Intense Technologies Ltd Management Discussions

Driving Enterprise Success with AI and IP-Led Platforms

AI and Enterprise Transformation: Emerging Insights

Accelerating Adoption

According to McKinseys State of AI 2025 report, AI adoption has reached a tipping point globally. Over three-quarters of organizations now use AI in at least one business function, and 71% are already deploying generative AI. Companies are embedding AI across marketing, sales, product development, IT, and service operations, moving beyond pilots to enterprise-wide deployment. This growing momentum highlights how AI is becoming central to business competitiveness.

Pathways to Value Creation

McKinseys analysis underscores that true value from AI comes when organizations re-engineer their workflows and embed AI into core processes. Redesigning workflows was identified as the single most impactful driver of EBIT improvement from gen-AI deployment. Impact is further amplified when CEOs and boards directly oversee AI governance, treating it as a strategic transformation rather than an isolated IT initiative. Larger organizations are leading by example, creating dedicated adoption teams, centralizing governance, and tracking well-defined KPIs·all of which accelerate scale and measurable outcomes.

Relevance for Intense Technologies

These global best practices align directly with Intenses AI-powered, IP-led strategy. By embedding Generative AI and Agentic AI into the UniServe™ NXT ecosystem, Intense is already enabling clients to redesign workflows, enhance governance, and achieve measurable enterprise impact. As enterprises worldwide shift from experimentation to transformation, Intense is positioned to be a trusted partner in unlocking efficiency, driving hyper- personalized engagement, and creating sustainable competitive advantage.

Industry Overview

While we pave the way for the next generation of AI, organizations worldwide are accelerating adoption strategies to address business gaps and unlock enterprise-wide value. Enterprises are embedding these technologies across critical workflows, from customer communications, engagement, data management, low-code application development, to operations and decision-making, driving measurable gains in efficiency, agility, and profitability.

According to Fortune Business Insights, the global artificial intelligence market size was valued at USD 233.46 billion in 2024. The market is projected to grow from USD 294.16 billion in 2025 to USD 1,771.62 billion by 2032, exhibiting a CAGR of 29.20% during the forecast period.

As per MarketsandMarkets, the customer engagement solutions market size is expected to grow to USD 32.2 billion by 2027.

For organizations to stay ahead of the curve, the ability to build robust platforms, seamlessly integrate with legacy systems, and assess digital maturity will be critical to achieving long-term value creation. As enterprises navigate increasing complexity, the focus is shifting from incremental improvements to transformative outcomes powered by AI, data, and intelligent automation. Those who invest in future- ready capabilities and align technology with business priorities will be better positioned to unlock efficiency, strengthen customer engagement, and accelerate innovation.

Company Overview

Enterprises, including several Fortune 500 organizations, rely on our IP-driven platforms and services to accelerate their digital transformation and deliver measurable business outcomes. With our headquarters in Hyderabad, India, we serve clients across four continents, driving impact at scale. Over the past two decades, we have established a strong presence in Banking, Financial Services, Insurance, NBFCs, Telecom, and Government sectors, supported by a proven product portfolio and deep industry expertise.

Our enterprise solutions are built to deliver tangible business impact, optimizing costs, unlocking new revenue streams, and strengthening customer relationships. A leading private sector bank in India exemplified this impact by leveraging our Centralized Communication Governance Platform, achieving savings worth hundreds of crores in just one year, while simultaneously enhancing customer experience and meeting compliance obligations seamlessly.

Leveraging digital ecosystems, strategic partnerships, and cutting-edge technologies such as Generative AI, LAMs, and LLMs, we enable enterprises to overcome complex challenges, streamline operations, and drive efficiency through intelligent, future-ready workflows.

Intense Technologies Limited, a publicly listed company in India, is listed on the National Stock Exchange of India Limited (NSE) and Bombay Stock Exchange Limited (BSE).

Creating Business Impact through Innovation

Businesses are undergoing rapid evolution, with enterprises increasingly prioritizing digital transformation, cloud adoption, AI integration, and platform-driven innovation to stay competitive. Beyond traditional service delivery, the focus today is on building SaaS-enabled products and providing service expertise that ensures agility and scalability. At Intense Technologies, we are at the forefront of this shift, combining our IP-led platforms with technology- driven services to help enterprises transform at scale. We continue to create the foundation of next-gen future-ready enterprises.

Driving Agile Transformation

Over the past year, we have seen the impact of our clients transformation journeys translate into measurable top-line growth. Anchored by Project Butterfly, our strategic initiative to scale and expand platform-enabled services, we have strengthened our ability to deliver sustained value to our clients. We are enabling enterprises to accelerate ecosystem-wide automation, maximize returns on their technology investments, and achieve faster time-to-value. This approach not only enhances operational efficiency but also positions our clients to compete more effectively in rapidly evolving markets.

With Project Butterfly driving momentum, our growth journey is powered by AI-led Platforms and Services designed to help enterprises address mission- critical challenges and differentiate themselves in a competitive marketplace. From design to delivery, UniServe™ NXT serves as a unified, AI-driven 360-degree customer engagement hub. Covering regulatory, transactional, and promotional communications, it addresses the length and breadth of enterprise-wide communication needs. It empowers enterprises to deliver contextual messages at the right time, on the right channel, and in the right format. Last years focus on Generative AI led us to make strategic investments in embedding AI capabilities across our platforms and processes, laying the foundation for enhanced customer engagement, operational efficiency, and future growth.

Intense has consistently earned recognition from leading global analyst firms, with recent acknowledgements from I DC, Omdia, Celent, Aspire, and QKS Group. These industry validations underscore our commitment to customer-centric innovation and affirm the strength of our technology vision, execution, and product portfolio.

Building Sustainable Growth

? AI-Powered and IP-enabled Innovation

At the core of Intense Technologies growth strategy lies our AI-powered and IP-enabled platforms, designed to address the evolving needs of enterprises in an increasingly digital-first world. By embedding Generative AI and Agentic AI frameworks into our platforms, we enable clients to deliver hyper-personalized customer engagement, reduce customer service costs, and streamline operations.

Our IP-led approach gives us a strong competitive edge, ensuring that our platforms are not only differentiated but also scalable and future- ready. We enable easy change management in customer communications, helping enterprises adapt swiftly to evolving customer needs. By understanding preferences through behavior and engagement patterns, businesses can personalise offerings, launch targeted campaigns, and ensure communication reaches the right person, through the right channel, at the right time. With intelligent campaign orchestration, organizations achieve measurable outcomes, enhanced customer experience, improved retention, higher conversions, and greater operational efficiency. Customer engagement remains at the heart of our business. With AI-powered platforms and omnichannel delivery capabilities, we help enterprises drive personalization, governance, and compliance, creating differentiated experiences that translate into measurable business outcomes.

? Onboarding Experienced Leadership

To accelerate our growth journey, we have strengthened our teams with experienced leadership in sales and delivery, ensuring that we leverage both domain knowledge and market insights to unlock new growth opportunities. Backed by professional management and a strong pedigree of talent, we are building an organization that combines strategic foresight with execution excellence. This foundation positions us to scale faster, respond to market shifts with agility, and deliver greater value to our customers and stakeholders.

? Global Expansion

Our global expansion strategy continues to gather momentum, supported by new footprints in key international markets and deeper penetration into regions where digital transformation is accelerating.

Financial Highlights-FY25 (In Rs. Lakhs)

Consolidated Performance

? Strong Revenue Growth: Revenues increased 31.9% YoY to Rs.15,370.31 in FY 2024-25, compared with Rs.11,651.11 in FY 2023-24, reflecting robust business momentum.

? Stable Profitability: Profit Before Tax stood at Rs.2,037.87, broadly in line with Rs.1,999.89 in the previous year, highlighting the ability to sustain margins at a higher scale.

? Steady Earnings Growth: Profit After Tax improved to Rs.1,632.31, from Rs.1,563.63 in FY 2023-24, demonstrating consistent earnings delivery.

? Earnings Per Share: Basic EPS rose to Rs.7.00 in FY

2024-25 against Rs.6.66 in FY 2023-24, reflecting improved overall performance.

Standalone Performance

? Healthy Revenue Momentum: Revenues grew 25.3% YoY to Rs.13,130.18 in FY 2024-25, up from Rs.10,479.98 in FY 2023-24, underlining solid standalone growth.

? Profits Maintained: Profit Before Tax was Rs.1,411.45 compared to Rs.1,607.22 in FY 2023-24, while Profit After Tax stood at Rs.1,070.91 versus Rs.1,197.45. Earnings remained at a healthy level despite higher growth-related expenses.

? Earnings Per Share: Basic EPS was Rs.4.59 compared with Rs.5.10 in the previous year, aligning with the overall profitability trend.

Key Insights

? Revenue scale-up remained the highlight, with strong double-digit growth across consolidated and standalone levels.

? Earnings remained resilient, with consolidated profits improving and standalone performance maintaining strength despite investments.

? Financial performance reflects consistency, resilience, and the ability to balance growth with profitability.

? The year reinforced a strong foundation for future expansion, with stability in core metrics and momentum in topline growth.

Key Consolidated Ratios

Particulars	Unit of Measurement	FY25	FY24	Variation in %	Reason for variance (where the change in the ratio is more than 25% as compared to the preceding year)
Current Ratio	In multiple	4.43	4.83	(8.27%)	- There is negligible debt outstanding and hence higher coverage ratio - The reason for decrease in % of Return on Equity and Return on Investment ratios is due to decline in margins compared to last year.
Debt-Equity Ratio	In multiple	0.23	0.18	29.06%
Debt Service Coverage Ratio	In multiple	186.91	96.77	93.14%
Return on Equity Ratio	In %	12.51%	14.28%	(12.37%)
Inventory Turnover Ratio	In Days	-	-	-
Trade receivables Turnover Ratio	In Days	137.00	157.00	(12.74%)
Trade payables Turnover Ratio	In Days	11.00	10.00	10.00%
Net Working Capital Turnover Ratio	In Days	126.00	147.00	(14.29%)
Net Profit Ratio (PBT)	In %	13.60%	17.47%	(22.12%)
Return on Capital Employed	In %	14.43%	15.51%	(7.00%)
Return on Investment (Assets)	In %	10.36%	12.10%	(14.43%)

Key Standalone Ratios

Particulars	Unit of Measurement	FY25	FY24	Variation in %	Reason for variance (where the change in the ratio is more than 25% as compared to the preceding year)
Current Ratio	In multiple	2.24	1.90	18.08%	- There is negligible debt outstanding and hence higher coverage ratio - The reason for decrease in % of Return on Equity and Return on Investment ratios is due to decline in margins compared to last year.
Debt-Equity Ratio	In multiple	0.36	0.33	8.15%
Debt Service Coverage Ratio	In multiple	137.69	77.40	77.89%
Return on Equity Ratio	In %	8.85%	11.56%	(23.49%)
Inventory Turnover Ratio	In Days	-	-	-
Trade receivables Turnover Ratio	In Days	129.00	147.00	(12.24%)
Trade payables Turnover Ratio	In Days	65.00	80.00	(18.75%)
Net Working Capital Turnover Ratio	In Days	IGHT>64.00	68.00	(5.88%)
Net Profit Ratio (PBT)	In %	11.08%	15.64%	(29.15%)
Return on Capital Employed	In %	10.88%	13.02%	(16.39%)
Return on Investment (Assets)	In %	6.59%	8.63%	(23.60%)

Our Focus

? Empowering Enterprises with AI-Powered Customer Communications and Engagement

As enterprises grapple with fragmented communication systems and rising customer expectations, our UniServe™ NXT Centralized Communication Hub serves as a mission-critical platform that delivers

hyper-personalized, contextual, and compliant interactions at scale. By embedding advanced AI capabilities, we help organizations achieve intelligent automation, improve customer satisfaction, and drive tangible bottom-line growth.

? Expanding Market Share in Key Geographies

We are also committed to expanding our market share in key geographies, with a strong emphasis on the U.S., UK, and EMEA. Weve narrowed our focus from the past to specific geographies to ensure a sharper strategic focus.

? Deepening Value with Existing Customers

Our priority is to deepen relationships with our existing customers by delivering continuous value and innovation. By aligning more closely with their evolving business needs, we aim to unlock new opportunities within current engagements, drive higher adoption of our platforms.

? Driving Net-New Growth in the Indian Market

We are committed to expanding our footprint in the domestic market by onboarding new clients across industries.

? Focus on Digital Communications Governance

As enterprises face rising regulatory pressures and heightened expectations around transparency, compliance, and data security, digital communications governance has become a mission-critical priority. By emphasizing governance-led communication solutions, we aim to reinforce our credibility as a trusted partner who not only enables efficiency and personalization but also ensures organizations remain compliant and resilient in a fast-changing regulatory landscape.

Our Strengths

? Trusted by Fortune 500 companies, our end-to-end digital ecosystems empower organizations to modernize operations, enhance customer engagement, and unlock measurable business value. With a growing global footprint across the US, UK, Middle East, and India, we are a multinational enterprise software company built on innovation and resilience.

? Our IP-led solutions form the backbone of this success. Deeply embedded into our customers operations, these platforms have not only driven adoption but also set new benchmarks for efficiency and scale. The growing demand for our technology- driven services underscores the relevance of our intellectual property, affirming our expanding industry influence and reinforcing our long-term growth trajectory.

Our Competition

Intense Technologies overall platform consists of five modules, which are sold independently and together. While there is competition in each domain, very few players bring all these capabilities together under one unified roof. This gives us the unique ability to cross-leverage data and insights across modules, translating into smarter decisions and more meaningful outcomes for our clients. We have consistently demonstrated our ability to stand out, winning against global brands and, in several cases, successfully replacing them with our differentiated, IP-led technology offerings.

Risks Faced by The Company

Technological Disruption and Market Dynamics

AI is rapidly disrupting technology, and at Intense Technologies, we are proactively embracing this shift to stay ahead of the curve. Rapid advancements can change market paradigms and render existing business models less relevant. While Intense Technologies is proactively integrating AI across its platforms to drive innovation and efficiency, we acknowledge the inherent risks; as businesses continue to shift their technology priorities, this disruption also signals the opening up new opportunities for us to deliver greater value.

Geopolitical Events

Changes in geopolitical conditions and unforeseen black swan events can materially impact business operations and revenue. Political instability, trade restrictions, sanctions, or changes in regulatory frameworks across key geographies can affect market access and customer spending patterns. While we actively monitor global developments and implement contingency plans, such events may lead to revenue fluctuations, increased costs, or delays in strategic initiatives.

Our approach includes diversification across geographies, robust risk management practices, and agile operational strategies to mitigate potential adverse effects, ensuring business continuity and long-term resilience.

Long sales cycles

Our solutions are mission-critical, and sales decisions often reach the C-Suite. This multi-tiered decisionmaking process can extend sales cycles, delay contract closures, and impact the timing of revenue recognition.

To align with this, we have structured our platform into five distinct offerings that can be adopted independently or scaled together. This flexibility allows us to start small, engaging with VP-level stakeholders on focused needs and then expand deeper within the enterprise over time. By proving value at each stage, we build credibility, strengthen relationships, and position ourselves for broader enterprise-wide adoption.

Relationships in International Markets

Lack of an established presence can slow pipeline development and delay revenue recognition. To accelerate pipeline development and strengthen our foothold in newer markets, we are partnering with local rainmakers who bring deep industry connections and market credibility. This approach allows us to shorten the time to market, build trust faster, and create a more secure foundation for long-term growth.

Evolving Customer Requirements

With constrained budgets, many customers are experiencing a hampered ability to pay for large-scale technology investments. Such dynamics can lengthen sales cycles, compress margins, and create operational challenges in meeting customer expectations without compromising quality or profitability. However, it also opens opportunities for us to showcase the flexibility of our modular offerings.

Opportunities and Risks in the Government Vertical

Our entry into the government vertical has unlocked significant opportunities, as governments remain among the highest spenders even during economic slowdowns. While this provides a stable and scalable revenue source, it also introduces the challenge of longer cash conversion cycles.

IP-Protection technology

There can be instances of misappropriation of our technological expertise or reverse engineering of our solutions. Legal standards and the scope of protection in many countries may not provide adequate protection to our proprietary technology/technologies.

We have 24 registered copyrights, 3 patent applications, and one PCT application. Most notably, it was granted a patent titled "Method for Rule-Based Control Processing of Multiple Input Data Ingestions in Parallel" (Patent No. 6529/CHE/2015). This innovation dramatically improves large-scale data ingestion and processing, helping enterprises manage massive datasets with greater speed, accuracy, and intelligence.

Our Business Development Strategies

? Green Shoots of Growth: We are steadily seeing green shoots of growth, driven by our ability to create industry-focused, IP-led solutions that continue to resonate strongly with enterprises across verticals. These strengths are creating stronger entry points, allowing us to deepen relationships and accelerate cross-sell and up-sell opportunities.

? Award-winning Portfolio: Our capabilities, ranging from customer communications, digital customer engagement, data management, and Low-Code Application Development, have positioned us as a critical partner for large enterprises navigating complex digital transformation journeys. These differentiated capabilities are enabling us to deepen engagements, expand cross-sell and up-sell opportunities, and capture large-scale transformational deals that redefine the way businesses operate.

? AI-Powered Innovation: AI-powered innovations remain at the core of our strategy. With Generative AI and Agentic AI, we are reimagining enterprise solutions to deliver hyper-personalization, autonomous decision-making, and workflow acceleration, helping organizations unlock speed-to-value and competitive differentiation.

? Land and Expand Strategy: We are successfully adopting a land-and-expand approach, starting with focused solutions that address immediate customer needs and then scaling across the enterprise.

? Global Market Expansion: We are also strengthening our business development, sales, and marketing engines, supported by long-term investments in leadership, talent, delivery, and innovation. These efforts are not only fueling pipelines across geographies but also ensuring that we stay ahead of evolving market expectations.

Market Potential

? According to Fortune Business Insights, the global artificial intelligence market size was valued at USD 233.46 billion in 2024. The market is projected to grow from USD 294.16 billion in 2025 to USD 1,771.62 billion by 2032, exhibiting a CAGR of 29.20% during the forecast period.

? As perMarketsandMarkets, the customer engagement solutions market size is expected to grow to USD 32.2 billion by 2027.

Recommendations

? Businesses are increasingly adopting intelligent automation tools to streamline processes, eliminate redundancies, and improve accuracy. By automating repetitive and rule-based tasks, they aim to achieve cost savings while freeing up talent to focus on innovation, customer engagement, and strategic initiatives.

? Governance mandates remain central to every transformation journey. Enterprises embed data security, regulatory compliance, and proactive oversight into their digital programs to protect customer trust and build long-term resilience.

? AI is reshaping operations by enhancing decisionmaking, reducing costs, and uncovering new revenue opportunities. Enterprises leverage AI to minimize operational inefficiencies, prevent revenue leakage, and optimize technology ROI. With AI, organizations are shifting from reactive to proactive, driving smarter and more impactful business outcomes.

? Agentic AI platforms are now enabling dynamic, real-time, and human-like engagement across multiple channels to enhance customer experience, secure incremental revenues, and strengthen longterm growth through actionable AI-led interactions.

Awards and Recognitions

? Received double recognition as a Major Player in the I DC MarketScape: Worldwide Intelligent Customer Communications Management 2024 Vendor Assessment (Doc # US51359124, December 2024) and IDC MarketScape: Worldwide Automated Document Generation and Customer Communications Management 2024 Vendor Assessment (Doc# US52111324, December 2024).

? UniServe™ NXT sustained its leadership in Gartner Peer Insights (scoring 4.9/5) - Source

? Recognized as a Leader on Aspire Leaderboard for Interaction Experience Management (IXM), 20242025

? Patent to revolutionise large-scale data handling, enhancing efficiency and intelligence in data processing; granted a patent for our innovative "Method for Rule-Based Control Processing of Multiple Input Data Ingestions in Parallel" (Patent No. 6529/CHE/2015).

? Recognized as a Challenger for Customer Communication Management by Omdia Universe

? Received Excellence in IT Solutions Award from the Ministry of Textiles, Government of India

? In10s felicitated at the ELETS BFSI Game- changer Summit for Centralized Communication Governance, 2024

? Named as a Luminary Solution in Celent CCM Global Insurance Report

? Recognized in the SPARK Matrix for Customer Communications Management by QKS Group

Material developments in human resources / industrial relations, including the number of people employed Human capital

People are our greatest asset, and we are committed to building a high-quality, professional workforce. We are onboarding talented professionals and aligning them with clear KPIs to drive accountability and performance.

Recruitment

To strengthen our organization, we are bringing in seasoned, high-quality talent with deep industry expertise, as opposed to our existing homegrown talent. We are building a stronger, more agile organization that can respond effectively to market opportunities

Training and Development

We are committed to empowering our teams with the latest AI tools and technologies, ensuring they can work more efficiently. In addition, we provide a wide range of upskilling opportunities through curated programs on Coursera, covering emerging technologies, leadership, and domain-specific skills. By fostering a culture of continuous learning, we not only equip our employees with future-ready capabilities but also drive innovation, adaptability, and long-term career growth within the organization.

Compensation

Compensation is closely linked to performance, reinforcing accountability and driving results. On the sales front, we have shifted to a quarterly performance model, with incentives aligned to quarterly outcomes rather than annual targets, encouraging focus and agility. We have also tightened our weekly reviews to ensure teams stay on track, enabling proactive course corrections and fostering a culture of continuous improvement.

Internal Control Systems & Their Adequacy

Intense has established a comprehensive internal control framework designed to safeguard assets, ensure accuracy and reliability of financial reporting, and support seamless execution of projects and services. The framework is well integrated with the Companys business model of delivering platform- led, IP-driven digital transformation solutions across BFSI, telecom, and government sectors. Clearly defined policies, documented standard operating procedures (SOPs), and accountability structures guide financial, operational, and compliance processes.

The internal audit function operates independently and reports directly to the Audit Committee of the Board. Periodic reviews are conducted to evaluate adherence to statutory requirements, internal policies, and contractual obligations. Specific emphasis is placed on revenue assurance, cost efficiency, data security, and regulatory compliance in technology delivery. Based on the reviews by auditors, management, and the Audit Committee, the Board affirms that Intenses internal control systems were adequate and effective as on March 31, 2025, and no material weaknesses were observed.

Cautionary Statement

This Management Discussion and Analysis (MD&A) contains forward-looking statements that reflect the current expectations and outlook of Intense Technologies Limited with respect to business performance, growth strategies, and market opportunities. These statements are based on managements assessment of prevailing economic and industry conditions, internal strategies, and other factors considered relevant at the time of reporting.

However, such statements are inherently subject to risks and uncertainties, including changes in macroeconomic conditions, regulatory frameworks, technological disruptions, competitive dynamics, and global market developments, which may cause actual outcomes to differ materially from those expressed or implied. While these assumptions are considered reasonable, there can be no assurance of their accuracy or completeness. Intense Technologies undertakes no obligation to update these statements, except as required by applicable law. This MD&A should be read in conjunction with the audited financial statements and related disclosures forming part of the Annual Report for the year ended March 31, 2025.