1. Empowering Rural India with Financial and Social Inclusion
Creating Value by
Empowering Rural India with
Financial and Social Inclusion
INVESTOR PRESENTATION
August 2013
Vakrangee Softwares Limited

2. EXCLUSIVITY SCALABILITY Safe Harbour Statement
This presentation and the following discussion may contain “forward looking statements” by Vakrangee Softwares Limited (“VSL”) that are not historical in nature. These forward looking statements, which may include statements relating to future results of operations, financial condition, business prospects, plans and objectives, are based on the current beliefs, assumptions, expectations, estimates, and projections of the management of VSL about the business, industry and markets in which VSL operates.
These statements are not guarantees of future performance, and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond VSL’s control and difficult to predict, that could cause actual results, performance or achievements to differ materially from those in the forward looking statements. Such statements are not, and should not be construed, as a representation as to future performance or achievements of VSL.
In particular, such statements should not be regarded as a projection of future performance of VSL. It should be noted that the actual performance or achievements of VSL may vary significantly from such statements.
Retail Outlets having exclusivity in offering G2C, B2C, and BFSI services.
Exclusive Mandate to offer Banking services at 50,000 outlets
Exclusive Portfolio of G2C services where VSL is empaneled as an enrolment agency.
Strong Back end already created for processing several G2C services
SCALABILITY
Expansion - 16x from 3,000 outlets at Q1FY14 to 50,000 outlets by end of FY15.
Highly evolved business model - Technologically driven real-time rural connectivity till the Gram Panchayat level
No Major Capex requirement & Sufficient Management Bandwidth.
High operating leverage – As more new services and Transactions are added to the Retail offering.
Vakrangee Softwares Limited 2

3. No. of Aadhaar Cards generated (In Mn)
VSL is the leader in all three categories namely ?
KNOW DO
YOU
number of Aadhaar cards generated
data uploaded
number of residents enrolled (over 30 million till date).
No. of Aadhaar Cards generated (In Mn)
UIDAI's mandate is to issue every resident a unique identification number linked to the resident's demographic and biometric information.
Vakrangee has been empanelled in the highest category i.e. T3F4 category permitting it with pan-India enrollment activity.
PROJECT:
AADHAAR (UIDAI)
Vakrangee Softwares Limited 3

4. VSL has managed unprecedented success in the collection of electoral roll data of around?
KNOW DO
YOU 95
million people
across
38,475
gram panchayats
of the state of Uttar Pradesh.
and Delhi.
PROJECT:
ELECTORAL DATA FOR UTTAR PRADESH
The Inclusive agenda of the Government consisted of enrolling eligible population into the electoral rolls, thereby enabling them to participate in the election process and governance.
Vakrangee Softwares Limited 4

5. ? 20 168 DO YOU KNOW INTERNATIONAL E-GOVERNANCE PHILIPPINES
VSL has Successfully completed dematerialization of 20 million land deeds for 168 Registrar of Deeds offices across the nation of Philippines. ?
KNOW DO
YOU
Registrar Offices
168
million 20
Philippines
PROJECT:
INTERNATIONAL E-GOVERNANCE PHILIPPINES
To dematerialise land deeds and introduce paperless digital record keeping for 168 Registrar of Deeds offices across the nation of Philippines.
Vakrangee Softwares Limited 5

6. ? 15,000 3 DO YOU KNOW FINANCIAL INCLUSION
In February 2012, RBI allowed non-banks to setup, own and operate White Label ATMs (WLAs) which would provide ATM services to customers of all banks. ?
KNOW DO
YOU
VSL has been granted “In-Principle Authorization” by RBI for setting up WLAs in India.
VSL will setup, own and operate
15,000
minimum WLAs
under its own brand in 3
PROJECT:
FINANCIAL INCLUSION
years across the country
VSL will be entitled to receive transaction fee from the banks for the use of VSL ATM network by the bank customers.
Additional Revenue through advertisement and other value added services as per the regulations.
Vakrangee Softwares Limited 6

7. ? 3,000 DO YOU KNOW FINANCIAL INCLUSION
RBI, Ministry of Finance & GoI wanted to expand the Bank Branches to the unbanked regions in the country as part of Financial Inclusion Initiative, allowing the banks to appoint BC & BF to extend their outreach of financial services in the rural areas. ?
KNOW DO
YOU
Exclusive mandate to set up & manage 50,000 bank branches (Ultra Small Branches) for the states of Maharashtra, Rajasthan and Delhi.
Allowed to Offer G2C as well as B2C services at these Branches, thus resulting into an Exclusive Rural Retail Outlets.
PROJECT:
FINANCIAL INCLUSION
3,000
plus Branches are already up and Operational !!
Vakrangee Softwares Limited 7

8. VSL - RURAL RETAIL MODEL
Exclusive
Scale without Capex
Economy of Scale & Scope
Negative Working Capital
Vakrangee Softwares
Vakrangee Softwares Limited 8

9. TRADITIONAL RETAIL MODEL
WHY UNIQUE ?
TRADITIONAL RETAIL MODEL
VSL
RETAIL MODEL
CAPEX
HIGH
LOW
HUMAN CAPITAL
WORKING CAPITAL
-VE WORKING CAPITAL
FOOTFALLS
VARY
ASSURED FOOTFALLS
RETAIL CATEGORY
MAINLY PRODUCTS
MAINLY SERVICES
INVENTORY
JUST IN TIME
Vakrangee Softwares
Vakrangee Softwares Limited 9

10. EXCLUSIVITY DID KNOW EXCLUSIVITY YOU SCALABILITY
Retail Outlets having exclusivity in offering G2C, B2C, and BFSI services.
Exclusive Mandate to offer Banking services at 50,000 outlets
Exclusive Portfolio of G2C services where VSL is empaneled as an enrolment agency.
Strong Back end already created for processing several G2C services
YOU
KNOW
DID
Exclusive Mandate to offer Banking services at 50,000 outlets.
Exclusive Portfolio of G2C services where VSL is empaneled as an enrolment agency.
Strong Back end already created for processing several B2C services.
SCALABILITY
Expansion - 16x from 3,000 outlets at Q1FY14 to 50,000 outlets by end of FY15.
Highly evolved business model - Technologically driven real-time rural connectivity till the Gram Panchayat level
No Major Capex requirement & Sufficient Management Bandwidth.
High operating leverage – As more new services and Transactions are added to the Retail offering.
Vakrangee Softwares 10
Vakrangee Softwares Limited 10

11. SCALABILITY DID KNOW EXCLUSIVITY YOU SCALABILITY
Retail Outlets having exclusivity in offering G2C, B2C, and BFSI services.
Exclusive Mandate to offer Banking services at 50,000 outlets
Exclusive Portfolio of G2C services where VSL is empaneled as an enrolment agency.
Strong Back end already created for processing several G2C services
Expansion - 16x from 3,000 outlets at Q1FY14 to 50,000 outlets by end of FY15.
Highly evolved business model - Technologically driven real-time rural connectivity till the Gram Panchayat Level.
No Major Capex requirement as Expansion mainly through the Franchise Model and Resources already in place at the Grass Root Level…
Economy of Scope – As more New services are added under the same Infrastructure benefiting from High Operating Leverage.
YOU
KNOW
DID
SCALABILITY
Expansion - 16x from 3,000 outlets at Q1FY14 to 50,000 outlets by end of FY15.
Highly evolved business model - Technologically driven real-time rural connectivity till the Gram Panchayat level
No Major Capex requirement & Sufficient Management Bandwidth.
High operating leverage – As more new services and Transactions are added to the Retail offering.
Vakrangee Softwares 11
Vakrangee Softwares Limited 11

12. We are the last-mile link that connects rural citizens with India’s modern ecosystem.
Vakrangee Softwares Limited

13. Discussion Summary About Us Current Profile Evolution & Transformation
Advantage Vakrangee
The Market Opportunity
Understanding Business Model
Summary Outlook – Next 3 Years
Annexure
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14. About Us Pedigree & Execution Capability Strong Financials Credentials
India’s largest E-Governance player with 20 years of E-Governance focus.
In-depth experience of handling various E-Governance projects including Election Automation, PDS, UIDAI, CSC, FI, IGRS and many more.
Strong track record of delivering time-bound mission critical projects having large foot-print across geographies.
Pedigree & Execution Capability
Revenues, EBIDTA & PAT for FY13 are Rs. 15,558 mn, Rs. 3,912 mn, & 1,093 mn and have grown at a CAGR of 53.7%, 69.7%, & 66.9% respectively over last 3 years.
Current FY13 ROCE stands at 27.0%. Total debt is around Rs. 4,309 mn resulting into Net D:E at 0.8x.
Strong Financials
Part of all Mission Mode Projects (MMPs) over the last 2 decades i.e. MCA 21, RSBY, Passport Seva Kendra, UIDAI etc.
Largest Single System Integrator (SI) for all the Key Government Projects upholding the Largest Democracy.
Empanelled in the highest category i.e. T3F4 category for Select Government Projects i.e. UIDAI - Adhar.
CMMi level III organization, ISO 27001, ISO:IEC Certified
Included in CNX 500 & BSE 200/500 & Mid-Cap Index.
Credentials
BFSI - Exclusive mandate for years to setup & manage 50,000 bank branches in the states of Maharashtra, Rajasthan, and Delhi.
RETAIL - Allowed to provide B2C as well as G2C services at these Outlets, Thus resulting into Exclusive Rural Retail Marts.
Business Transformation
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15. About Us – Strong Management
Chartered Accountant with 22 years experience in overall Management, Operations, Finance & Corporate Affairs.
Has led the evolution of Vakrangee since inception by ensuring continuous advance and improve e-Governance solutions leveraging world-class technologies, processes and people
Dinesh Nandwana Chairman & Managing Director
An IT veteran with an MBA gold medalist and B.Tech. More than 18 years of experience in blue chip organizations like PwC, IBM and ICICI and expertise in BFSI, Agri, Retail and Govt business
Santosh Dash
CEO – Retail & BFSI (Global)
Ex IRS officer with a MBA and B.Tech in telecommunications, has 18+ Years experience in Global business development and execution of large public sector IT projects.
Pradeep Kumar CEO – Government Business
Dr Nishikant Hayatnagarkar Director – R&D
PhD in Computer Science from I.I.T. (Mumbai), with experience of 24 years in the field of software and chip designing, Leads the SI LOB for Vakrangee.
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16. Shareholding Pattern – June 2013
About Us – Financial Overview
Last 3 Year Financials
As on (BSE)
Market capitalization (Rs. Mn)
33,220
Price (Rs.)
66.05
No. of shares outstanding (Mn)
502.96
Face Value (Rs.)
1.00
52 week High-Low (Rs.)
85.90 – 38.25
Shareholding Pattern – June 2013
Key Institutional Investors
% Holding
Life Insurance Corporation of India
6.45%
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17. Evolution & Transformation – Phase I - 1990-2011
Strong portfolio of G2C services
1993
Computerization of Central Election Commission
Over the Last 2 decades, VSL has built a strong portfolio of several G2C services.
VSL has been handling several stand alone government projects in e-governance space.
Have created the backend for assimilating and processing data related to citizens, and government to citizen interactions.
2005
MCA 21 – Ministry of Corporate Affairs
Grass Root Level Execution Expertise
2007
Land Record digitization in UP
Over 22 years of E-Governance Focus - Created Last Mile Infrastructure & Connectivity to deliver Mission Mode projects (MMPs) at the Grass root level.
Overcome On – Ground Complexities in Rural Regions – Flexible Timings, Power & Connectivity Issues, Manpower Training
Expertise – Have Built strong expertise from Data digitization to Technology Management
RSBY – Smart Card Project - UP. Haryana & Rajasthan
2008
2010
Passport Seva Kendra Project CSC Punjab
Dynamics of Rural Consumer Insight
Track record of Implementing several Government to Citizen services till the Gram Panchayat Level.
Gathering & Understanding the Rural Consumer behavior since being the part of their Eco- system for over 22 years.
Offering citizens an end to end solution by integrating a front end that was connected to the government systems.
UID Enrolment – ALL INDIA Project
UID linked Haryana PDS Project
2011
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18. Evolution & Transformation – Financial Inclusion Project
Bank Branch Outsourcing:
Bank Branch Outsourcing: As the “Brick & Mortar” model of banking is not sustainable in rural regions, under the “Financial Inclusion” initiative –
RBI set the guidelines allowing banks to appoint common BCs to reach unbanked regions in India.
Government has decided to transfer the entire scheme benefit scheme worth more than 3 Trillion per annum through bank account only.
Direct Benefit Transfer is a big driver for Branch opening at the sub tier-III cities in India.
Exclusive Banking Common BC Branch Outlets – In , RBI divided all the states into 20 different Clusters and allotted Exclusive BC Based Banking Branches for a period of years .
Government has permitted all the BC Banking Branches to also offer G2C as well as B2C services at their Outlets.
Resulting into Exclusive CSC Outlets offering Banking, G2C as well as B2C services.
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19. VSL – Allotment of Financial Inclusion Project
VSL has secured an exclusive mandate for years to setup & manage 50,000 bank branches (Ultra Small Branches) in the states of Maharashtra, Rajasthan, and Delhi.
RBI permits 80:20 Rural : Urban ratio for opening the bank branches.
Rural – 40,000 Branches
Urban – 10,000 Branches
VSL plans to open an Rural Branch at each Gram Panchayat Level in the states of Maharashtra, Rajasthan and Delhi and the rest to be opened in Urban Regions –
Maharashtra – 27,000
Rajasthan – 9,900
Delhi – 1,100 Branches
Allotment of Exclusive BC Based Banking License
Offering of G2C & B2C Services
The 50,000 branches have also been permitted to extend the G2C and B2C services transforming them into India’s first Rural Multi-Retail Outlets
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20. Evolution & Transformation – Phase II 2011 - Current
OFFERING A WIDE VARIETY OF SERVICES AND PRODUCTS ACROSS THE SAME TARGET CONSUMERS AT THE GRAM PANCHAYAT LEVEL.
Portfolio of G2C services
Exclusive Banking BFSI Services
Strategic Alliances for B2C Services
VSL Rural Retail Model
Natural Extension into Standalone Retail chain offering three sets of services across Government, Banking BFSI and Consumer domains – G2C, BFSI & B2C
Strong Rural Distribution Channel to deliver B2C services – FMCG, Auto, Telecom, Insurance
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21. Advantage India - Advantage Vakrangee
PRESENCE & REACH TILL GRAM PANCHAYAT LEVEL
STRONG TECHNOLOGY EXPERTISE
EXCLUSIVE BANKING SERVICES
OTHER EXCLUSIVE G2C SERVICES
Proven track record of delivering time-bound mission critical projects having large foot-print across geographies including PDS, UIDAI, CSC, IGRS and many more.
UNPARALLELED EXECUTION CAPABILITY & STRONG BOUQUET OF SERVICES
G2C Services
BFSI Services
B2C Services
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22. 700 $1 The Rural Opportunity In India
An opportunity so large, one might call it a ‘movement’….
The Rural Advantage million consumers,
US$1 trillion market, 56% of India’s income,
25% of disposable income
700
Vakrangee is the only Organized Retail Player in this market
million consumers $1
trillion market
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23. Rural India is ready to drive Consumption Growth
Indian Rural Market: An Untapped Opportunity
The Indian rural market has emerged as an important growth engine of the Indian economy.
The rural market (rural villages + small towns with <25,000 population) has today become the largest consumption market for FMCG and consumer durables.
Rural India is ready to drive Consumption Growth
Higher Government Spending
Continuous Bumper Harvest
Rising MSPs
Rural Budget
Allocation
(Rs. Billion)
FY12
FY13
YoY
(%)
Bharat Nirman
580
 710
 22%
MGNREGS
400 0%
Housing (IAY)
100
152
52%
Education (SSA)
210
273
30%
Health (NRHM)
178
18%
Total Rural Outlay
2,661
3,171
19%
Rise in annual household income from Rs. 75,000 to Rs. 88,000 in FY Rising disposable income leading to higher spending power
Note: MSP – Minimum Support Prices for farm produce
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24. Indian Rural Market: An Untapped Opportunity
Indian Demographics
Per Capita Income per annum
Rural India moving up the income pyramid
Share of Rural Wallet
0.4
0.8 12
4.8
6.1
41.4
49.9
12.9
88.2
Rural
Urban
1.2
2.1
3.4
43.9
11.2
26.3
79.7
7.7
66.3 7
2.5 4
29.1
57.9 37
79.2
13.9
43.8
Globals>1,000
Strivers 500-1,000
Seekers
Aspiers
Deprived < 90
No. of House holds (In Millions)
Year 2010
Year 2015
Year 2025
Income Classes In ‘000Rs
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25. The Changing Landscape of Rural India
Higher rural growth of 12% vs. 7% in urban FMCG consumption in 2012.
Increasing preference for new product categories, personal care products, packaged products etc.
FMCG
Improving roads & rising incomes are driving personal ownership of vehicles.
Around 50% of 2-wheeler sales are coming from rural markets.
Demand for 4-wheelers is rising in rural markets - 29% of Maruti Suzuki’s sales and17% of Hyundai Motor’s sales came from rural markets in2012.
Automobiles
10% growth in mobile shipments to million with rising contribution of rural sales
29% growth in rural subscriber base to 395 million and 28% growth in rural teledensity to 36.4% in 2012.
Rising talk time and rising number of sale of recharge coupons.
Telecom
Aspiration for better living driving demand for pucca houses % in 2013 vs % in 2011.
64% Households reported higher spending on construction despite rising prices.
Indira Niwas Yojana – 2.72 million of new houses constructed.
Housing & Construction
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26. The Changing Landscape of Rural India
Rising number of rural TV households outpacing the urban growth.
53% growth in rural DTH households. Out of total 42 million DTH connections, million (16 million in 2011) are from rural regions in 2012.
55% households with higher spend on M&E at Haat / Mela, Cinema etc.
Media & Entertainment
20% growth in rural credits to 8.2 million and 18% growth in rural deposits to million in 2012.
26% growth in disposable income, financial inclusion of GoI, and Direct benefit transfer scheme to further boost the savings & investment trends.
Financial Services
40% increase in government spending in 2013 over 2012.
Education is becoming a top priority in overall spending; 82% households increased their spending on tuition fees in 2012.
Aspiration for English medium school, IT training, and private tutors in villages.
Education
16% increase in government spending on healthcare through NRHM.
80% households increased their healthcare spending in 2012.
Increasing number of hospitals in small towns.
Healthcare market grew from USD 30 billion in 2011 to USD 35 billion in 2012.
Healthcare
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27. 31 MISSION MODE PROJECTS UNDER NATIONAL E-GOVERNANCE PLAN
The Rural Push: Indian Government Policies
National E-Governance Plan(NEGP): Make all government services accessible to common man in his locality, through common service delivery outlets, and ensure efficiency, transparency, and reliability of such services at affordable costs to realise the basic needs of the common man.
31 MISSION MODE PROJECTS UNDER NATIONAL E-GOVERNANCE PLAN
Central Mission Mode Projects
State Mission Mode Projects
Integrated Mission Mode Projects
Banking
Agriculture
Citizen Service Centre
Central Excise & Customs
Commercial Taxes
e-Biz
Income Tax (IT)
e-District
e-Courts
Insurance
Employment Exchange
e-Procurement
MCA21
Land Records
EDI fore-Trade
National Citizen Database
Municipalities
National E-Governance Service Delivery Gateway
Passport, Immigration & Visa
Gram Panchayats
India Portal
Pensions
Police
e-Office
Property Registration
Posts
Transport
Treasuries
Health
Education
Public Distribution System
The Mission Mode Projects as a part of NEGP will continue to be implemented in India regardless of the changing political parties and bureaucrats.
Vakrangee Softwares Limited 27

28. What is Vakrangee’s Rural Retail Mart?
Vakrangee’s Rural Retail Mart will act as a bridge between the Rural India and Modern India by providing access to several key Banking, G2C as well as B2C services to Rural India.
What is Vakrangee’s Rural Retail Mart?
One touch point at each Gram Panchayat to deliver all services to the citizens by using cutting-edge technology and focusing on reliability, quality and serviceability.
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29. Technology Intensive Rural Retail Mart – One Stop Shop
India’s First Organised Rural Retail Mart
Technology Intensive Rural Retail Mart – One Stop Shop
B2C
BFSI–Rural Bank Correspondent
G2C
Telecom - Mobile recharge
DTH service - Recharge, bill payments
Education
Healthcare
Market Research
Agriculture inputs
Automobiles - Dealership of Tata Motors & Mahindra
FMCG Products
White Goods
Bank A/C Opening – Savings, Current, Recurring
Transactions–Deposits, Withdrawals, Remittances
Balance Enquiry, Statement of Accounts
Direct Benefit Transfer (DBT)
Pension Disbursement
Food Security related DBT
Insurance - Life & Non Life, premium payments
Retail loans, ODs, Fixed Deposits
Recovery of loans
BSE/NSE Trading Bolts
Enrolments-UID Card, NREGA job Card, Election Card
Land Record Digitisation, Electoral Rolls, E- Stamping
Payment of Utility Bills, Taxes, Levies
Railway Tickets, Certificates, Hall tickets
Exam Fee Payments, Online Form Filling
Election Commission, NREGS, NRHM, Bharat Nirman
PDS, School Books, Food Coupon
RURAL POOR
Services are offered across the entire income spectrum
RURAL RICH
From Direct Cash Disbursement and recharge coupons to the poor, as well as delivering luxury items like automobiles or high end consumables to the affluent.
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30. Variable (VSL : VLE – 35% : 65%)
– Franchise Model
Franchise Model
Revenue Streams
To establish the retail outlets using the Franchise Model, where -
Franchisee VLE – Owner of the rural retail mart and manager of the day-to-day operations.
Franchisor VSL – Project management, infrastructure set up, VLE training, access to new services and updating content.
Fixed
Variable (VSL : VLE – 35% : 65%)
BFSI- Fixed monthly remuneration from banks (VSL – 100%)
G2C - Fixed monthly subsidies from government (VSL : VLE – 50% : 50%)
B2C - Fixed monthly rentals for OOH advertisements (VSL – 100%)
One Time Transactions – Eg. Account Opening, UID generation
On Going Transactions – Eg. BFSI – Deposit/Withdrawal, Sale of Products & Services
Current Operational Update:
Number of Outlets
Agreements signed with 31 PSU Banks including SBI & its associate banks, PNB, BoB, BoI, UBI, CBI etc
Several B2C Alliances across categories - LIC, GIC, Vodafone, Airtel, Tata Motors, Mahindra & Mahindra and many more.
More than 3,000 VSL branches are currently operational and running successfully.
CURRENT: 3,200
FY 2015: 50,000
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31. Key Alliance Partners
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32. Independent Project Management audit and consulting by the Big four
Execution Through Franchise Model
Corporate PMO
Head Quarters
Independent Project Management audit and consulting by the Big four
State PMO
State Office
More than 3,000 Current Operational office locations
District Office 1
District Office 2
District Office N
District Office 1
District Office 2
Block Office N
Vakrangee
Gram Level Office 1
VLE 1
Gram Level Office 2
VLE 2
Gram Level Office N
VLE N
Franchisee VLE
Vakrangee requires only minimal additional human resources for incremental setup of retail outlets
Vakrangee Softwares Limited 32

33. Rural Multi-Retail Outlet
Robust Technical Infrastructure
The rural retail outlet to be based out of the premises of the VLE (franchisee).
Internet Connectivity :
VSAT connection provides the seamless connectivity & integration of the retail outlet with the respective banks through CBS, and B2C and G2C partner systems.
Power Supply :
DG Sets to be placed at each outlet to have an un –interrupted power supply.
Security Specifications :
Defined User Policy - Authentication required for each and every user of the server. Secured and safe transactions.
SSL Certification, licenses digital certificate: Installed for https safe and secure transaction
Security Audit - Quarterly security audit including vulnerability and penetration testing
CBS of respective Banks
FI Servers of respective Banks
B2C
Partner Systems
G2C
Partner Systems
V-SAT
PTS
Rural Multi-Retail Outlet
Note : PTS – Pass Through Server CBS – Core Banking Solution
V-SAT – Very Small Aperture Terminal
Vakrangee Softwares Limited 33

34. Capex Requirement – Asset Light Model
CAPEX REQUIREMENT PER RETAIL OUTLET
Sr. No
Item Name 1
Laptop + Charger 2
Web Camera 3
Printer-Scanner-Copier 4
DG Set 5
Furniture & Fixture (1 Table, 3 Chairs, 1 CupBoard, 1 Safe) 6
VSAT Connection 7
POS Machine*
Total Capex Per Outlet
Rs. 1,45,000
+ taxes
VSL will act as the project manager, while VLE will operate the retail outlet and bear all the operating costs and capex (except the POS machine).
CAPEX PER RETAIL OUTLET
Entity
Amount (Rs.)
Franchisee – VLE
1,25,000
Franchisor – VSL
20,000
Total Capex
1,45,000 **
Asset Light Model – No Major Capex requirement for Vakrangee
** Vakrangee will provide the POS Machine to VLE free of cost, however it will be the owner of POS Machine.
Vakrangee Softwares Limited 34

35. – Store Economics VSL – Franchisor VLE – Franchisee
Per Retail Outlet (In Rs.)
Per Month
Year1
% Gross Margin
Total Revenues
1,75,000
21,00,000 %
BFSI % %
B2C % %
G2C % %
PMS & DMS %
Cost of Sales
1,25,000
15,00,000
Operating Costs
1,500
18,000
EBITDA
48,500
5,82,000
% EBITDA Margin
26.0%
Working Capital -
Capex (POS Machine)
20,000
Total Capital Employed
VLE – Franchisee
Per Retail Outlet (In Rs.)
Per Month
Year1
Total Revenues
1,00,000
12,00,000
BFSI %
B2C %
G2C %
Cost of Sales
43,000
5,16,000
Operating Costs
1,900
22,800
EBITDA*
55,000
6,60,000
% EBITDA Margin
55.0%
Working Capital – 1 month
(min - Rs.10,000, max – depending on business volumes)
Capex
Total Capital Employed
2,00,000
Payback period (months) 4
Note * – EBIDTA Calculation excludes Employee Salary Cost as Franchise to be managed by VLE & his Family.
1Gram Panchayat => 1 branch => servicing more than 1,500 household Families.
Both VSL and VLE will benefit from higher transaction volumes.
Economies of Scope to drive Profits of the VLE - As new services are added and Transaction Volumes increase over a period of time with no major incremental capex & operating costs, benefiting from high operating leverage.
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36. Vakrangee On-boarding
Operationalisation Process of Retail Outlet
3 MONTHS
3 MONTHS
Vakrangee On-boarding
VLE On-boarding
Go Live
Go Steady
Campaigning to generate awareness and invite applications by circulating leaflets at gram panchayats, banks, haats etc.
Scrutinizing the applications received
Conduct online written test & interview
Verify KYC documents of VLE & Sign Franchisee Agreement with VLE
Dedicated Settlement Account opening with the VLE branch
Submission of KYC documents along with account number details to Alliance Partners like Banks, Business Partners and Government etc
CIBIL and Police Verification
Branch Code generation and Device ID generation
Deployment of IT infrastructure like hardware, software and VSAT
Commissioning of non IT infrastructure like generator, furniture and fixtures
Training and Capacity Building by Vakrangee and Alliance Partners
Transaction / Enrolment testing of the IT system
Go Live Certificate
The retail outlet attains the operational stability
The retail outlet achieves a target of opening 1000 bank a/c, 10,000 E top-ups, sale of 10 micro LIC policies, and sale of 1 New India Insurance policy.
Go Steady Certificate
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37. Sample Go Live Certificates from Banks
BANK OF MAHARASHTRA
PUNJAB NATIONAL BANK
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38. Sample Go Live Certificates from Banks
BANK OF BARODA
UNION BANK OF INDIA
Vakrangee Softwares Limited 38

39. MAHARASHTRA GRAMIN BANK (MGM)
Sample Go Live Certificates from Banks
MAHARASHTRA GRAMIN BANK (MGM)
Vakrangee Softwares Limited 39

40. HIGH OPERATING LEVERAGE
– Summary
Till Date-Q1 FY14
FY2014 E
FY2015 E
No of Outlets
3,200
12,000
50,000
Capex Per Retail Outlet (Rs.) (VSL Share)
Rs. 20,000
Till Date -Q1 FY14
Total Capex (Rs mn.) 60
240
760
STORE LEVEL ECONOMICS - VSL
(Rs.)
Per Month
Annual Estimate
Revenue per Store
1,40,000
16,80,000
EBIDTA per Store
40,900
4,90,800
EBIDTA Margin %
29.21%
Opex Cost – Franchisee
Negative Working Capital
UNIQUE RETAIL FORMAT
EXCLUSIVITY
SCALABILITY
LOW CAPITAL INTENSITY
HIGH OPERATING LEVERAGE
Vakrangee Softwares Limited 40

41. Other Key Projects – White Label ATMs
Background:
1,00,000 + ATMs are currently operational only in Tier-I and Tier-II urban areas.
In February 2012, RBI allowed non-banks to setup, own and operate White Label ATMs (WLAs) which would provide ATM services to customers of all banks.
Vakrangee has been granted “In-Principle Authorisation” by RBI for setting up WLAs in India.
Vakrangee will setup, own and operate minimum 15,000 WLAs under its own brand in 3 years across the country.
Sponsor Bank
Revenue Streams
Ensure adequate cash supply
Cash settlement of transactions
Fixed
Variable
Redressal of failed transactions
Income from OOH advertisements
Financial Transaction – Rs. 15
Non-Financial Transaction – Rs. 5
Vakrangee WLA
Vakrangee Softwares Limited 41

42. Other Key Projects UID (Unique Identification Project, AADHAAR)
IGRS (Inspector General of Registration & Stamps)
Computerization of Election Commission
PDS (Public Distribution System)
Implementation of Biometric Smart Card based PDS in Haryana through computerization of entire PDS scheme.
To create 6 million UID linked Smart Ration Cards.
To install & operate ~9300 Smart Card POS Terminals.
Allocated in FY12 for 5 years
Enrolments of residents for issuance of unique identification number which will be used for delivery of all government benefit schemes.
Vakrangee is a leading enrolment agency empanelled with UIDAI on pan India basis under Tier T3F4 category.
Highest UID enrolments of more than 30 million residents till date
Computerisation of the process of registration of documents and recovery of stamp duty as per the Indian Stamp Act.
Computerized registration of marriages, societies, firm, non- trading companies, etc.
Operation of Nagpur zone offices on BOT basis (approx offices,160) for 5 years.
Computerization of the election commission.
Generated ~100 million voters’ identification cards and managed over 100,000 citizen facilitation centers across Maharashtra, Rajasthan, Gujarat and UP
Completed collection of electoral roll data of around 95 million people across 38,475 gram panchayats in UP.
Vakrangee Softwares Limited 42

43. Summary Outlook – Next 3 Years
(Rs. Mn)
FY13 A
Projects 
Revenue
% of Total Revenues
EBITDA %
Rural/Retail
4,648 
29.8%
15.00 %
UID
 1,020
6.6%
37.00%
Other E-Governance Projects
 950
 6.1%
39.89%
Legacy - PMS/DMS/ Others
 8,940
57.5%
27.00%
Total
 15,558
 100%
25.16%
FY16 (E)
Revenue
% of Total Revenues
EBITDA %
67,400
90 % 
20-25 %
1745
2.%
30-35 %
368 1%
19-25 %
5000 7%
18-22 %
74,513
100%
20-25 %  
Business Model Transformation – 50,000 Rural Retail Marts to be opened in the next 3 years.
Rural Retail segment to contribute more than 90% of the Total Revenues by FY 2016.
Revenues to grow 4.8x at a CAGR of 68% from Rs.15,558 mn in FY13 to Rs.74,513 mn in FY16E.
EBIDTA to grow 5.2x at a CAGR of 73% from Rs.3815 mn in FY13 to Rs mn in FY16E.
Vakrangee Softwares Limited 43

44. Summary Outlook – Next 3 Years
Scalability with No Major Capex
Strong Operating Leverage
Return Ratios to Improve Significantly
Expansion from 3,200 Retail Outlets currently to 50,000 Outlets by FY 2015 e. Expansion is mainly through franchise model.
Vakrangee - Capex per Outlet – Rs. 20,000 per Outlet
Total Capex requirement over next 3 years FY14-16 – Rs.1000 mn.
Economies of Scope to kick in as new services are added and Transaction Volumes increase over a period of time, with no major incremental capex & operating costs benefiting from high operating leverage.
EBIDTA Margins set to Improve to % by FY16E.
No Major Capex required for Expansion and Pay Back period is less than 6 months.
ROCE to improve Significantly as Incremental ROCE is more than 100% in the Retail model.
Vakrangee Softwares Limited 44

45. Consolidated Financials – Profit & Loss Statement
FY2013
FY2012
% Change
Net Sales Income
Other Operating Income
0.15
0.06
Total Income from Operations
14.3%
Cost of Materials
5.4%
Changes in Inventories, Stk in Trade & Finished Goods
-291.8
-50.7
475.5%
Employee Benefit Expense
285.5
124.7
128.9%
Other Expenses
152.5
122.7
24.3%
Total Expenses
4.9%
EBIDTA
58.0%
EBIDTA Margin %
24.7%
17.8%
Depreciation Expense
1570.8
874.4
79.6%
Finance Cost
859.6
557.9
54.1%
Other Income
52.1
45.3
15.0%
Profit before Tax (PBT)
39.7%
Tax Expenses
393.65
319.66
23.1%
% Revenue
27.4%
31.1%
Profit after Tax (PAT)
1043.4
708.7
47.2%
PAT Margin %
6.7%
5.2%
Earnings per Share (EPS)
2.08
1.42
46.5%
Vakrangee Softwares Limited 45

46. Consolidated Financials – Balance Sheet Statement
Particulars
FY 2013
FY 2012
EQUITIES & LIABILITIES
Shareholder Funds
(A) Equity Share Capital
502.5
250.2
(D) Reserves & Surplus
4,635.7
3,918.8
Total - Shareholder Funds
5,138.2
4,169.0
Minority Interest
28.5
Non Current Liabilities
(A) Long Term Borrowings
1,456.8
1,559.6
(B) Deferred Tax Liabilities (Net)
828.8
731.6
(C) Other Long Term Liabilities
78.4
69.9
(D) Long Term Provisions –
Total - Non – Current Liabilities
2,364.0
2,361.1
Current Liabilities
(A) Short term Borrowings
2,852.2
2,155.9
(B) Trade Payables
1,754.7
1,218.3
(C) Other Current Liabilities
1,281.3
1,014.4
(D) Short Term Provisions
406.9
214.6
Total – Current Liabilities
6,295.1
4,603.2
GRAND TOTAL – EQUITIES & LIABILITIES
13,825.8
11,161.8
Particulars
FY 2013
FY 2012
ASSETS
Non Current Assets
(A) Fixed Assets
4,371.2
5,516.2
(B) Non-Current Investments
23.1
14.6
(C) Long Term Loans & Advances
242.8
330.2
(D) Other Non-Current Assets
97.9
47.2
Total - Non – Current Assets
4,735.0
5,908.2
Current Assets
(A) Inventories
537.7
244.4
(B) Trade Receivables
6,527.4
4,454.8
(C) Cash and Bank Balances
318.8
284.1
(D) Short Term Loans and Advances
191.5
196.1
(E) Other Current Assets
1,506.9
59.0
Total – Current Assets
9,082.3
5,238.4
GRAND TOTAL – ASSETS
13,817.3
11,146.6
Vakrangee Softwares Limited 46

47. THANK YOU
ABHISHEK SHARMA Sr. Manager – Finance & Investor Relations Contact: 022 – ,
Website:
AMMEET SABARWAL
Contact:
Website:
ADITYA JANI Executive – Finance Contact:
Website:
NILESH DALVI
Contact:
Website:
Vakrangee Softwares Limited 47

48. ANNEXURE

49. Partner (Consortium Bids)
Moving Up the Value Chain
PAST
EVOLUTION PHASE
PRESENT
Sub-Contractor
Partner (Consortium Bids)
Prime / Lead Player
Rashtriya Swasthya Bima Yojna (RSBY)
MCA 21
Haryana Public Distribution System (PDS)
Rural Retail Mart – Plan to Open 50,000 Rural Retail Outlets
All India UID Project - Aadhar (UID)
National Population Register (NPR)
Common Service Centre (CSC) in Punjab & Rajasthan
Maharashtra IGRS
VSL has over the years Transformed from being an Sub Contracted IT enabler in E-Governance Projects into a Retail House offering G2C, B2C & BFSI services and a Lead Player in E-Governance Projects.
ROLE – LEAD PLAYER
SECTOR FOCUS – Retail/BFSI/ E-Governance
ROLE – SUB CONTRACTOR
SECTOR FOCUS – IT / E-Governance
EBIDTA: 10 – 15%
EBIDTA: 20 – 25%
Vakrangee Softwares Limited 49

50. ATM Penetration in India: One of the Lowest
ATM Market Sizing
The ATM penetration in India is currently as low as 81 ATM per million population compared to 1,738 ATM/million in USA and 211 ATM/million in China. There is huge opportunity for ATM growth through the white label model. It is expected to reach 350,000 ATMs by 2017 in India.
Vakrangee Softwares Limited 50

51. BFSI – List of Banking Services permitted at Retail Outlet
Sr. No.
BC Activities 1
Savings A/C Opening 2
Deposit in Savings A/C 3
Withdrawal from Savings A/C 4
Remittances - A/C to A/C 5
Remittances - Tatkal 6
Account Opening at /month/BC for first 5 months 7
Recurring Desposit A/C Opening 8
Deposit in Recurring A/C 9
Withdrawal from Recurring A/C 10
Savings Bank Overdraft 11
Savings Bank Overdraft - Disbursement 12
Savings Bank Overdraft - Repayment 13
Repayment in standard assets - Term Loans 14
Repayment in standard assets - Overdraft 15
Repayment in standard assets - Cash Credit
Sr. No.
BF Activities 16
Savings A/C Opening 17
Recurring Deposit A/C Opening 18
Current A/C Opening 19
Fixed Deposit (TDR/STDR) 20
Retail Loans - Disbursement 21
Retail Loans - Repayment 22
Over Draft 23
Kisan Credit Card - Disbursement 24
Kisan Credit Card - Repayment 25
Gramin Credit Card - Disbursement 26
Gramin Credit Card - Repayment 27
Insurance 28
Micro Pension 29
Self Help Group Management 30
Joint Liability Group Management 31
Recovery in NPA Accounts - Substandard 32
Recovery in NPA Accounts - Doubtful 33
Recovery in Loss & Written Off Accounts
Vakrangee Softwares Limited 51

52. List of Empaneled Banks – Agreements Signed
Sr. No.
Name of the Bank 1
Allahabad Bank 2
Andhra Bank 3
Bank of Baroda 4
Bank of India 5
Bank of Maharashtra 6
Baroda Rajasthan Gramin Bank 7
Canara Bank 8
Central Bank of India 9
Corporation Bank 10
Dena Bank 11
Hadoti Kshetiya Gramin bank 12
IDBI bank 13
Indian Bank 14
Indian Overseas Bank 15
Maharashtra Gramin Bank 16
Jaipur The Gramin Bank 17
Marwar Ganganagar Bikaner Gramin Bank 18
Oriental Bank of Commerce
Sr. No.
Name of the Bank 19
Punjab & Sind Bank 20
Punjab National Bank 21
Rajasthan Gramin Bank 22
State Bank of Hyderabad 23
State Bank of Bikaner & Jaipur 24
State Bank of India 25
Syndicate Bank 26
UCO Bank 27
Union Bank of India 28
United Bank of India 29
Vijaya Bank 30
Vidarbha Kshetriya Gramin Bank 31
Wainganga Krishna Gramin Bank
Vakrangee Softwares Limited 52