Mobavenue AI Tech Limited (formerly Lucent Industries Limited) delivered a significant turnaround in profitability for the financial year ended March 31, 2026, reporting a consolidated net profit after tax (PAT) of ₹29.35 crore. This represents a 204% year-on-year increase from ₹9.66 crore in FY25, underscoring the effectiveness of its recent strategic restructuring and acquisition of Mobavenue Media Private Limited. The performance marks a critical milestone for the company as it transitions into an AI-native advertising technology platform, with international markets contributing 11.5% of total revenue.

The financial submission was made pursuant to Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Annual Report for FY26 was approved by the Board of Directors on May 15, 2026, and is subject to adoption by shareholders at the 16th Annual General Meeting scheduled for September 02, 2026. The filing includes audited standalone and consolidated financial statements, reviewed by statutory auditor N. A. Shah Associates LLP, which issued an unmodified opinion on the adequacy of internal financial controls.

Financial Performance Highlights

The company’s top-line growth was robust, with consolidated revenue from operations reaching ₹218.48 crore, up from ₹86.70 crore in FY25. This expansion was primarily fueled by direct advertiser demand across high-growth sectors such as Quick Commerce, BFSI, Fintech, and Retail. Direct clients accounted for 73.9% of total revenue, indicating improved revenue quality compared to intermediary-led models.

Operating leverage played a key role in margin expansion. EBITDA rose to ₹45.37 crore from ₹14.32 crore, pushing the EBITDA margin to 20.8% from 16.5% in the prior year. Supply and data costs, the largest expense line, stood at ₹131.59 crore, consistent with the media inventory economics inherent to the business model.

Balance Sheet and Liquidity

The company’s financial position strengthened materially during FY26. Total net worth increased to ₹90.56 crore from ₹11.18 crore, driven by a preferential equity issue of approximately ₹50 crore and internal accruals. The balance sheet remained healthy with cash and cash equivalents of ₹39.94 crore and current investments of ₹30.77 crore. Borrowings were low at ₹8.49 crore, resulting in a conservative debt-equity ratio of 0.04. Net cash generated from operating activities was ₹34.82 crore, providing ample liquidity for future technology investments and international expansion.

Strategic Developments and Governance

FY26 saw the successful integration of Mobavenue Media Private Limited, establishing a unified organizational structure under the new name Mobavenue AI Tech Limited. The company expanded its international footprint, launching operations in the UK and serving clients across 10 countries. Domestically, it deepened wallet share with enterprise clients while building a scalable mid-market engine.

The Secretarial Audit Report highlighted isolated compliance delays, including a four-day delay in submitting financial results for the quarter ended March 31, 2025, and a three-day delay in depositing interim dividends. The Board has since strengthened compliance monitoring mechanisms. Additionally, the company implemented the Mobavenue AI Tech Employee Stock Option Scheme 2025, granting 1,21,705 stock options to retain specialized talent.

What the Numbers Show

A key analytical observation is the shift towards higher-quality revenue streams. With direct clients accounting for nearly 74% of revenue, the company is reducing reliance on lower-margin intermediary volumes. This structural change, combined with an asset-light, cloud-native operating model, allows unit economics to improve as scale increases. The expansion of EBITDA margins despite a 151% revenue jump indicates that the company’s proprietary AI platforms are generating operating leverage rather than requiring proportional cost increases in supply or data.

Outlook and Dividend

Looking ahead, the company aims to adhere to its 'Rule of 50' framework, targeting annual revenue growth above 30% and EBITDA margins exceeding 20%. The Board recommended a final dividend of ₹0.50 per equity share of face value ₹10 each, equivalent to ₹0.10 per sub-divided share of face value ₹2. The dividend payment date is set for October 01, 2026, subject to approval at the AGM.

Mobavenue AI Tech Limited has expanded its recognition at the Programmatic Asia Awards 2026, securing a Gold award for Best DSP of the Year – India alongside three Silver awards. Conferred by Agency Reporter, the honors were announced via disclosures submitted to BSE Limited on August 04, 2026, and September 04, 2026. The awards highlight the Mumbai-headquartered AdTech firm’s proficiency in delivering outcome-oriented digital advertising solutions through artificial intelligence and data-driven audience intelligence.

The company received the Gold award for its strategic emphasis on strengthening its demand-side platform (DSP). Additionally, it secured Silver recognitions in three specific campaign categories: Best Brand Awareness Campaign and Best Cross-Channel Programmatic Campaign for client boAt, and Best Programmatic Mobile Campaign for client Baby Sebamed India. Kunal Kothari, Whole Time Director & Chief Operating Officer, signed the communications confirming these achievements under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Award Categories and Clients

The recognitions underscore Mobavenue’s capabilities across different facets of programmatic advertising. The following table details the specific awards and associated clients:

Strategic Focus on AI and Programmatic Capabilities

Mobavenue attributes these accolades to its proprietary technology platforms that enable precision targeting and efficiency in digital advertising. The firm leverages AI to analyze data and audience insights, allowing it to connect high-intent consumers with relevant brands. According to management, these capabilities support measurable business outcomes across the full customer journey, moving beyond simple ad placement to performance-driven strategies.

The firm operates under its proprietary A3 framework, which spans Awareness, Acquisition, and Activation. This full-funnel approach ensures that digital growth strategies are outcome-led. By integrating AI into its DSP and campaign execution, Mobavenue aims to improve the precision of audience engagement and the efficiency of media spend for its clients.

Global Presence and Client Base

Headquartered in Mumbai, Mobavenue AI Tech Limited maintains a growing global presence across key markets including ASEAN, LATAM, the UK, and the USA. The company serves a diverse portfolio of more than 150 brands spanning multiple sectors such as e-commerce, BFSI, fintech, travel, OTT, gaming, healthcare, and retail. Its client base ranges from publicly listed enterprises to fast-growing digital businesses.

As an AI-powered AdTech and consumer growth company, Mobavenue enables businesses, enterprises, publishers, and large global agencies to drive measurable outcomes. The combined recognition at the Programmatic Asia Awards 2026 reinforces its position in the competitive digital advertising landscape, particularly in leveraging technology to enhance advertiser ROI through both platform infrastructure and creative campaign execution.