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Affle 3i Ltd

AFFLE
NSE
1,421.60
1.10%
Last Updated:
02 Apr '26, 3:59 PM
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Affle 3i Ltd

AFFLE
NSE
1,421.60
1.10%
02 Apr '26, 3:59 PM
Company Overview
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6M
Price
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Quick Ratios

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Mkt Cap
Market Capitalization
20,010Cr
Close
Close Price
1,421.60
Industry
Industry
Advertisement
PE
Price To Earnings
45.49
PS
Price To Sales
7.73
Revenue
Revenue
2,587Cr
Rev Gr TTM
Revenue Growth TTM
19.21%
PAT Gr TTM
PAT Growth TTM
19.69%

Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue
RevenueCr
356407431499506520543602602621647717
Growth YoY
Revenue Growth YoY%
12.917.021.632.642.327.825.920.619.019.519.119.3
Expenses
ExpensesCr
287328344402408415430470468481501554
Operating Profit
Operating ProfitCr
6978879798104113131134140146163
OPM
OPM%
19.419.220.219.419.420.120.921.822.222.522.622.7
Other Income
Other IncomeCr
181010102725292119172218
Interest Expense
Interest ExpenseCr
336554432211
Depreciation
DepreciationCr
141418182019252627263233
PBT
PBTCr
70707383100107114124124129135146
Tax
TaxCr
74671320222421242527
PAT
PATCr
62666777878792100103106111119
Growth YoY
PAT Growth YoY%
-9.220.313.211.240.230.937.830.517.821.820.119.1
NPM
NPM%
17.516.315.515.417.316.716.916.717.117.017.116.6
EPS
EPS
4.75.05.05.76.56.26.67.27.37.57.98.5

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue
RevenueCr
1672493345171,0821,4341,8432,2662,587
Growth
Revenue Growth%
49.133.854.8109.332.628.523.014.2
Expenses
ExpensesCr
1221792463878691,1451,4831,7832,004
Operating Profit
Operating ProfitCr
457088130213289360483583
OPM
OPM%
27.228.226.325.119.720.119.521.322.5
Other Income
Other IncomeCr
006427154579476
Interest Expense
Interest ExpenseCr
111471119137
Depreciation
DepreciationCr
810132032497297118
PBT
PBTCr
376079148245282327468535
Tax
TaxCr
91114133036308696
PAT
PATCr
284966135215245297382438
Growth
PAT Growth%
75.434.2106.159.014.321.128.514.8
NPM
NPM%
16.619.619.626.119.917.116.116.916.9
EPS
EPS
11.520.15.210.616.218.421.927.231.3

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
Equity CapitalCr
242426262727282828
Reserves
ReservesCr
6482043331,1511,4472,4812,9343,228
Current Liabilities
Current LiabilitiesCr
4477130194429403643629625
Non Current Liabilities
Non Current LiabilitiesCr
19432002191401424733
Total Liabilities
Total LiabilitiesCr
761584027531,8272,0113,2833,6223,914
Current Assets
Current AssetsCr
48992322519431,1631,9742,1762,259
Non Current Assets
Non Current AssetsCr
29591705028848481,3091,4461,655
Total Assets
Total AssetsCr
761584027531,8272,0113,2833,6223,914

Cash Flow

Consolidated
Standalone
Financial YearMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating Cash Flow
Operating Cash FlowCr
424872102206260262426
Investing Cash Flow
Investing Cash FlowCr
-29-50-163-175-556-197-577-114
Financing Cash Flow
Financing Cash FlowCr
-4813953615-59783-92
Net Cash Flow
Net Cash FlowCr
9648-202654468220
Free Cash Flow
Free Cash FlowCr
33334152133168147266
CFO To PAT
CFO To PAT%
150.597.9109.775.395.9106.088.2111.5
CFO To EBITDA
CFO To EBITDA%
92.068.081.878.496.790.172.988.2

Ratios

Consolidated
Standalone
Financial YearMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
002,58613,91616,77813,14314,58222,595
Price To Earnings
Price To Earnings
0.00.039.5103.278.553.749.059.1
Price To Sales
Price To Sales
0.00.07.826.915.59.27.910.0
Price To Book
Price To Book
0.00.011.338.814.28.95.87.6
EV To EBITDA
EV To EBITDA
-0.4-0.328.8107.876.643.637.644.0
Profitability Ratios
Profitability Ratios
GPM
GPM%
100.0100.0100.0100.0100.0100.0100.0100.0
OPM
OPM%
27.228.226.325.119.720.119.521.3
NPM
NPM%
16.619.619.626.119.917.116.116.9
ROCE
ROCE%
123.874.527.231.719.018.612.815.8
ROE
ROE%
91.367.428.637.618.216.711.812.9
ROA
ROA%
36.630.916.317.911.812.29.110.5
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
### **Unified Consumer Platform Stack** - Built over more than two decades, this is a **unified, omnichannel consumer intelligence platform** designed for mobile-first, connected ecosystems. - Integrates multiple **Demand-Side Platforms (DSPs)** with its proprietary **ConvergeAI Supply Cloud**, enabling supply optimization and fraud prevention. - Powered by **mDMP (mobile Data Management Platform)**, which leverages deterministic and probabilistic signals to deliver hyper-personalized targeting at scale. ### **Proprietary Technologies** - **Opticks AI**: Generative AI-powered creative engine enabling real-time generation of thousands of hyper-contextual, localized ad creatives. Automates Custom Product Pages (CPPs), keyword planning, and dynamic ad variations tailored to language, region, and user behavior. - **ConvergeAI Supply Cloud**: Optimizes media supply quality and transparency across inventory channels. - **mFaaS (Fraud Analytics as a Service)**: Real-time fraud detection powered by supervised and unsupervised machine learning, analyzing data from connected devices including smartphones, IoT, wearables, and CTVs. ### **Patents & R&D** - Holds **36 unique patent filings globally**, with **16 granted** (including in U.S., India, and Singapore). Active in AI, machine learning, blockchain, conversational AI, and ad fraud prevention. - Key patents include: - *Consumable Advertising* – privacy-conscious ad delivery - *In-app ad interaction during podcasts* - *AI-based user identification and device linking* - *Cross-device fraud detection and real-time blocking* - Has filed **15+ new patent claims related to Generative AI** (2024–2025), focusing on vernacular creative generation, contextual personalization, identity resolution, and anti-fraud. Affle achieved **ISO/IEC 27001:2022 certification**, validating its robust information security and data governance practices. --- ## **Target Verticals: EFGH Framework** Affle organizes its business around four high-growth vertical categories known as **EFGH**, which collectively drive **100% of revenue**: - **E**: E-commerce, Entertainment, EdTech - **F**: Fintech, Foodtech, FMCG - **G**: Gaming, Groceries, Government - **H**: Healthtech, Hospitality & Travel, Home & Utilities The company employs **dedicated vertical-focused teams and platform optimizations** to deliver industry-specific KPIs with deeper user intent insights, enhancing client ROI. --- ## **Market Presence & Geographic Reach** Affle 3i operates globally across **Asia, North America, South America, Europe, and Africa**, serving both emerging and developed markets. ### **Revenue Distribution (H1 FY26):** - **73.1%** – India & Emerging Markets - **26.9%** – Developed Markets The company maintains **on-the-ground teams in key regions** to deliver culturally relevant, region-specific advertising solutions aligned with local consumer behavior, language, and media habits. ### **Device Reach:** - Reaches **3.8 billion connected devices globally** (up from 3.6 billion in earlier 2025) - Campaigns active in **over 130 countries** --- ## **Strategic Growth Initiatives** ### **Affle 3i Vision: 10X Growth Roadmap (2025–2035)** Launched in August 2025, the **"Affle 3i" strategy** is focused on achieving **10X growth** over the next decade through: - AI-led systems and automation - Global platform scaling - Expansion into new ad formats and geographies - Operational excellence in a privacy-first world ### **Growth Vision 2030** - Expand reach to **10 billion connected devices** beyond smartphones (e.g., CTV, wearables, smart home devices) - Deliver **hyper-personalized, omnichannel experiences** across online and offline consumer journeys - Build on core strengths in AI, vernacular content, and verticalization --- ## **Key Differentiators** 1. **CPCU-Based Performance Model**: Only charge on measurable conversions, not impressions or clicks. This drives advertiser trust and long-term retention. 2. **Global Emerging Markets Focus**: Unlike most listed adtech firms focused on North America and gaming, Affle has deep expertise in **India, LATAM, ASEAN, and Africa**, giving it a competitive edge. 3. **Vernacular & Video Led Engagement**: Pioneering in local language (non-English) advertising across Tier-2, Tier-3, and rural markets via AI-driven multilingual creative localization. 4. **Connected TV (CTV) Innovation**: - **CTV AI**: Proprietary platform enabling **AI-led, hyper-local, performance-driven CTV ads** on smart TVs and OTT platforms. - Launched **self-serve CTV advertising** for SMBs, lowering entry barriers. - Uses **Household ID Sync technology** for cross-device targeting between CTV and mobile. 5. **Generative AI Integration**: - Over **100 AI agents live** across coding, creatives, campaign management, and customer success. - Automates ad creative generation, keyword planning (e.g., on Apple Search Ads), and CPP optimization. - Enables **zero-latency creative localization** in multiple Indian and international languages. --- ## **Client Success & Industry Use Cases** - **PolicyBazaar (India)**: Full-funnel strategy expanded online insurance adoption. - **Fetch (USA)**: CTV-led campaign drove user growth using rewards and retargeting. - **Casas Bahia (Brazil)**: Targeted premium iOS users to drive retail sales growth. - **FREENOW (EU)**: Advanced data models and weather-based dynamic creatives increased **ROAS by 42%** and ride revenue by 20%. - **Pick n Pay (South Africa)**: Gen AI-powered multilingual strategy raised ROAS by **55%**. - **Naranja X (Argentina)**: Used Apple’s SKAN 4.0 for privacy-first user acquisition in fintech. - **Zepto (India)**: Gen AI keyword automation drove **2.4X growth in monthly conversions**. - **Tata Neu**: Multichannel campaign via mDMP led to **4.1X increase in monthly conversions**. Affle has been recognized as **Apple-certified Ads Partner**, enhancing its credibility in the iOS ecosystem. --- ## **Acquisitions & Integration Strategy** Affle follows a disciplined **inorganic growth strategy**, acquiring platform businesses and integrating them into a **single cash-generating unit**. Key acquisitions: - **Jampp** (acquired 2021): Strengthened iOS and Latin American presence; now among top 10 platforms on Apple’s SKAN Index. - **Mediasmart** (2020): Enhanced European and APAC operations. - **Appnext** (2020–2021): Expanded app discovery via OEM partnerships. - **YouAppi** (2023, $45M): U.S.-based gaming-focused app marketing platform, now integrated into Affle2.0 stack. All acquired platforms are **fully integrated** into the **Affle 2.0 Consumer Platform**, leveraging shared DMP, cloud, and AI infrastructure to unlock cross-selling and synergies. --- ## **Partnerships & Ecosystem** - **Strategic OEM & MNO alliances**: Deep integrations with Samsung, Lenovo, and others across 12+ device-level touchpoints (e.g., Galaxy App Store, Discover). - **Open Internet Champion**: Positions itself as a key alternative to Google and Facebook walled gardens, especially for advertisers seeking diversified digital spend. - **CTV & Programmatic Partnerships**: Integrated with mobile operators, ad exchanges, and content providers to offer full-funnel, cross-screen advertising.