Questions across 4 calls

Swapnil Potdukhe

JMFL

Affle 3i Limited

Affle 3i Limited CC-Feb26.pdf · 2026-02-02

My first question is, because of the INR depreciation, what is the benefit that we are getting in the revenues today? And given that the rupee continues to depreciate do we expect more benefit to come?

The second question is with respect to the several geopolitical issues which are ongoing across geographies. Which countries do you think have the highest risk in case any adverse activity happens in some of these geographies because you are exposed to a wide range of geographies beyond India as well?

Affle 3i Limited CC-Dec24.pdf · 2025-02-10

My questions are mainly growth related, and I will start off with your emerging markets growth. My back of the analysis says that there has been some tapering of growth in Other emerging markets in this particular quarter. Just want to understand, is there any particular reason for that? Or is it macro related? I mean it would be great if you can just help us understand how does your growth stack up versus the underlying market growth in other emerging markets? Also follow-up to that, a similar analysis to your 19.8% growth in India for this quarter versus the broader digital Ad tech market growth in the country?

Okay. I get your point on the sustainable profitability improvement as well while pushing for growth, which is evident on your gross margin. You have been able to maintain or slightly improve the gross margins. But if I were to just extrapolate that, are you suggesting by any chance that gross margins will keep on improving, and henceforth, we are close to around 39% right now. Should we see that improvement going ahead? In pursuit of that, you are okay with slightly less growth versus the broader market growth?

Swiggy Limited

Analysts/Institutional Investor Meet/Con. Call Updates Swiggy Limited has informed the Exchange about Transcript · 2025-02-05

So, I had 2, 3 questions. First on Instamart side. So, there was a launch of a standalone Instamart app in this particular quarter. Have you guys seen any incremental adoption because of the app? And do you see any benefit of having a segregated app going forward? And will you see any changes in the strategy?

Okay. No worries. The second question is with respect to your fixed cost on the quick commerce side, especially because they seem to have gone up meaningfully. Now, I understand there were some branding-related expenses increase and there was also some new hirings that happened in the quick commerce business. But my question then is like have we seen all those costs -- are they in the base of this particular quarter? Or we could see some of this incremental cost coming in next 1 or 2 quarters as well?

Swiggy Limited CC-Dec24.pdf · 2025-02-05

So, I had 2, 3 questions. First on Instamart side. So, there was a launch of a standalone Instamart app in this particular quarter. Have you guys seen any incremental adoption because of the app? And do you see any benefit of having a segregated app going forward? And will you see any changes in the strategy?

Okay. No worries. The second question is with respect to your fixed cost on the quick commerce side, especially because they seem to have gone up meaningfully. Now, I understand there were some branding-related expenses increase and there was also some new hirings that happened in the quick commerce business. But my question then is like have we seen all those costs -- are they in the base of this particular quarter? Or we could see some of this incremental cost coming in next 1 or 2 quarters as well?