AFFLE

Affle 3i share price & financials

Price
₹1,463.7
Market cap
₹24.0k Cr
Sector
Information Technology
Calls analysed
7
Latest concall · Q1 FY27 · call held 10 Aug 2026

Affle 3i Q1 FY27

Revenue from Operations 7.47 billion +20%EBITDA 1.68 billion +20%EBITDA Margin 22.4% Profit After Tax 1.28 billion +22%

What went well

  • Achieved 14th consecutive quarter of sequential top-line growth.
  • Recorded highest ever quarterly revenue (INR 7.47 billion), EBITDA (INR 1.68 billion), and PAT (INR 1.28 billion).
  • Revenue grew 20.4% y-o-y to INR 7.47 billion, with PAT growing 21.7% y-o-y to INR 1.28 billion.

What to watch

  • Certain customer segments like RMG and FinTech experienced negative impact due to regulatory and macroeconomic headwinds.
  • OCF to EBITDA conversion was relatively weak at 41% in Q1 FY27, though expected to normalize to 80-85% by Q3 FY27.
Read the full call →

What Affle 3i does

Affle 3i operates a global "Consumer Platform" that uses AI/ML and a proprietary Data Management Platform to deliver personalised mobile advertising recommendations and conversions for brands, spanning mobile in-app, connected TV (CTV) and digital out-of-home (DOoH) touchpoints. It earns through its Cost-Per-Converted-User (CPCU) model, charging advertisers for measurable outcomes (new-user acquisition, repeat-user engagement, or online-to-offline footfall) rather than raw impressions. The platform integrates directly with advertisers' first-party data and includes in-house ad-fraud detection technology (mFaas) to distinguish human from non-human traffic. Affle serves direct advertisers across verticalized industry categories such as e-commerce, fintech, gaming, foodtech, edtech, FMCG and healthtech through multiple platform brands under its unified CPCU model.

Segments

  • India & Emerging Markets
  • Developed Markets
Connected devices reached
4 billion+
Countries where ads are served
130+
Patent portfolio
39 unique patents (18 granted, 21 filed & pending)
Industry verticals served
12 (E-commerce, Fintech, Entertainment, Foodtech, Edtech, FMCG, Gaming, Healthtech, Groceries, Hospitality & Travel, Government, Home & Other Utilities)
Technology and data platform/operations professionals
370+ (183 technology, 187 data platform & operations)
Global accreditations
Data Protection Trustmark (DPTM) certified; ISO 27001:2022 certified
Founded 1994Headquarters New Delhi (registered office) / Gurugram, Haryana (corporate office), India Company website

Guidance record · Q1 FY27

what the last two calls moved 17 tracked 4 delivered 2 missed 11 open
  • Annual Revenue Growth FY25 delivered said Q2 FY25 Promised: 20%+ Q1 FY27: Target period FY25 is complete. Promise was achieved.
  • Human Resource Cost Increase went quiet said Q4 FY25 Promised: No steep increase Q1 FY27: Target period FY26 is complete. Promise was not verified due to lack of data.
  • M&A Activity delayed said Q3 FY26 Promised: 1 meaningfully sized transaction in 2026 Q1 FY27: Management is making strong progress and is in the due diligence phase, but now aims to close the larger M&A by early 2027, pushing the timeline beyond the original 2026 target.

All 17 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 20.3%, net profit up 20.8% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue543 602 602 621 647 +19%717 +19%724 +20%747 +20%
EBITDA113 131 134 140 146 +29%163 +24%161 +20%168 +20%
Net profit92 100 103 106 111 +21%119 +19%120 +17%128 +21%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −22.7% 1Y

₹1.2k₹1.4k₹1.6k₹1.8k₹2.0k₹2.2kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q3 FY26 — 2 Feb 2026Q4 FY26 — 11 May 2026Q1 FY27 — 10 Aug 2026

1Y: ₹2,028.4 on 10 Sept 2025 → ₹1,567.6. High ₹2,146.7 (22 Sept 2025), low ₹1,268.7 (23 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
−3.1%
10 Aug
Q4 FY26
+8.6%
11 May
Q3 FY26
−0.0%
2 Feb

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 30.7% a year over 3 years, FY23 to FY26. Operating margin widened to 22.5%.

Year endingFY23FY24FY25FY26
Revenue₹1.2k Cr₹1.8k Cr₹2.3k Cr₹2.7k Cr
Operating profit₹241 Cr₹360 Cr₹482 Cr₹610 Cr
Operating margin19.9%19.5%21.3%22.5%
Interest₹8 Cr₹19 Cr₹13 Cr₹5 Cr
Depreciation₹38 Cr₹70 Cr₹97 Cr₹124 Cr
Net profit₹203 Cr₹297 Cr₹382 Cr₹456 Cr
Net margin16.7%16.1%16.9%16.8%
Cash from operations₹260 Cr₹262 Cr₹426 Cr₹502 Cr
Free cash flow₹168 Cr₹147 Cr₹266 Cr₹291 Cr
ROCE20.0%16.0%17.0%17.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹26 Cr₹27 Cr₹27 Cr₹28 Cr₹28 Cr₹28 Cr
Reserves₹333 Cr₹1.2k Cr₹1.4k Cr₹2.5k Cr₹3.2k Cr₹3.6k Cr
Borrowings₹119 Cr₹149 Cr₹106 Cr₹183 Cr₹38 Cr₹15 Cr
Other liabilities₹275 Cr₹497 Cr₹437 Cr₹592 Cr₹619 Cr₹754 Cr
Total liabilities₹753 Cr₹1.8k Cr₹2.0k Cr₹3.3k Cr₹3.9k Cr₹4.4k Cr
Fixed assets₹361 Cr₹699 Cr₹786 Cr₹1.1k Cr₹1.4k Cr₹1.5k Cr
Capital work in progress₹40 Cr₹42 Cr₹49 Cr₹98 Cr₹0 Cr₹0 Cr
Investments₹76 Cr₹135 Cr₹0 Cr₹37 Cr₹113 Cr₹114 Cr
Other assets₹276 Cr₹948 Cr₹1.2k Cr₹2.0k Cr₹2.4k Cr₹2.8k Cr
Total assets₹753 Cr₹1.8k Cr₹2.0k Cr₹3.3k Cr₹3.9k Cr₹4.4k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs added +4.95 pp while FIIs trimmed −3.05 pp. The shareholder count shrank 7% to 2,43,769.

Promoters
54.9%
FIIs
15.4%
DIIs
18.8%
Public
10.8%
Others
0.1%

Since Jun 2025

  • DIIs +4.95 pp
  • FIIs −3.05 pp
  • Public −1.87 pp

How it drifted, 12 quarters

Over this window FIIs went from 9.7% to 15.4% — +5.7 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 59.9%, FIIs 9.7%, DIIs 14.3%, Public 16.1%, Others 0.1%.Dec '23: Promoters 56.9%, FIIs 14.3%, DIIs 14.7%, Public 13.9%, Others 0.1%.Mar '24: Promoters 56.9%, FIIs 14.8%, DIIs 14.7%, Public 13.5%, Others 0.1%.Jun '24: Promoters 55.1%, FIIs 15.3%, DIIs 16.2%, Public 13.3%, Others 0.1%.Sep '24: Promoters 55.1%, FIIs 15.6%, DIIs 15.6%, Public 13.7%, Others 0.1%.Dec '24: Promoters 55.0%, FIIs 16.5%, DIIs 14.6%, Public 13.8%, Others 0.1%.Mar '25: Promoters 55.0%, FIIs 16.1%, DIIs 15.3%, Public 13.5%, Others 0.1%.Jun '25: Promoters 55.0%, FIIs 18.4%, DIIs 13.8%, Public 12.7%, Others 0.1%.Sep '25: Promoters 55.0%, FIIs 19.0%, DIIs 14.7%, Public 11.2%, Others 0.1%.Dec '25: Promoters 55.0%, FIIs 17.8%, DIIs 16.4%, Public 10.8%, Others 0.1%.Mar '26: Promoters 54.9%, FIIs 16.7%, DIIs 17.9%, Public 10.4%, Others 0.1%.Jun '26: Promoters 54.9%, FIIs 15.4%, DIIs 18.8%, Public 10.8%, Others 0.1%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 1 holder trimming and 2 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Affle 3i above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Affle Holdings Pte Ltd 40.64%unchanged
Agpl Pte Ltd 14.27%unchanged
Gamnat Pte. Ltd. FPI fund4.90%unchanged
Sundaram Mutual Fund A/C Sundaram Long Term Micro Mutual fund2.99%newly disclosed
Malabar India Fund Limited FPI fund2.16%unchanged
UTI Multi Cap Fund Mutual fund2.13%+0.15 pp
ICICI Prudential Life Insurance Company Limited Insurer2.09%−0.87 pp
Canara Robeco Mutual Fund A/C Canara Robeco Small Mutual fund2.09%+0.96 pp
ICICI Prudential India Opportunities Fund Mutual fund2.05%newly disclosed
Nippon India Trustee Ltd-A/C Nippon India Val Mutual fund1.91%unchanged
Franklin Templeton Investment Funds - Franklin Ind Global fund house1.34%unchanged
Monetary Authority of Singapore Sovereign1.15%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in AFFLE

Filings to Aug 2026

1 new, 4 added, 1 trimmed, 0 sold out — net +0.84 L shares (+3.1%).

Held by funds
₹452 Cr
7 schemes
Biggest holder
Nippon India Small Cap Fund
₹413 Cr · 0.5% of that fund
SchemeHoldingLast month
Nippon India Small Cap Fund Nippon India Mutual Fund₹413 Crheld
Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund₹16 Cr+0.01 L
Nippon India Active Momentum Fund Nippon India Mutual Fund₹13 Crnew
SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund₹8 Cr+0.01 L
Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund₹1 Cr+0.00 L
SBI Nifty 500 Index Fund SBI Mutual Fund₹0 Cr−0.00 L
SBI Nifty Small Cap 250 ETF SBI Mutual Fund₹0 Cr+0.00 L

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

4 added, 1 trimmed — net +83,959 shares (+3.1%)

Funds are sitting on
+36%
vs est. average cost
Held by funds
₹452 Cr
7 schemes · ≈ 1.7% of the company
Biggest holder
Nippon India Small Cap Fund
₹413 Cr · 0.5% of that fund

Shares held by these funds −54%

Aug '23 27.48 L shares Jul '26

What the price assumes

Fair

To justify its price of ₹1568, this stock must grow earnings at 30% every year for 7 years. Our analysis caps realistic growth at ~29%. At that growth it is worth ₹1458 — downside of 7%.

Growth the price implies
30.1% a year
for 7 years, fading to 4%
It has actually compounded at
31.0% a year
net profit, FY23–FY26 · EPS 28.6%
The gap
0.0 pp
-7% downside if it only repeats history
Price today ₹1,567.6 Value at the reference growth ₹1,457.79

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Affle 3i

Guides on how to read this kind of business and the numbers that matter.