expansion in EBITDA margin to 17.98%. Net profit also saw substantial growth of 64.98% to INR 29.4 crores, with net profit margin improving to 15.28% from 12.5% in the previous year. The second half of FY26 was particularly strong, demonstrating the scalability of the business model.

    02

    Strategic Expansion into Urban Mobility and EV Ecosystem

    The company made strategic moves to expand its presence beyond traditional transit media. This includes acquiring approximately 19% stake in Kolkata Call Taxi to strengthen its urban mobility ecosystem and a 50% stake in CharjKaro Greentech Mobility Limited to capitalize on the rapidly growing EV charging station market. Additionally, CASHurDRIVE secured a 10-year build-operate concession from Nagar Nigam Rishikesh for EV charging infrastructure and associated advertising rights, further diversifying its asset base.

    03

    Asset-Light Model Maintained Amidst New Ventures

    Management emphasized that its expansion into EV charging infrastructure remains consistent with its asset-light business model. The company's investments are primarily focused on advertising infrastructure, while partners like CharjKaro bear the capital expenditure for charging stations and vehicles. This approach allows CASHurDRIVE to leverage new growth opportunities without significant capital outlay, ensuring profitability and capital efficiency.

    04

    Focus on Exclusive Media and Utilization for Margin Growth

    A key driver for margin expansion in FY26 was the increased contribution from exclusive media, which rose from 19% to 32% of total revenue, amounting to approximately INR 60 crores. Management aims to further increase this to 50% within the next three years, as exclusive media offers roughly twice the margin of trade media. Improved utilization of existing media inventory, currently at 50-55%, also contributed to margin growth, with a target to maintain this utilization level next year.

    05

    Positive Growth Outlook and Working Capital Improvement

    CASHurDRIVE anticipates a continuous growth trajectory for FY27, similar to the strong performance of the last three years, with management agreeing that a 40-50% growth rate is a fair assumption for the next 2-3 years. The company is also focused on improving its working capital cycle, aiming to reduce it from the current 120-125 days to 100 days through CRM and reconciliation tools. While INR 20 crores in advances for new inventory temporarily impacted cash flow, this is expected to normalize📎.

    This is an AI-generated summary of a publicly available earnings call transcript.