InfoBeans Technologies Ltd Management Discussions

Global economy

The global economy entered 2026 having shown notable resilience through the previous year, absorbing higher trade barriers and elevated uncertainty even as activity held to a steady pace of about 3.4% over 202 5. That stability was tested at the end of February 2026 by the outbreak of war in the Middle East, which raised commodity prices, firmed up inflation expectations and tightened financial conditions. In view of the resulting uncertainty, the latest projections are presented as a reference forecast, prepared on the working assumption that the conflict remains limited in duration and scope.

On this basis, global growth is projected at 3.1% in 2026 and 3.2% in 2027 below the recent pace of 3.4% and well under the historical (2000-2019) average of 3.7%, with the 2026 figure revised down by 0.2 percentage point relative to the January 2026 estimate. Advanced economies are expected to grow 1.8% in 2026. Within this group, the United States is projected to grow 2.3% in 2026 and 2.1% in 2027, supported by domestic demand and continued technology-related investment, while the euro area remains subdued at around 0.9% before recovering towards 1.0% in 2027, weighed down by weak industrial output and sensitivity to energy prices.

Emerging market and developing economies are projected to grow 3.9% in 2026, with China at 4.4%, and both the slowdown in growth and the rise in inflation are expected to be more pronounced in this group, particularly among commodity-importing economies with pre-existing vulnerabilities.

Global headline inflation is projected to rise to 4.4% in 2026, largely on account of higher energy costs, before easing to 3.7% in 2027. Downside risks dominate the outlook. Under an adverse scenario of larger and more persistent energy-price increases, global growth could slow to 2.5% in 2026, and to about 2.0% under a more severe scenario. Beyond the conflict, deeper geopolitical fragmentation, renewed trade tensions, a reassessment of expectations around artificial intelligence-driven productivity, elevated public debt and any erosion of institutional credibility could each weaken growth and unsettle financial markets. On the upside, sustained AI- related investment could lift activity further if it translates into durable productivity gains.

Source: IMF, World Economic Outlook, April 2026

Real GDP projections (In %)

	CY	CY	CY
	2025	2026 (P)	2027 (P)
Global Economy	3.4	3.1	3.2
Advanced Economy	1.9	1.8	1.7
Emerging Markets and	4.4	3.9	4.2
Developing Economies

Indian economy

India remained among the fastest-growing major economies in FY26. Real GDP is estimated to grow 74% in FY26, an acceleration from 6.5% in the previous year, while nominal GDP is estimated to grow 8.0%. Growth was led by the services sector and supported by resilient investment and steady household consumption.

On the supply side, real Gross Value Added is estimated to grow 73%. The services sector, growing about 75%, remained the principal engine, underpinned by financial services, real estate, professional services and trade, transport and communication. The secondary sector, comprising manufacturing and construction, is estimated to grow by 70%, while agriculture and allied activities are expected to grow by 3.1% and the utilities segment by 2.1%, reflecting more moderate growth across these sectors. Private final consumption expenditure continued to expand at a healthy pace, supported by a recovery in rural demand, while investment activity held firm. During

the year, the Government also moved to revise the national accounts to a 2022-23 base year, the ninth such revision, modernising the measurement framework.

The broader outlook remained stable. Growth momentum was sustained despite an uncertain global environment, with domestic demand proving relatively insulated from external volatility, and the services-led composition of growth continuing to support demand for the countryRss technology and engineering capabilities. The Economic Survey 2025-26 indicated continued strength in services and investment carrying into the next fiscal, while cautioning on global trade fragmentation and commodity-price risks.

Source: First Advance Estimates, National Statistical Office (NSO), Ministry of Statistics & Programme Implementation (MoSPI); Economic Survey 2025-26

Industry overview

Global IT industry

Worldwide IT spending is expected to reach USD 6.31 trillion in 2026, reflecting a 13.5% increase over 2025. The expansion is being driven by sustained momentum across AI infrastructure and software, and is producing what is increasingly a multi-speed market, in which AI-centric segments significantly outperform more traditional categories.

Spending patterns in 2026 are shaped predominantly by artificial intelligence. Data centre systems are set to register the largest growth, expanding 55.8% in 2026 to reach USD 788 billion, as hyperscale cloud demand drives a sharp increase in investment in AI- optimised servers and infrastructure. Software spending is projected to grow 15.1% to USD 1,444 billion, with generative AI driving outsized gains, particularly in model development, where spending is forecast to more than double year on year. IT services, spanning application and infrastructure implementation, managed services and cloud infrastructure, remains the single largest segment at USD 1,870 billion, growing 9.0%. Device spending rises to USD 856 billion, though growth is moderated by higher memory costs that are lifting average selling prices and constraining replacement cycles in lower-margin segments.

Even as generative AI passes through a phase of more measured expectations, often described as the trough of disillusionment, organisations continue to commit

substantial investment to AI infrastructure and AI-enabled software, signalling a longer-term transformational impact rather than a short-lived cycle. AI features are increasingly embedded by default into software that enterprises already own and operate, raising both its cost and its value. Overall, the global IT industry remains resilient, with cloud, AI, cyber security, customer experience and business transformation continuing to shape the technology agenda.

Worldwide IT Spending Forecast

	CY 2025 Spending	CY 2025 Growth (%)	CY 2026 Spending	CY 2026 Growth (%)
Data Centre Systems	505,634	51.6	787,990	55.8
Devices	791,663	9.7	856,189	8.2
Software	1,254,449	12.8	1,443,621	15.1
IT services	1,715,650	6.2	1,870,197	9.0
Communications services	1,296,409	3.3	1,358,553	4.8
Overall IT	5,563,805	10.5	6,316,550	13.5
Source: Gartner (April 2026)

Indian IT industry

The Indian technology industry crossed the USD 300 billion revenue milestone for the first time in FY26, marking a shift, in NASSCOMRss framing, from scale-led growth towards value and innovation. Industry revenue, including hardware, is estimated to reach USD 315 billion, marking a 6.1% year-on-year growth over the revised FY25 figure of USD 297 billion. Exports are estimated to exceed USD 246 billion, growing 5.6%, while domestic technology demand expanded by a stronger 79%, and growth in the APAC and Middle East regions outpaced the mature geographies.

Net hiring moderated relative to revenue growth, with the industry adding approximately 135,000 employees, taking the total workforce to nearly 6 million, a 2.3% increase over the previous year. This reflected a structural shift in hiring, from volume-led recruitment towards a skill-mix approach that prioritises AI fluency, problem solving and domain expertise, with more than two million professionals upskilled in AI during the year. Global Capability Centres (GCCs) and Engineering, Research & Development (ER&D) continued to act as primary growth engines, complemented by contributions from the BFSI, retail and healthcare sectors.

FY26 also marked a decisive shift in the role of artificial intelligence, which moved from experimentation to function-specific, return-on-investment-led deployment, reshaping operating models across the industry. AI- related revenue is estimated at USD 10 to 12 billion for the year. By segment, IT services contributed an estimated USD 149 billion, ER&D around USD 63 billion, business process management about USD 59 billion, software products USD 23 billion and hardware USD 21 billion. Across the industry, enterprises increasingly prioritised measurable outcomes and value-led transformation, with delivery models built around Human plus AI teams and a continued focus on building future-ready talent.

For FY27, technology spending growth is projected to remain in the range of 5% to 7%, as AI investment moves from experimentation towards industrial scale. With a robust foundation, deepening AI capability and a clear pivot towards value and innovation, the Indian technology industry remains positioned for sustained growth and global leadership.

Source: NASSCOM,

Annual Strategic Review 2026

Alongside the broader IT market, artificial intelligence has emerged as a distinct and rapidly expanding market in its own right. Worldwide spending on AI is forecast to total USD 2.59 trillion in 2026, an increase of 47% over the previous year, with AI infrastructure expected to account for the largest share of spending over the coming years as cloud providers and enterprises continue to build out capacity.

Within this, generative AI has scaled quickly, with global GenAI spending estimated at USD 644 billion in 2025.

The market is now shifting from broad experimentation towards scaled, function-specific deployment, with enterprises prioritising assured, reliable and governed outcomes, and with demand increasingly moving towards agentic AI, where autonomous AI agents perform defined

tasks within enterprise workflows. For technology services providers, this is reshaping the delivery model itself, towards a services-as-software approach in which accelerators, AI agents and assurance layers are embedded directly into the engineering process.

In India, AI is becoming a meaningful revenue contributor, with AI-related revenue estimated at USD 10 to 12 billion in FY26, an early but fast-growing pool. This is the segment in which the Company has scaled most significantly through FY26, with AI-augmented software development now accounting for a substantial share of its revenue, and it represents the principal market opportunity shaping the CompanyRss strategy and investment in the years ahead.

Worldwide AI Spending by Market, 2025-2027

Market	2025	2026	2027
AI Services	436,351	585,527	759,418
AI Cybersecurity	25,920	51,347	85,997
AI Software	282,897	453,209	638,431
AI Models	15,494	32,604	59,161
AI Platforms for Data Science and Machine Learning	21,292	29,928	42,639
AI Application development Platforms	6,587	8,416	10,922
AI Data	826	3,126	6,480
AI Infrastructure	975,581	1,431,508	1,890,310
Total AI Spending	1,764,947	2,595,667	3,493,358

Source: Gartner, Worldwide AI Spending Forecast (2026) and Worldwide GenAI Spending Forecast; NASSCOM, Annual Strategic Review 2026

Company overview

InfoBeans Technologies Limited is a global, AI-led digital engineering and transformation company that helps enterprises design, build, and manage digital applications while leveraging advanced software technologies to address complex business challenges. Established in 2000 and listed on both the BSE and NSE, the Company has built a strong global presence over the past two and a half decades. With delivery centres across Indore, Pune, Chennai, and Bengaluru, and operations spanning North America, Europe, and the Middle East, InfoBeans serves clients across diverse industries through its technology- driven solutions and engineering expertise.

During FY26, InfoBeans took a conscious and decisive step towards becoming an AI-first organisation. Across its core offerings, AI-led engineering, ServiceNow, Salesforce, and storage and virtualization, the Company embedded artificial intelligence into both how it sells and how it delivers, with 43% of revenue now generated through AI-augmented software development. This pivot is supported by a suite of in-house accelerators and an enterprise-grade responsible AI framework, and is reflected in the CompanyRss early adoption of the ISO/IEC 42001:2023 standard for AI Management Systems.

The trust the Company builds across clients, team members, partners and the broader community remains its defining differentiator. With a team of around 1,790

people, a base of 50 large enterprise clients including 18 from the Fortune 500, and average large-enterprise relationships exceeding nine years, InfoBeans continues to combine the agility of a focused engineering firm with the discipline expected by global enterprises. Through long-standing partnerships with Salesforce, ServiceNow, Microsoft, Azure and agineo, the Company helps clients accelerate their digital and AI transformation journeys. Guided by its mission to create enduring value for its entire ecosystem, InfoBeans continues to measure success not only by financial returns but by the WOW moments it creates for every stakeholder.

FY26 performance discussion

Statement of Profit & Loss

On a consolidated basis, the Company recorded total revenue of Rs539 Crore (including Other Income of Rs25 Crore) for the year ended 31 March 2026, compared with Rs409 Crore (including Other Income of Rs15 Crore) for the year ended 31 March 2025, reflecting a robust year-on-year growth of 32%. The Company reported a Net Profit of Rs87 Crore for the year ended 31 March 2026, as against Rs38 Crore in the corresponding previous year, representing a growth of approximately 129%.

The key drivers of this significant improvement in financial performance are outlined below:

I. Accelerated

revenue growth

Higher business volumes enabled the Company to achieve greater operating leverage, effectively spreading fixed costs over an expanded revenue base, thereby improving per-unit economics and enhancingoperating m , gns

* Improvement in other income

Other Income recorded a meaningful increase, primarily attributable to receipts under US Government grant programmes and net gains arising from favourable foreign exchange rate movements.

3 Optimisation of operating expenses

Disciplined cost-management initiatives and sustained focus on operational efficiency resulted in a reduction in overall operating costs as a proportion of revenue, further bolstering profitability.

. Strong execution and management discipline

The Company demonstrated rigorous financial and operational discipline through proactive cost rationalisation and process optimisation, contributing to a more robust and sustainable operating margin profile.

Balance Sheet

Non-Current Assets

^ Property, Plant and Equipment

The net block of Property, Plant and Equipment as at 31 March 2026 stood at Rs11 Crore, as compared to Rs10 Crore as at 31 March 2025. The net movement of Rs1 Crore is attributable to the following:

(a) Capital additions during the year: Rs4 Crore

(b) Depreciation charge for the year: Rs3 Crore

[2 Goodwill

Goodwill as at 31 March 2026 stood at Rs15 Crore, as compared to Rs14 Crore as at 31 March 2025.

The incremental movement of Rs1 Crore is entirely on account of foreign currency translation gains arising from the retranslation of the carrying amount at closing exchange rates.

[2 Other Intangible Assets

Other Intangible Assets as at 31 March 2026 amounted to Rs72 Crore, as compared to Rs84 Crore in the previous year. The net decrease of Rs12 Crore is explained as follows:

(a) Amortisation charge for the year: Rs13 Crore

(b) Foreign currency translation gain: Rs1 Crore

^2 Right-of-Use Assets

Right-of-Use Assets as at 31 March 2026 amounted to Rs15 Crore, as compared to Rs17 Crore in the previous year. The net decrease of Rs2 Crore reflects the following movements:

(a) Depreciation on right-of-use assets: Rs7 Crore

(b) Net additions on account of lease renewals (net of cancellations): Rs5 Crore

For further details, please refer to Note 36: Leases of the Consolidated Financial Statements.

Non-Current Financial Assets

A. Other Financial Assets: Other Financial Assets as at 31 March 2026 stood at Rs11 Crore, as compared to Rs3 Crore in the previous year. The substantial increase is primarily on account of the reclassification of deposits with banks from Current Financial Assets to Non-Current Financial Assets, in line with their revised maturity profile.

Q Deferred Tax Assets

a. Deferred Tax Assets (Net): Deferred Tax Assets (net) as at 31 March 2026 stood at ?6 Crore, as compared to ?11 Crore in the previous year.

b. Income Tax Assets (Net): Income Tax Assets (net) as at 31 March 2026 stood at ?3 Crore, as compared to ?4 Crore in the previous year.

Current Assets

Q Current Financial Assets:

A. Investments: Current Investments as at 31 March 2026 stood at ?165 Crore, as compared to ?114 Crore in the previous year. The increase of ?51 Crore reflects the CompanyRss active deployment of surplus liquidity into bonds and liquid mutual funds, in accordance with its Board-approved investment policy.

B. Trade Receivables: Trade Receivables as at 31 March 2026 stood at Rs108 Crore, as compared to Rs86 Crore in the previous year. The increase of Rs22 Crore is primarily attributable to the higher volume of billings and growth in contract revenue recognised during the final quarter of FY 2025-26. For further details, please refer to Note 8: Trade Receivables of

the Consolidated Financial Statements.

C. Cash and Cash Equivalents: Cash and Cash Equivalents as at 31 March 2026 stood at

Rs59 Crore, as compared to Rs47 Crore in the previous year, reflecting the CompanyRss robust operating cash generation during the year.

D. Other Financial Assets: Other Financial Assets (current) as at 31 March 2026 stood at Rs6 Crore, as compared to Rs13 Crore in the previous year.

The decrease is attributable to the reclassification of deposits with banks to Non-Current Financial Assets as described under item 5(A) above.

.8 Other Current Assets

Other Current Assets as at 31 March 2026 stood at

Rs7 Crore, as compared to Rs4 Crore in the previous year.

The increase is primarily driven by a higher balance

in balances with government authorities, reflecting

advance tax credits and indirect tax refund claims.

Equity w ^

^ Total Equity

The Company has a single class of equity shares of face value Rs10 each. The issued, subscribed and fully paid-up share capital, together with Other Equity, stood at Rs414 Crore as at 31 March 2026, as against Rs332 Crore as at 31 March 2025. The net increase of Rs81 Crore is explained by the following transactions during the year:

• Employee Stock Option Plan (ESOP): During the year, the Company allotted 86,550 Equity Shares to eligible team members pursuant to the InfoBeans Partnership Programme (Employee Stock Option Plan 2016), resulting in a corresponding increase in the paid-up share capital and the Share-Based Payment Reserve.

• Bonus Issue: The Company allotted 7,27,19,580 fully paid-up Equity Shares of face value Rs10 each pursuant to a Bonus Issue approved by shareholders through Postal Ballot. The record date fixed by the Board of Directors was 27 February 2026. The Bonus Shares were issued in the ratio of 3:1 (three new Equity Shares for every one Equity Share held), through capitalisation of the Capital Redemption Reserve, Securities Premium and Retained Earnings.

• Buyback of Equity Shares: The Company successfully completed a buyback of 2,15,520 Equity Shares of face value Rs10 each at a price of Rs464 per share, for an aggregate consideration not exceeding Rs10 Crore, in accordance with the applicable provisions of the Companies Act, 2013 and SEBI (Buy-Back of Securities) Regulations, 2018.

• Profit for the Year & Dividend Distribution: The Company earned a Total Comprehensive Income of Rs93 Crore (inclusive of exchange differences on translation of financial statements of foreign operations amounting to Rs8 Crore) and distributed dividend aggregating Rs2 Crore during the year, resulting in a net increase of Rs91 Crore in Retained Earnings.

Non-Current Liabilities

10 Non-Current Financial Liabilities:

Non-Current Financial Liabilities (comprising lease liabilities and other financial liabilities) as at 31 March 2026 stood at Rs8 Crore, as compared to Rs10 Crore in the previous year. The decrease of Rs2 Crore is primarily on account of lease liabilities reducing from Rs10 Crore to Rs8 Crore, driven by the expiry of certain leases during the year, partially offset by additions on account of lease renewals. For further details, please refer to Note 36 of the Consolidated Financial Statements.

11 Long-Term Provisions

Long-Term Provisions as at 31 March 2026 stood at Rs14 Crore. There has been no significant movement in long-term provisions during the year.

Current Liabilities

Current Financial Liabilities

Current Financial Liabilities (comprising current portions of lease liabilities, trade payables and other financial liabilities) as at 31 March 2026 stood at Rs17 Crore, as compared to Rs16 Crore in the previous year, reflecting a marginal increase of Rs1 Crore. The movement is primarily on account of the termination of certain lease contracts during the year, offset by an increase in trade payables and other financial liabilities consistent with the growth in business activity.

13 Other Current Liabilities

Other Current Liabilities as at 31 March 2026 stood at Rs12 Crore, as compared to Rs14 Crore in the previous year. The decrease of Rs2 Crore is primarily attributable to a reduction in statutory dues payable and a decline in deferred revenue balances.

14 Short-Term Provisions

Short-Term Provisions as at 31 March 2026 stood at Rs5 Crore, as compared to Rs4 Crore in the previous year, reflecting a marginal increase of Rs1 Crore.

15 Current Tax Liabilities

Current Tax Liabilities as at 31 March 2026 stood at Rs2 Crore, as compared to Nil in the previous year.

This liability has arisen on account of the CompanyRss enhanced profitability during the current year, resulting in a net current tax payable after adjustment of applicable tax credits.

Financial Ratios

Particulars	March 31, 2026	March 31, 2025	Change	Remarks
Current Ratio	11.16	10.26	8.73%	NA
Debt- Equity Ratio	0.02	0.03	-35.89%	Ratio decreased primarily due to a reduction in lease liabilities during the current year along with an increase in shareholdersRs funds due to profits earned during the year.
Debt Service Coverage Ratio	19.91	12.78	55.82%	Variance mainly due to an increase in earnings for debt service, while interest on lease payments, and principal repayments remained largely stable.
Return on Equity Ratio	0.20	0.16	22.22%	NA
Inventory Turnover Ratio	NA	NA	NA	NA
Trade Receivable Turnover Ratio	4.07	4.80	-15.26%	NA
Trade Payable Turnover Ratio	NA	NA	NA	NA
Net Capital Turnover Ratio	2.10	2.09	0.54%	NA
Net Profit Ratio	0.17	0.17	5.14%	NA
Return on Capital Employed	0.25	0.21	16.12%	NA
Return on Investment	0.08	0.08	-3.72%	NA

All financial ratios presented above have been taken from standalone financials.

Outlook

At InfoBeans, the mission is to engage in meaningful work that delivers long-term value to the entire ecosystem, including team members, clients, partners, shareholders and the environment. The Company remains committed to growth that is constant, responsible and sustainable.

Its long-held aspiration is to broadly double the business approximately every three years, an ambition pursued through a balanced combination of organic and inorganic strategies, disciplined execution and continued investment in AI, sales and market expansion. The Company does not provide explicit financial guidance, and its margin philosophy is centred on sustainability rather than the maximisation of short-term profitability. Management views a steady-state EBITDA margin in the region of 24% as the appropriate planning anchor and continues to invest for the future; shareholders should therefore not assume that every quarter will deliver outlier margins.

Organic growth

Organic growth remains the CompanyRss foremost focus. The strategy centres on deepening and expanding relationships with existing clients, who continue to return year after year, while selectively adding new enterprise clients with strong balance sheets and long-term digital transformation needs. Artificial intelligence has become the sha rpest a rrowhead of this strategy, serving both as a service offering, through accelerators such as InsaneSDD

2.0, Expona 2.0, BeanTrail, RAI and Stanza, and as a driver of internal productivity. Strong alliances with leading platforms, particularly ServiceNow and Salesforce, combined with investments in AI capability and a deep engineering bench, allow the Company to deliver outcome-led solutions. InfoBeans continues to expand its presence in North America, Germany and the Middle East through dedicated sales and client success teams, with Europe in particular emerging as a significant growth contributor, aided by the strategic partnership with agineo.

Inorganic growth

InfoBeans also pursues a well-defined inorganic growth strategy, supported by a healthy cash reserve and a focused team dedicated to identifying acquisition opportunities across targeted capabilities, geographies and cultures. The Company remains both aggressive and selective, pursuing only those opportunities where there are clear value drivers, a defined integration path and achievable synergies, and where the target aligns with its values and long-term vision. While viable opportunities have remained limited in recent periods, the Company stays alert to strategic moves that can add niche expertise, hard-to-build intellectual property, complementary geographies or stronger offshore delivery capability, and that can unlock cross-selling and up-selling within the existing client base.

SCOT Analysis

S Strengths

• Long-standing, high-trust client franchise, with 50 large enterprise clients, 18 Fortune 500 clients, average enterprise relationships exceeding nine years and over 90% of clients returning each year.

• An AI-first operating model, with 43% of revenue AI-augmented, a proprietary accelerator ecosystem and early ISO 42001:2023 certification for responsible AI governance.

_ Concerns C

• Concentration of revenue in the US geography, which continues to face a relatively uncertain macro environment, mitigated by the growing European and Middle East contribution.

0 Opportunities

• Rising enterprise demand for AI, agentic AI, cloud and cyber security services, and the shift towards outcome-led, services-as-software delivery.

• Deeper expansion within existing accounts and continued diversification across Europe, the Middle East and APAC.

Threats

1 • Global macroeconomic and geopolitical

uncertainty affecting client spending trajectories.

• Intensifying competition for skilled AI and technology talent, and a shifting hiring pyramid.

• Demonstrated operating leverage and execution discipline, supported by healthy utilisation and a debt- light, cash-rich balance sheet.

• Diversified geographic mix and elite-level partnerships with Salesforce, ServiceNow, Microsoft and agineo.

• Project-based revenue with limited multi-year order visibility, which constrains forward predictability.

• The pace of AI-led change requires continuous reinvestment in skills, accelerators and governance to stay ahead.

• Growing adoption of digital and AI transformation across BFSI, storage and virtualization, and other focus industries, where mid-sized, agile firms can move quickly.

• Heightened cyber security and data-protection risks, and the pace of technology evolution that necessitates continuous upskilling.

• Margin pressure from escalating operating and talent costs during periods of high investment.

People

Material development in Human Resource

People remain central to InfoBeansRs growth and longterm success. As an AI-led digital engineering and transformation company, we recognise that our ability to innovate, deliver value, and adapt to a rapidly evolving technology landscape is driven by the talent, expertise, and commitment of our workforce.

To strengthen leadership capabilities and foster continuous learning, we maintained our collaboration with premier institutions such as the Indian Institutes of Management (IIMs), offering structured development and upskilling programmes. During FY26, employees completed 44,970 man-hours of learning, reinforcing our commitment to building future-ready capabilities and keeping pace with emerging technologies and industry developments.

In a defining shift this year, we embedded AI across our internal functions, from delivery and sales to the people function itself, reinforcing our AI-first culture from the inside out. Our flagship Innovation Day events remain a cornerstone of our culture, generating breakthrough ideas across AI, Salesforce and ServiceNow, and strengthening connections across all levels of the organisation.

Recognising the importance of work-life balance and overall well-being, we continue to implement employeecentric initiatives and to invest in world-class workspaces that bring the workplace closer to our people and improve their quality of life. We also offer financial aid and flexible work arrangements, reflecting our commitment to supporting our teamRss evolving needs.

Compassion and empathy form the foundation of our culture. By prioritising care, respect, and genuine connection, we have created an environment where individuals feel valued, supported, and inspired to deliver their best. This approach has strengthened employee engagement, enhanced retention, and reinforced InfoBeansRs reputation as an employer of choice.

Our commitment to shared success is reflected in the InfoBeans Partnership Programme, with 175 team members holding stock options across two schemes. This initiative rewards dedication and aligns individual aspirations with the CompanyRss long-term growth ambitions. Today, we are actively engaging our teams to envision and drive the next phase of our growth journey, fuelled by passion, purpose, and collective ambition.

As on 31 March 2026, supported by strong hiring in the fourth quarter, we had a team of approximately 1,790 people.

Internal control and their adequacy

In line with evolving regulatory requirements and amendments to the Companies Act, InfoBeans Technologies Limited has further strengthened its internal control and governance framework. During the year, the Company enhanced several key control mechanisms, including fraud risk assessment processes, mandatory leave policies, strengthened employee background verification procedures, an improved whistle-blower framework, and a more robust enterprise risk management structure.

The Company maintains a comprehensive internal control system designed to support operational effectiveness, safeguard assets, ensure the accuracy and reliability of financial reporting, and promote compliance with applicable laws and regulations. These controls are supported by well- defined policies, clearly delegated authorities, and established governance practices that reinforce accountability and disciplined decision-making across the organisation.

Industrial relations

During FY26, InfoBeans Technologies Limited sustained strong and harmonious industrial relations across all its locations, with no material disputes during the year.

Risks and concerns

This section contains forward-looking statements subject to risks and uncertainties, and actual results may differ materially from those anticipated due to various factors. The CompanyRss risk management framework is overseen by the Risk Management Committee, which frames, implements and monitors the risk management plan and reviews its effectiveness.

Cautionary statement

This document contains forward-looking statements related to expected future events, financial performance and operational outcomes for InfoBeans Technologies Limited. These statements are based on assumptions and are inherently subject to risks and uncertainties. While the Company endeavours to ensure accuracy, actual results and developments may differ materially from those anticipated. Readers are advised not to place undue reliance on these statements. Various factors could cause actual outcomes to vary significantly from those projected. Accordingly, this document should be read in its entirety, alongside the assumptions, qualifications and risk factors outlined in the Management Discussion and Analysis section of InfoBeans Technologies LimitedRss Annual Report for FY26.