Newgen Software Technologies Ltd Management Discussions

Company Overview

Newgen Software Technologies Ltd. orchestrates intelligent enterprises at scale. The NewgenONE Platform unifies content, processes, and communications into an orchestration layer where intelligence is embedded into how enterprises operate, with trust, governance, and in-built control. Enterprises move beyond fragmented initiatives to continuously adaptive, production ready operations. Decisions, workflows, and experiences evolve in real time, shaped by context, data, and embedded AI. Trusted by leading organizations worldwide, Newgen defines how modern enterprises operate, intelligently and at scale.

Newgen has consistently led business transformation, serving approximately 500 active clients globally. With an esteemed clientele spanning India, the USA, Canada, UAE, Saudi Arabia, the UK, Philippines, Indonesia, Singapore, and Australia, the company delivers enterprise solutions tailored to diverse industry sectors. Newgen is recognized as a trusted partner for leading banks, insurance companies, healthcare organizations, government entities, telecommunications firms, shared service centres, and BPOs worldwide. Its low-code horizontal platforms support complex, industry-specific vertical solutions and use cases ranging from onboarding and service requests to lending, underwriting, and beyond.

The Company is successfully certified and assessed for ISO 9001 and ISO 27001. Newgen is also Great Place to Work Certified.

Newgen continued to be recognized by industry analysts including Gartner in the Magic Quadrants and Forrester in the Wave reports. The Company was recognized as:

- A Leader in The Forrester WaveT: Content Platforms, Q1 2025

- A Strong Performer in The Forrester WaveT: Digital Process Automation Software, Q3 2025

- A Contender in The Forrester WaveT: Insurance Agency Management Systems, Q4 2025

- A Niche Player in Gartnerr Magic Quadrant for Business Orchestration and Automation Technologies

- A Leader in IDC MarketScape: Worldwide Corporate Loan Origination Systems 2025 Vendor Assessment (#US52035124, July 2025)

- A Leader in IDC MarketScape: Worldwide Corporate Loan Lifecycle Management 2025 Vendor Assessment (#US52035024, September 2025)

- A Leader in IDC MarketScape: U.S. Provider Data Management for Payers 2025-2026 Vendor Assessment (#US52986825, December 2025)

- Major Contender in Underwriting Orchestration for Property and Casualty (P&C) Insurance - Products PEAK Matrixr Assessment 2025

- Major Contender in Low-code Application Development Platforms PEAK Matrixr Assessment 2025 - Focus on Intelligence and Decision Support

- Major Contender in AI-enabled Claims Management Systems for Property & Casualty (P&C) Insurance - Products PEAK Matrixr Assessment 2025

The Company has also been recognised in various Landscapes and Market Guides including:

- Gartnerr Market Guide for Government Grant Management Solutions

- Gartnerr Market Guide for Commercial Loan Origination Solutions.

- Gartnerr Market Guide for Commercial Banking Trade Finance

- Gartnerr Market Guide for Commercial Banking Cash Management

- Gartnerr Market Guide for U.S.Healthcare Payers Provider Network Management Applications

- Gartnerr Market Guide for U.S. Healthcare Provider Credentialing

- Gartnerr Hype Cycle for U.S. Healthcare Payers

- Gartnerr Hype Cycle for Bank Lending

- Forresters The Document Mining and Analytics Platforms Landscape, Q4 2025

- Forresters The Accounts Payable Invoice Automation Software Landscape, Q4 2025

- Forresters The Insurance Agency Management Systems Landscape, Q3 2025

- Forresters The Digital Process Automation Software Landscape, Q2 2025

The Company is focused on continuous innovation and technology absorption to develop and deliver beneficial use platforms and solutions. As of March 31,2026 Newgen has filed for 67 patents and granted 25 patents across India and US. 25 patents are currently under processing. Moreover, in line with the commitment to leading-edge technology adoption, Newgen has seamlessly integrated emerging technologies such as Robotic Process Automation (RPA), Cloud, AI & ML and Generative AI into its platforms and solutions.

The Company has launched AI agents for growth and Application Development & Productivity called LumYn, Harper and Marvin for smarter and faster application development, market effectiveness, real-time extraction of insights, and next-level content automation.

The Company has a resilient business model in place with large annuity revenue streams and diversification across customers and geographies. Moreover, the Companys solutions are of mission critical nature for the long-term customers which serves as the backbone to their operations.

Our Platforms NewgenONE Platform

NewgenONE provides enterprises with an Al-first foundation for decision intelligence, unifying content, processes, communication, and data on a single, low-code platform. It offers five core intelligence pillars: Content, Communication, Process, Data Science and Agentic. Combining these intelligent pillars, it drives intelligent automation at scale, helping enterprises operate smarter, faster, and with greater agility.

NewgenONE Contextual Content Services (ECM)

The platform manages the entire content lifecycle from origination to disposition. Content is captured from multiple sources (paper scans, digital uploads, emails, etc.) and consolidated in a secure, centralized repository accessible across the organization. Advanced AI algorithms are then used to analyze and enrich this content. Documents are automatically classified by type, key data points are extracted, and metadata tags are auto-filled, reducing manual effort in organizing information. Natural Language Processing (NLP) enables intuitive search and Q&A on documents, allowing users to ask questions in plain language and have the system find the relevant document and answer, pinpointing the needed information within seconds.

NewgenONE Intelligent Process Automation (BPM)

Process Intelligence provides intelligent automation of business processes by integrating case management with AI-driven optimization, decision-making, and end- to-end orchestration. It elevates process automation into process intelligence by not only automating workflows but also making them adaptive, predictive, and insight-rich. With NewgenONE, the workflows monitor themselves, learn, and improve over time, incorporating AI recommendations to make better decisions at each step.

NewgenONE Omnichannel Customer Engagement (CCM)

The platform provides a unified communication platform that manages all outbound and interactive communications with intelligence for design, personalization, and feedback analysis. It has end-to-end capabilities for template design, content management for communications, document and output generation, and multi-channel distribution.

AI Low Code Application Development

Low Code Application Development helps in rapidly composing complex mission-critical applications with enterprise-grade sturdiness and built-in agility for change by leveraging low code across process, content, communication, and AI.

NewgenONE AI Agents

Newgen allows enterprises to deploy intelligent, domain- aware AI agents that can act on behalf of users to execute tasks, make decisions, and orchestrate processes. These AI Agents are deeply integrated with enterprise data and workflows. NewgenONE AI Agents are purpose- built, self-driven entities designed to drive intelligent process automation with minimal human intervention.

NewgenONE Data & Document Science Platform

NewgenONE Data & Document Science Studio workflow typically involves: data preparation, where data from various sources (databases, data lakes, Excel files, content repositories, APIs) is brought in and cleansed/ filtered; model development, where users employ a drag-and-drop interface to build machine learning pipelines - selecting algorithms, setting parameters, and so on; model training and evaluation, which can be done on the NewgenONE AI Cloud environment or on-premise infrastructure, with features to auto-tune and validate models; and finally deployment, where a validated model is published as a service that the rest of NewgenONE can consume. The platform provides pre-built connectors for data sources, a rich library of ML algorithms and pre-trained models, and automated machine learning (AutoML) capabilities to suggest best-fit models.

Our Solutions

Our purpose-built solutions, built on our platform and deployed on cloud, on-premises, or in a hybrid environment, can help streamline end-to-end processes and future-proof an organization. We provide vertical solutions in Banking and Financial Services, Insurance, Government/ PSU, Healthcare, Shared services and other industries.

Industry overview

As digital transformation accelerates globally, there is rising demand for better customer experiences and personalised communication. Enterprises are turning to low-code platforms for efficiency, while hyper-automation-using RPA, AI, ML, and low-code tools-is also becoming popular. Key drivers include the digitalisation of manufacturing, broader adoption of AI/ML, and industry-wide process optimisation. Process-agnostic software remains in high demand as enterprises embrace digital change.

Worldwide IT spending is expected to total $6.2 trillion in 2026, an increase of 10.8% from 2025, according to the latest forecast by Gartner, Inc.

Worldwide IT Spending Forecast (Millions of U.S. Dollars)
	2025 Spending	2025 Growth (%)	2026 Spending	2026 Growth (%)
Data Center Systems	496,231	48.9	653,403	31.7
Devices	788,335	9.1	836,417	6.1
Software	1,249,509	11.5	1,433,633	14.7
IT Services	1,717,590	6.4	1,866,856	8.7
Communications Services	1,303,651	3.8	1,365,184	4.7
Overall IT	5,555,316	10.3	6,155,493	10.8

Source: Gartner, February 2026

https://www.gartner.com/en/newsroom/press-releases/2026-02-03-gartner-forecasts-worldwide-it-spending-to-grow-10-point-8-percent-in-

2026-totaling-6-point-15-trillion-dollars

According to Gartner Market Estimates, the global content services platform market is estimated at $18.4 billion in 2025. It is forecasted that Content services platform market will be $25.8 billion by 2030 (*1). The business process automation market is estimated at $2.98 billion in 2025. The business process automation market is estimated to reach $3.7 billion by 2029 (*2).

Financial performance Consolidated financials in ^ lakhs

(All amounts in INR lakhs)	FY 2026	FY 2025
Revenue
Revenue from operations	1,57,439.56	1,48,687.92
Other income	6,700.83	6,357.59
Total revenue	1,64,140.39	1,55,045.51
Expenses
Employee benefits	74,227.10	74,104.38
Finance costs	546.78	477.20
Depreciation and amortization	3,659.74	3,304.13
Other expenses	42,635.03	36,963.01
Total expenses	1,21,068.65	1,14,848.72
Proft before exceptional items and tax	43,071.74	40,196.79
Exceptional Item	4,342.65
Profit before tax	38,729.09	40,196.79
Profit after tax for the year	30,057.64	31,524.24
Other comprehensive income/(loss) for the year, net of income tax	2,745.21	354.49
Total comprehensive income for the year	32,802.85	31,878.73

Revenue from operations

The Companys business has multiple revenue streams including:

Annuity-based revenue: periodic fees or charges from the following sources:

- SaaS: It refers to on-premises subscription payments for licences related to cloud-deployed platforms.

- ATS/AMC: It is a yearly fee for technical assistance, licence maintenance (including upgrades) and installation.

- Support: It is the fee for services related to development and assistance.

- Sale of software products: It denotes a one-time upfront license cost for the on-premises platform.

- Sale of services: Services are sold with milestone- based fees for development and implementation as well as fees for scanning services.

On a consolidated basis, the Companys revenue from operations stood at 3 157,439.56 lakhs, increasing at 6% in FY26 as against 3 148,687.92 lakhs in FY25, driven by strong growth in annuity/ subscription based revenues.

The Company witnessed growth in business from existing banking customers, as well as healthy new logo additions - 47 in FY26. There has been a notable increase in the revenue per customer.

For the year, the annuity-based revenues were at H 96,834.54 lakhs, comprising 62% of our revenues.

Segment-wise performance

In terms of geographies, USA and APAC were the strongest growing markets for Newgen during the year, witnessing 17% and 14% YoY growth respectively, driven by customer journey transformations especially in the Banking and Financial services and Insurance sector. EMEA and India geographies continue to be the largest revenue contributor

The Banking and Financial Services vertical continued to be the largest segment of revenue, comprising 68% of the revenues during the year, followed by Government/PSU (8%), Insurance and Healthcare (16%).

Profit and Margins

Profit after Tax stood at 3 30,057.64 in FY26, as against 3 31,524.24 lakhs in FY25. This included one-time exceptional items on account of impact of labour code and provision for legal claim.

Share Capital

During the financial year, the Authorised Share Capital of the Company stood at 3 18,010 lakhs. The issued, subscribed and paid-up equity share capital of the Company, as of March 31, 2026, is 3 14,231.78 lakhs divided into 142,317,787 Equity shares of 3 10 each (including shares held by Newgen ESOP Trust).

Other Equity

Other Equity as of March 31,2026, was 31,63,619.00 lakhs. During the year, the Company earned a net profit of 3 30,057.64 lakhs. Newgen has declared a dividend of 3 6 per share.

Property, Plant and Equipment, Capital Work in Progress and Intangible Assets

As of March 31,2026, property, plant and equipment stood at3 1 6,305.21 lakhs against 3 1 7,216.45 lakhs, as of March 31, 2025. Key additions to the fixed assets were the purchase of additional computers for normal business activities, setting up of office premises and purchase of office assets.

The right-of-use assets stood at 3 6,853.84 lakhs as against 3 7,742.66 lakhs as of March 31,2025. The intangible assets of the Company are at 3 463.71 lakhs.

Capital work in progress represents the amount spend on construction of office campus in Noida location.

Investments

The aggregate fair value of investments in unquoted bonds and mutual funds is 3 70,307.70 lakhs.

Trade receivables

The trade receivables (net of allowances and credit impairments) as of March 31,2026, are 370,824.02 lakhs, against 3 55,667.98 lakhs on March 31,2025. During the year, Debtor Days (net) stood at 164 days as compared to 138 days as of 31 March 2025.

Contract Assets

Contract assets (net) pertaining to amounts recognised, based on services performed in advance of billing, in accordance with contract terms were accounted to the extent of 3 12,730.83 lakhs.

Cash and cash equivalent and other bank balances and Cash Flow

Cash and Cash Equivalents stood at 3 10,353.35 lakhs and other bank balances stood at 3 30,798.71 lakhs as of March 31, 2026. The Companys net cash generated from operating activities was at 3 23,185.93 lakhs in FY26, compared to 3 21,497.67 lakhs in FY25

Current liabilities

Current liabilities represent borrowings, trade payables, other financial liabilities, deferred income, short-term provisions and other current liabilities. As of March 31, 2026, the total current liabilities are 3 54,992.85 lakhs (3 43,230.62 lakhs as of March 31, 2025). Out of these, the deferred income comprises 3 30,516.93 lakhs.

Key financial ratios

Sr. No. Particulars	FY 2026	FY 2025
1 EBITDA margin (%)	25.78%	25.30%
2 Net profit margin (%) on revenue	19.09%	21.20%
3 Return on Equity ratio (%)	18.25%	23.01%
4 Trade Receivable turnover ratio	2.60	2.92
5 Return on capital employed (%)	22.45%	24.47%

Opportunities and challenges

Opportunities

As digital transformation accelerates, demand for advanced software is increasing. Content management remains central to this shift. Newgens strong portfolio- including content management, process automation, customer communications with AI cloud capabilities, and skilled talent-positions it well to seize market opportunities. Adoption of cloud-based solutions, focus on compliance, and rising interest in Generative AI, Artificial Intelligence, and Machine Learning are expected to expand opportunities for the Company. Moreover, Banking and Insurance sector growth and evolving requirements are expected to further expand demand.

Challenges

The various challenges that the Company addresses include uncertain global economic conditions; changes in fiscal, economic or geopolitical conditions globally, currency risks; increasing competition; talent availability, changing technologies and regulatory changes in the industry the company operates in and increasing consolidation in the industry.

Risk Management

Risk	Description	Mitigation measures
Uncertain environment and business continuity Risk	Global economic uncertainties, recessions, currency exchange fluctuations and geopolitical tension may impact financial performance of the Company and reduce customer spending. Economic downturns could also lead to reduced customer spending on software solutions. Natural disasters, human-caused incidents, and conflicts can result in significant disruptions to business operations, the demand environment, and customer service. The Company may encounter business continuity risks if it fails to maintain uninterrupted operations across its clients, delivery sites, and supporting functions.	Newgen is committed to consistently monitoring and effectively responding to disruptive events in todays complex and rapidly changing global environment. To address market-specific risks, the company works to reduce reliance on any single region by expanding its client base across both established and emerging markets, now serving around 500 active clients. In response to policy challenges, Newgen focuses on strengthening its regional presence and hiring local talent, while remaining mindful of economies of scale and costs. Additionally, to manage environmental changes, the company has a Business Continuity Plan designed to minimise the impact of business interruptions. The Company has also undertaken advisory services from a reputed global consultancy firm in this area.

Risk	Description	Mitigation measures
	The industry in which Newgen operates is characterised by rapid technological advancements, evolving delivery models, heightened standards in software development, and continual enhancements to communications infrastructure. The sector also experiences increasingly sophisticated customer requirements and frequent introductions of new or improved products. Disruptive technologies such as AI, cloud computing, big data, social platforms, and smart devices are fundamentally transforming business operations. Failure to effectively adapt to or innovate alongside these emerging technologies may lead to competitive disadvantages. The Companys success relies on its capacity to anticipate market trends, as well as to design, develop, test, market, license, and support new or enhanced software solutions in a timely manner, addressing both competitive pressures and industry developments, while maintaining robust cybersecurity.	The Companys constant investments in Research and Development (R&D) and intellectual property positions it at the forefront of technological trends and changes, supporting effective risk mitigation. Through proactive monitoring and adaptation to emerging technologies, the Company maintains agility and leverages advancements to enhance its solutions and offerings.
Technology/ obsolescence, Security and Data Privacy Risk		A strong emphasis on cybersecurity is maintained to counteract the risks associated with cyberattacks, data privacy breaches, and other digital threats. Newgen remains committed to upholding stringent security policies and procedures-including ISO certifications, CMMI Assessments and other International Benchmarks/standards -complemented by continuous monitoring, regular audits, and robust security frameworks designed to safeguard systems and data. Additionally, comprehensive training and awareness programs are conducted to ensure organizational vigilance and resilience against potential cyber incidents.
	As digital interconnectivity grows, the risks associated with cyberattacks, data breaches, and ransomware incidents become increasingly significant. Such events can lead to the loss of confidential information, legal liabilities, reputational harm, and financial consequences.
Artificial Intelligence (AI), AI enabled Cyber and Regulatory Compliance Risk	The increasing use of Artificial Intelligence (AI) in software products, delivery processes, and internal operations presents risks related to accuracy, reliability, explainability, bias, data privacy, confidentiality, intellectual property, and evolving regulatory expectations. In addition, frontier AI systems and orchestrated AI tooling are increasingly capable of identifying vulnerabilities, chaining weaknesses and accelerating exploit development in software environments; recent industry developments involving models such as Mythos and GPT 5.5 Cyber have heightened concern that such capabilities may be used to target critical software and shared digital infrastructure more rapidly than traditional defensive cycles can respond. Newgen supplying to the highly regulated BFSI sector, such misuse could increase the risk of compromise of banking and financial application environments, APIs, integrations, payment-related workflows, customer data and other critical services, leading to regulatory non-compliance, contractual exposure, operational disruption, customer impact, reputational harm and financial consequences.	Newgen is strengthening governance over AI adoption and AI-related cyber risk through a risk-based approach covering use-case approval, human oversight, model governance, data protection safeguards, access controls, secure development practices and legal / regulatory review. To address the emerging threat of AI-assisted vulnerability discovery and exploitation, the Company continues to strengthen secure product engineering, software supply chain governance, code review, vulnerability management, dependency governance, patch prioritisation, exploitability validation, red-teaming, continuous monitoring and incident response preparedness. The Company also focuses on reducing exposure across critical environments through hardening measures, segmentation, strong authentication, third- party oversight, resilience testing and use of appropriate defensive automation so that vulnerabilities in product, cloud and connected ecosystems can be identified and remediated with greater speed and discipline.
Risk	Description	Mitigation measures
Regulatory and Compliance Risk	Evolvi ng data protection laws (such as G DPR, HIPAA, DPDPA and local data residency regulations as applicable) require ongoing compliance efforts. Non-compliance can lead to substantial fines, operational disruption, and reputational harm.	Ongoing monitoring of global legal landscapes and regular audits help mitigate the risk
Op erationa	Risks	These include project delays, service outages, quality control failures, and supply chain disruptions, which can adversely affect client satisfaction, revenues, and operational efficiency.
The Company has setup internal controls and mechanisms for monitoring and controlling such risks
Intellectual Property Risks	Our value proposition is significantly tied to our proprietary technologies. Any failure to adequately protect our IP, or inadvertent infringement of third-party IP, can lead to costly litigation and erosion of competitive advantage.	The Company follows a strong patent, copyright, and trademark registration strategy. Moreover, ongoing trainings and advisories on IP and open-source licensing risks are provided from time to time.
Currency risk	With around 70% of revenues originating from international markets, Newgen is consistently vulnerable to unexpected fluctuations in exchange rates, which have the potential to impact the Companys revenue and profits.	The Company has implemented a comprehensive hedging strategy to effectively manage currency risks. Further, export collections and payments are made through EEFC account to minimise currency fluctuations.
Talent Management/ Attrition Risk	The Companys business depends largely upon its highly skilled technology professionals and its ability to hire, attract, motivate, retain and train these personnel. Any inability to maintain a skilled and motivated team of professionals or supply chain disruptions can affect the business.	As a Company, there is strong focus on nurturing the existing workforce and attracting new talent through Newgens various HR policies and initiatives. The Company also has a defined Employee Stock Options and Restricted Stock Units scheme.
Credit Risk	Customer credit risk refers to the potential of customers defaulting on their financial obligations.	The Company has implemented credit guidance and regularly monitors its exposure to credit risks. Credit risk is controlled through the approval process, establishing credit limits and continuously monitoring the credit worthiness of customers to which the Company grants credit term in normal course of business. Credit limits are established for each customer and reviewed quarterly.
		The Company establishes an allowance for impairment that represents its expected credit losses in respect of trade receivables.

Our strategies

Newgens strategies are based on addressing the market opportunities in enterprise platforms for ECM, BPM and CCM products and the low code and hyper-automation market, creating domain rich solution frameworks on the platform and using low code platform capabilities to create solution frameworks. These include:

Continuous Innovation

Newgen maintains a strong commitment to innovation and continuous investment to enhance its offerings and rigorously works on expansion of the product portfolio through investments in advanced features and technologies. The Company prioritizes substantial investments in Research and Development (R&D) to expand the technology stack further and boost digital transformation for customers. As of March 31, 2026, Newgen has filed 67 patents and has been granted 25 patents across India and US. 25 patents are currently under processing. Moreover, in line with the Companys commitment to leading-edge technology adoption, Newgen has seamlessly integrated emerging technologies such as Robotic Process Automation (RPA), Cloud, AI & ML and Generative AI into its solutions. The Company has created AI agents for growth, application development and enhanced productivity. The Company has developed AI agents to facilitate growth, streamline application development, and improve productivity. By closely monitoring technology trends, Newgens development teams collaborate with delivery functions to identify opportunities for scaling its products and addressing evolving customer requirements.

Business Expansion in traditional markets

The Company has a strong foothold in traditional markets of India, Middle East and Africa. The Company plans to get into deeper and long-term relationships with its customers in these markets through expanded offerings especially across Banking, Insurance and Government segments as well as tap newer market opportunities including Saudi Arabia.

Focus on attractive verticals in select mature markets

The Company plans to expand its market share across key geographies and solutions. Its platform is designed to be natively multi-lingual to address challenges in multinational organizations. Newgen has been operating in around 80 countries and believes that it has a significant opportunity to continue to grow its international footprint. It is investing in direct and indirect sales channels, professional services, customer support and channel partners to expand the geographical footprint. The Company is working on brand initiatives, specific go- to-market strategy and customer journey led offerings for mature markets including USA, Europe, Canada and Australia. Through its direct and indirect sales channels,

it plans to further grow the brand presence and partner networks in these new markets. Newgen has a strong presence across regions in the banking, financial services and insurance verticals and intends to continue to expand the customer base in these verticals in select mature markets. The Company is specifically targeting larger sized banking customers in the mature markets.

Expansion of offerings in core verticals

The Company has used the platform to create vertical domain rich products in several verticals, including banking, government/PSU, BPO/IT, insurance and healthcare. While the platforms are industry-agnostic, investments have been made to enhance the expertise of sales and marketing for key industry verticals. Newgen believes that focusing on the digital transformation needs of organizations within these industry verticals can help drive adoption of the platform. The Company is working deeper in the insurance vertical offerings and has recently added Policy Administration System in its product portfolio.

Attract, develop and retain highly-skilled employees and accelerate operational efficiencies

The Companys employees are one of its most important assets. It focuses on the quality and level of service that the employees deliver by investing in recruitment, development, retention, maintenance of a culture of innovation and by creating both a challenging and rewarding work environment. Newgens talent development strategy focuses on engaging, motivating and developing a high performing workforce and aims to create and sustain a positive workplace culture for employees. Safety of the employees is of utmost importance to the organization. In the context of the recent geo-political crisis, the Company constantly works on ensuring safety of the employees and maintaining business continuity at the same time. We are accelerating AI-led engineering, training & development, automation, and operational efficiencies across our teams. The Company has Employee Stock Option Schemes and Restricted Stock Units in place for talent retention.

Expansion through inorganic route

The Company may also explore, with extreme care, the inorganic route for expansion of product capabilities or market presence from time to time.

Internal control systems and their adequacy

The Companys systems of internal financial control comply with the requirement of Companies Act 2013. The explanation of the term Internal Financial Control for the Company, goes beyond the context of section 134(5) (e) and includes policies and procedures adopted by the Company for ensuring the orderly and efficient conduct of its business and its financial reporting.,

Newgen internal controls are commensurate with its size and the nature of its operations. These have been designed to provide reasonable assurance regarding recording and providing reliable financial and operational information, complying with applicable statutes, safeguarding assets from unauthorised use, executing transactions with proper authorisation and ensuring compliance of corporate policies. In view of the above and for safeguarding the assets of the Company, preventing and detecting fraud or other irregularities and maintaining proper books of account and to ensure adequate internal financial control, the Company is already pursuing various Standard Operating Procedures (SOPs), Vigil Mechanism and Audit Mechanism (through Internal Audit for Financial year 2025-26, Secretarial Audit, Statutory Audit and external consultants as required time to time).

Newgen also undergoes periodic audit by specialised third party consultants and professionals for business specific compliances such as Quality Management, Information Security Management, among others. It has continued its efforts to align all its processes and controls with global best practices. Our management assessed the effectiveness of the Companys internal control over financial reporting as of March 31,2026. Walker Chandiok & Co LLP, Chartered Accountants, the statutory auditors of Newgen have audited the financial statements included in this annual report and also reported on our internal control over financial reporting (as defined in section 143 of Companies Act 2013). The Audit Committee reviews reports submitted by the management and audit reports submitted by PricewaterhouseCoopers Services LLP, internal auditors and Walker Chandiok & Co LLP, statutory auditors. The audit committee also meets Newgens Statutory Auditors as well as Internal Auditors to ascertain, interalia, their views on the adequacy of internal control systems and keeps the Board of Directors informed of its major observations periodically. Based on its evaluation (as defined in section 177 of the Companies Act 2013), the Audit Committee has concluded that, as of March 31, 2026, the internal financial controls were adequate and operating effectively.

Human Resource

The Company is dedicated to fostering an inclusive workplace that supports the attainment of both personal and professional objectives. Comprehensive policies have been implemented to safeguard employee welfare and ensure alignment with the Companys core values and culture.

Throughout the year, substantial initiatives were undertaken to strengthen key organisational functions, cultivate a motivating work environment, and promote

team cohesion. The Company places particular importance on employee rewards and recognition, as well as ongoing training programs. With a consolidated workforce of approximately 4,300 individuals, the organisation is firmly focused on achieving its long-term goals. Obtaining the Great Place to Work Certification second time in a row reflects another significant milestone and commitment in enhancing employee engagement and reinforcing a positive work culture.

Outlook

Newgen is systematically advancing its transformation initiatives and growth strategy. Key priorities include targeted development and localisation of product offerings, especially in the Banking and Insurance sectors, building expertise across domains, and expanding into both established and emerging markets to reinforce its presence and capitalise on new opportunities. Additionally, the Company is identifying horizontal process applications to leverage the capabilities of NewgenONE.

The organisation remains dedicated to sustained growth through innovative solutions, increased market penetration, and strategic diversification. Newgen is accelerating AI-led engineering, training & development, automation, and operational efficiencies across teams. These initiatives are designed to position Newgen for ongoing success and leadership within the dynamic platform landscape.

Cautionary statement

Managements discussion and analysis of the financial condition and results of operations include forwardlooking statements based on certain assumptions and expectations of future events. The Company cannot assure that these assumptions and expectations are accurate. Although the Management has considered future risks as part of the discussions, future uncertainties are not limited to Management perceptions.

Sources of Market Information

1. Content Services Platform - Forecast: Enterprise Application Software, Worldwide, 2024-2030, 1Q26 Published: March 2026 Authors: Amarendra ., Kevin Quinn, Roland Johnson, Arunasree Cheparthi, Alexandre Oddos, Anand Chouksey, Julian Poulter, Chris Pang, Balaji Abbabatulla, Craig Roth, Radu Miclaus, Jim Hare.

2. Business Process- Forecast Analysis: Application Infrastructure and Middleware Software, worldwide Published: October 2025 Authors: Varsha Mehta, Nicholas Carter, Kelli Smith, Harshita Chibber.