Investor Deck – Q2 FY25
Nov 27, 2024

Safe Harbour
Certain statements in this release concerning Sagility’ future growth prospects may be seen as forwardlooking statements, which involve a number of risks and uncertainties that could cause the actuals to differ 
materially from such statements. Sagility does not undertake to update any such statement that may have 
been made from time to time by or on behalf of the company..
2

We are one of the largest pure-play Healthcare Services and 
Solutions provider
Broad and deep domain expertise 
in medical, pharmacy, and dental Insurance business
segments
Service Portfolio 
Covers payer and provider value chain inclusive of 
both administrative and clinical workflows
Tech-led & Transformative
Applications, point solutions, RPA, Analytics and AI
45
Healthcare Clients Groups
5
Of The Top 10 Payers 
Served
3
Of top 6 PBMs by claims 
volume
17
Average tenure in years of 
Top 5 clients
4
Large national IDN, 
Laboratory, DME and 
Radiology Provider clients
38000+
Employees
(60% women)
5
Geographies
(32 Sites)
~ 94%
Headcount 
Offshore & 
Nearshore
105M
Claims processed
75M+
Interactions
Supported by Talented workforce with expertise in claims, clinical and coding across multiple geographies
► Leader in Healthcare Payer Operations PEAK 
Matrix - 2023
► Major Contender in Clinical and Care Mgmt. Ops 
Services & RCM Ops PEAK Matrix - 2023
► Leader in Clinical Services 
Business Process 
Transformation - 2023
► Leader in GenAI Service 
Provider - 2024
► ‘Employer of 
Choice’ award 
(JAM)
► Employer of the Year 
Bronze Stevie(R) 
Award (US)
► Best Employer for 
Women, Ind
Economic Times 
► Recognized by 
LinkedIn as 15 best 
workplaces to grow a 
career in PHL 
► Best HR Strategy In 
Line With Business, 
World HRD Congress 
IND
~ 2000 
Clinicians
100% 
US Healthcare focused
Tenured Leadership & 
Board with Healthcare 
Expertise
24
Years of experience in 
Healthcare 
Multi-shore, scalable 
and flexible delivery 
platform showcasing 
strong certifications
Diverse and Broad 
client portfolio 
Payers, PBMs, TPAs, 
Workers Comp
Marquee Provider 
clients powering 
expansion
24.64%
Adjusted 
EBITDA Margin 
(FY24)
12.40%
Adjusted 
PAT Margin 
(FY24)
87.2%
OCF to EBITDA 
(FY24)
Revenue in Million
12.7%
3

US Healthcare spending is highest among the leading economies
and is expected to continue increasing
Source: Industry research, OECD, IMF, WHO, CMS.
Note: 1. Currency conversion is based on the exchange rate of US$1 = INR 83.4982 as of 16th April 2024. 2. Current prices and PPP converted.
3.Calculated by multiplying outsourcing payer penetration average rate (%) of 22.0-24.0% to overall payer TAM ($) of $138.2bn for CY23. 
4.Calculated by multiplying outsourcing provider penetration average rate (%) of 19.5-21.5% to overall provider TAM ($) of $62.9bn for CY23
▪ Healthcare forms an integral segment of the US economy,
contributing17.1% to the nominal GDP at $4.7tn spend in 2023
Health expenditure as % of US GDP at current prices
27.4
28.8
29.8
31.0
32.3
33.6
17.1%
17.0% 17.4%
17.6%
17.9% 18.2%
2023A 2024F 2025F 2026F 2027F 2028F
US GDP at Current Prices ($tn)
Healthcare Expenditure as % of US GDP
US Healthcare Expenditure to reach 18.2%
of US GDP by 2028
US is the Highest Healthcare Spender
among Leading Economies
US Healthcare Outsourcing Potential
Healthcare expenditure per capita vs. GDP per capita
(2022)2
▪ US economy is the highest healthcare spender among
leading economies with per capita healthcare
expenditure (PPP Basis) at $12,555.3 in CY22
• +1.6x to the second-highest spender, Switzerland
• India’s healthcare market, in comparison, is underdeveloped
with 2021 estimates for health
spending per capita at $74.0
Payer Provider Total
CY23
Overall 
TAM ($)
Outsourcing 
Penetration (%)
Outsourcing 
Penetration ($)
$138.2bn 22.0-24.0%
of $138.2bn ~$32bn+3
$62.9bn 19.5-21.5%
of $62.9bn ~$13bn4
$201.1bn ~$45.0bn
Payers form 68.7% & Providers form 31.3% of the overall TAM 
(CY23)
US Healthcare Outsourcing market growth is faster than the overall market driven by multiple tailwinds
4

Sagility exhibits end-to-end coverage across Payer and Provider 
space…
Payment
Integrity
Claims
Management
Clinical
Management
Intake, Indexing and Imaging
Adjudication
Post Adjudication
Grievance & Appeals
Others
Artificial Intelligence, Advanced Analytics & Business Intelligence
Pre-Pay
Post-Pay
Enrolment
Plan Building
Premium Billing
Provider Data Management & 
Credentialing
Payer: 
89.2% revenues1
Revenue Cycle 
Management
Provider:
10.8% revenues1
Chronic & Complex Case 
Management
Utilization Management
Population Health 
Management
Note: DME: Durable Medical Equipment. 1. For H1 FY25.
Patient Engagement Services 
Claims and Coding Services
Revenue Management
Clinical and Coding Denials
Patient Care, Quality & 
Outcome Services
DME* & Lab Provider Order 
Specialty Services
Member Engagement & Provider Engagement
ISO 9001:2000 ISO 27001 HIPAA NCQA SISA PCI DSS URAC
US Healthcare has a strong regulatory framework with high compliance requirements
SOC1 SOC2
5

…Offering domain-led and digitally-enabled solutions Objectives Case Studies
Functional Products &
Services
2
✓ Providing end-to-end workflow 
solutions:
 Provider data management*
 Credentialing*
 LPI*
 Concierge services
 Patient self-pay
✓ Transformedprovider data 
management operation at a 
mid-sized Blues Plan
✓ Created an intelligent workflow 
for a Top-10 Health Plan to reduce
their late payment interest
Specialized High-Impact
End-to-End Program
✓ Building holistic, end-to-end inhouse programs and service 
platforms:
 UtilizationManagement
 Aging-in-place*
 Payment integrity*
1
✓ Providing care management 
services to LTC insurance 
policy holders at a National 
LTC carrier
✓ Performpayment integrity 
audits for case completion, 
correctness and clinical / 
financialfindings
Digital Services
4
✓ Utilizing data, analytics and AI
services capabilities to deliver
increased efficiencies:
 Intelligent Content 
Processing(ICP)*
 Intelligent Interaction 
Analytics Platform(IIAP)*
 Business intelligence
 Speech Analytics*
✓ Use AI-based solutions to 
optimize inbound document 
management
✓ Built a smart and interactive 
speech analytics solution for 
member and provider contact 
center for a leading Blue Plan
Process Optimization
& Transformation
3
✓ Leveraging best-of-breed tools to
provide operational value- add to
clients:
 RPA
 Process Mining
✓ Delivered processoptimization 
across multiple functions for a 
Nationalpayer
Integrated Tech-Led
Solutions (BPaaS)
✓ Working with partners to
deliver integrated, tech+
service offerings:
 Contact center as-a-service
 ClaimsBPaaS
 Digital Intake
 RCM as-a-service
5
✓ Deliver a digital document 
management solutions for a 
top 5 National payer
✓ Deliver RCM services fortop 5 
National health system
Healthcare Domain-Led Solutions Digitally-Enabled Solutions
Deep Domain Expertise, Process Re-engineering and Transformation
Note: LPI: Late Payment Interest, RPA: Robotic Process Automation, BPaaS: Business Process-as-a-Service, TAT: Turn Around Time, TPA: Third Party administrator, RCM: Revenue Cycle Management, LTC: Long Term Care.
* In-house / Home-grown Technology. 6

Multiple GenAI Case studies across the enterprise
BirchAI’s proprietary technology uses Healthcare specific models from Speech-To-Textto LLMs
Note: AHT: Average Handle Time, PI: Payment Integrity, RCM: RevenueCycle Management, EOB: Explanation Of Benefits, EOR: Explanation Of Review, UM: Utilization Management, G&A: Grievance and Appeals.
• G&AOptimization: Identifies appeals 
automatically to help resolve faster
• Letter Generation for appeals, EOB and EOR
• Optimize Knowledge Retrieval & Searching:
Helps agents resolve customer queries faster
• Fraud, Waste &Abuse Identification: Helps save
cost for clients
• Clinical Summary and Documentation: 
Summarises medical records to help nurses
in faster resolution
• Coding Audits: Helps coders audit 
efficiently and suggests alternate codes 
where applicable
• Adherence to Clinical Guideline:Aids 
compliance
• Pre-Agent(Automate): Routine calls 
resolved without human agent involvement
• On Call: Keep agents on task, recommends 
Next BestActions and reduceAHT
• After Call (Wrap time): Automate 
documentation and classification
• Audit &Analysis: Identify customer trends
real-time, improve agent performance
• Trainingoptimization: Creating 
relevant training content and 
digitization of training delivery
• Improving speed to proficiency of
agents
SagilityAI team will leverage BirchAI’s expertise to drive client transformationuse cases
ENHANCE 
ENGAGEMENT
Front Office
OPERATIONAL 
PROFICIENCY
Technology / 
Shared Services
OPTIMIZE 
BACK OFFICE
Claims, PI, RCM
CLINICIAN 
EXCELLENCE
UM, PI
7

Focused growth strategy anchored on deepening existing relationships, winning new 
clients, expanding tech capabilities and acquisitions
Clients Services Strategic Acquisitions and Collaborations
Strategic 
Acquisitions and 
Collaborations
Identify suitable targets, and 
effectively evaluate and execute 
potential opportunities 
⚫ Pursue acquisitions to expand 
portfolio of services in Payer and 
Provider segments and other 
adjacent segments
⚫ Add to the technology solutions 
portfolio
Enhance 
Technology Tools 
& Platforms New Clients 
Addition
Establish new client relationships 
across categories 
⚫ Payers: Continued focus on other 
large national & blue plans as well as 
other regional plans
⚫ Providers: Expand RCM services to 
hospitals, health systems and other 
adjacent markets
Existing Clients 
Growth
Strengthen relationships with existing 
clients, expand offerings and increase 
share of wallets
⚫ Aim to leverage opportunities to upsell and cross-sell by introducing 
clients to the entire spectrum of 
solutions 
⚫ Actively invest in capabilities to 
expand service lines across clients
Using analytics and tools for process 
optimization and efficiency
⚫ Cognitive computing 
̶ Artificial Intelligence (AI)
̶ Machine Learning (ML)
̶ Generative AI (GenAI)
⚫ Cloud computing
⚫ Create capabilities across payment 
integrity, clinical management and 
utilization management
8

Key Highlights
► Revenue in Q2 at ₹13,250 million, grew by ₹2,309 million Y-o-Y 
(corresponding to 21.1% growth Y-o-Y )
► Adjusted EBITDA at ₹3,378 million, grew by ₹615 million Y-o-Y 
(corresponding to 22.2% growth Y-o-Y )
► Adjusted PAT at ₹1,636 million, grew by ₹ 383 million Y-o-Y 
(corresponding to 30.5% growth Y-o-Y )
► Revenue in H1 at ₹ 25,484 million grew by ₹3,382 million Y-o-Y 
(corresponding to 15.3% growth Y-o-Y )
► Adjusted EBITDA at ₹6,538 million, grew by ₹741 million Y-o-Y 
(corresponding to 12.8% growth Y-o-Y )
► Adjusted PAT at ₹3083 million, grew by ₹405 million Y-o-Y 
(corresponding to 15.1% growth Y-o-Y )
► Robust expansion among existing clients driven by deep client relationships demonstrated by Client NPS of 53
► Strategic focus on small and mid-market segment payers and in widening presence with provider clients.
► Expansion in tech use-cases with multiple GenAI initiatives gathering momentum and pilots/ deployments underway; significant 
enhancement in Automation and Analytics footprint.
► M&A continues to be a core pillar of our future growth.
► Strong performance driven by operational efficiencies
► People: Global headcount stands at 38,380 as of September 2024.
► 2,522 employees added during Q2 FY25 (7% Q-o-Q growth in headcount). 
► Attrition low at 25.8%*
Key Business Highlights
* Voluntary attrition considering employees who were employees for more than 90 days (%) on an annualized basis
Q2 FY25 Highlights H1 FY25 Highlights
9

KPIs
*considering employees who were employees for more than 90 days (%) on an annualized basis
KPI Q2 FY25 Q1 FY25 Q2 FY24 Y-o-Y % H1'25 H1'24 Y-o-Y %
Revenue from Operation (in INR Million) 13,250 12,233 10,941 21.1% 25,484 22,102 15.3%
Revenue by Vertical split
By Payer (in INR Million) 11,824 10,901 9,788 20.8% 22,725 19,773 14.9%
By Provider (in INR Million) 1,426 1,332 1,153 23.7% 2,758 2,329 18.4%
Growth in revenue from Operation (%) 21.1% 9.6% 15.3%
Adjusted EBITDA (in INR Million) 3,378 3.160 2,763 22.2% 6,538 5,797 12.8%
Adjusted EBITDA % 25.5% 25.8% 25.3% 25.7% 26.2%
Adjusted PAT (in INR Million) 1,636 1,447 1,254 30.5% 3,083 2,678 15.1%
Adjusted PAT % 12.3% 11.8% 11.5% 12.1% 12.1%
Total Number of Employees 38,380 35,858 36,525 5.1% 38,380 36,525 5.1%
Voluntary attrition rate* (%) 25.8% 27.3% 26.1% 26.2% 26.7%
10

Financial Highlights

Highlights
Q2 FY25 Financial Highlights
► Q2 FY25 revenue stood at ₹13,250 Million ($157.9 M)
► 21.1% growth Y-o-Y (19.8% at constant currency )
► 8.3% growth Q-o-Q (7.7% at constant currency)
► Adjusted EBITDA at ₹ 3,378 Million ($40.3 M) 
► Adjusted EBITDA Margin : 25.5%
► 22.2% growth Y-o-Y; 6.9% growth Q-o-Q
► Adjusted PAT at ₹1,636 Million ($19.5 M)
► Adjusted PAT Margin: 12.3%
► 30.5% growth Y-o-Y; 13.1% growth Q-o-Q
► OCF ₹2,391 Million ($ 28.4 M)
► 75.5% of EBITDA
► H1 FY25 revenue stood at ₹25,484 Million ($304.5 M)
► 15.3% growth Y-o-Y (13.8% at constant currency )
► Adjusted EBITDA at ₹ 6,538 Million ($78.1 M)
► Adjusted EBITDA Margin : 25.7%
► 12.8% growth Y-o-Y
► Adjusted PAT at ₹3,083 Million ($36.8 M)
► Adjusted PAT Margin : 12.1 %
► 15.1% growth Y-o-Y
► OCF ₹6,089 Million ($72.8 M)
► 113.8% of EBITDA
Strong Q2 and H1 FY25 Performance
H1 FY25 Financial Highlights
12

Financial performance snapshot – Q2 FY25
Revenue 
(INR Million) 
Y-o-Y Q-o-Q
21.1% 8.3%
Adjusted EBITDA 
(INR Million)
Y-o-Y Q-o-Q
22.2% 6.9%
Adjusted PAT
(INR Million)
Y-o-Y Q-o-Q
30.5% 13.1%
Revenue ($M) 
Y-o-Y Q-o-Q
19.8% 7.7%
Adjusted EBITDA 
($M)
Y-o-Y Q-o-Q
20.9% 6.3%
Adjusted PAT
($M)
Y-o-Y Q-o-Q
29.1% 12.5%
₹2,763
₹3,160 ₹3,378
Q2'24 Q1'25 Q2'25
₹1,254
₹1,447
₹1,636
Q2'24 Q1'25 Q2'25
₹10,941
₹12,233 ₹13,250
Q2'24 Q1'25 Q2'25
$131.9
$146.6
$157.9
Q2'24 Q1'25 Q2'25
$33.3
$37.9 $40.3
Q2'24 Q1'25 Q2'25
$15.1
$17.3 $19.5
Q2'24 Q1'25 Q2'25
13

Financial performance snapshot – Long Term
Revenue 
(INR Million) 
FY24 Y-o-Y H1’25 Y-o-Y
12.7% 15.3%
Adjusted EBITDA 
(INR Million)
FY24 Y-o-Y H1’25 Y-o-Y
12.1% 12.8%
Adjusted PAT
(INR Million)
FY24 Y-o-Y H1’25 Y-o-Y
29.4% 15.1%
Revenue ($M) 
FY24 Y-o-Y H1’25 Y-o-Y
10.5% 13.8%
Adjusted EBITDA 
($M)
FY24 Y-o-Y H1’25 Y-o-Y
10.0% 11.3%
Adjusted PAT
($M)
FY24 Y-o-Y H1’25 Y-o-Y
26.9% 13.6%
₹10,449
₹11,715
₹5,797 ₹6,538
FY23 FY24 H1 FY24 H1 FY25
₹4,556
₹5,896
₹2,678 ₹3,083
FY23 FY24 H1 FY24 H1 FY25
$518.2 $572.9
$267.6 $304.5
FY23 FY24 H1 FY24 H1 FY25
$128.4 $141.2
$70.2 $78.1
FY23 FY24 H1 FY24 H1 FY25
$56.0
$71.1
$32.4 $36.8
FY23 FY24 H1 FY24 H1 FY25
₹42,184
₹47,536
₹22,102 ₹25,484
FY23 FY24 H1 FY24 H1 FY25
14

Financial Indicators
1.06 
1.38 1.43 
FY23 FY24 TTM Sep24
Adjusted EPS (in INR)
82.0% 87.2%
113.8%
68.2% 70.8%
101.1%
FY23 FY24 H1 FY 25
Cash Conversion (%)
OCF FCF
Adjusted EPS is Adjusted PAT divided by weighted average number of equity shares
Adjusted ROCE is Adjusted PAT plus Interest cost divided by capital employed (Assets excluding goodwill and intangibles less current liabilities)
Net Debt is Borrowing plus lease liabilities less Cash and Cash equivalent. Borrowing doesn’t include accrued interest
₹22,863 ₹21,678
₹9,736
2.19x
1.85x
0.78x
Mar-23 Mar-24 TTM Sep24
Net Debt
Net Debt (INR million) Net Debt to Adjusted EBITDA
41.6%
47.0%
45.1%
FY23 FY24 TTM Sep24
Adjusted ROCE
15

Q2 & H1 FY25 Consolidated Financials 
Amt in INR M
Particulars Q2'25 Q1'25 Q2'24 QoQ% YoY% H1'25 H1'24 YoY%
Revenue from Operation 13,250 12,233 10,941 8.3% 21.1% 25,484 22,102 15.3%
Other Income 153 244 291 189 405 
Employee benefits expense 8,124 8,504 6,805 16,628 13,399 
Other expenses 2,115 1,790 1,795 3,696 3,725 
Reported EBITDA 3,165 2,184 2,632 44.9% 20.3% 5,349 5,383 -0.6%
Adjusted EBITDA 3,378 3,160 2,763 6.9% 22.2% 6,538 5,797 12.8%
Adjusted EBITDA % 25.5% 25.8% 25.3% 25.7% 26.2%
Finance costs 297 374 483 671 954 
Depreciation and amortisation expenses 1,264 1,100 1,715 2,363 3,376 
Profit Before Tax 1,604 710 434 125.9% 269.8% 2,314 1,053 119.8%
Tax Expenses 431 487 84 918 278 
Reported Profit After Tax 1,173 223 350 426.3% 235.6% 1,396 775 80.3%
Adjusted PAT 1,636 1,447 1,254 13.1% 30.5% 3,083 2,678 15.1%
Adjusted PAT % 12.3% 11.8% 11.5% 12.1% 12.1%
Adjusted EPS (Basic and Diluted) (Rs) 0.35 0.33 0.29 6.9% 19.5% 0.64 0.62 2.3%
* Financials for Q2FY25, H1’25 and H1’24 are unaudited. Financials for Q1’25 are audited 16

Adjustments on EBITDA and PAT
Adj EBITDA Bridge: Q2 FY25 Adj EBITDA Bridge: H1 FY25
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Reported 
PAT
Adj A Adj B Adjusted 
PAT
Adj C
Adj A - Earnouts under acquisition agreements and for PAT it is adjusted for tax
Adj B - Share based payment awards and for PAT it is adjusted for tax
Adj C - Intangible assets Amortization is amortization of intangible assets acquired pursuant to business combinations and for PAT it is adjusted of tax
Reported 
PAT
Adj A Adj B Adjusted 
PAT
Adj C
Adj PAT Bridge: Q2 FY25 Adj PAT Bridge: H1 FY25
Reported 
EBITDA
Adj A Adj B Adjusted 
EBITDA
Reported 
EBITDA
Adj A Adj B Adjusted 
EBITDA
INR Million
INR Million INR Million
INR Million
17

Go Forward Positions
Amt in INR Million
Particulars FY'25 FY'26 FY'27 FY'28 FY'29
Closing Debt position 8,020 5,670 - - -
Debt Repayment 2,490 2,350 5,670 
Interest Payment 746 535 285
Share based payment awards 1,088 215 131 71 34
Earnouts Cost - DCI / Birch 479 343 - - -
Intangibles Amortisation 1,387 1,396 1,396 1,396 1,396
* Numbers are based on the current visibility of management and are subject to change. Factors such as new loans, acquisitions, foreign exchange rate or changes in our share-based payment 
award plan could impact the final figures
18

Balance Sheet
Amt in INR Million
Particulars Sep'24 Mar'24
Property, plant and equipment 3,869 3,832 
Capital-work-in-progress
- 57 
Right-of-use assets 5,244 5,665 
Goodwill 57,088 57,096 
Other intangible assets 19,365 20,078 
Trade receivables 10,578 11,813 
Cash and cash equivalents 5,068 3,441 
Deferred tax assets (net) 1,315 1,354 
Other Assets 3,776 3,305 
Total assets 106,303 106,642 
Equity 78,159 64,431 
Borrowings 9,441 19,335 
Lease liabilities 5,540 5,982 
Trade payables 2,706 2,593 
Other financial liabilities 2,643 6,587 
Deferred tax liabilities (net) 4,605 4,710 
Other Liabilities 3,209 3,004 
Total Liabilities 106,303 106,642 
* Financials for Sept’24 are unaudited. Financials for Mar’24 are Audited
19

Consolidated Cash Flow – H1 FY25 
20
Amt in INR Million
Particulars H1'25 FY'24
Profit before tax for the period/ year 2,314 2,417 
Adjustment for Non-Operating and Non-Cash 4,033 8,693 
Adjustment for working capital 522 (114)
Income taxes paid (net of refunds) (781) (1,263)
Net cash flows generated from operating activities (A) – OCF 6,089 9,733 
Acquisition of property, plant and equipment and other intangible assets (682) (1,827)
Free Cash Flows (FCF) 5,407 7,905
Payment for business combination, net of cash acquired (3,756) (3,010)
Others 82 147 
Net cash flows (used in) investing activities (B) (4,356) (4,691)
Proceeds from issue of shares by subsidiaries in a related party transaction 3,708 
Share issue expense paid (5) (72)
Repayment of borrowings (2,427) (4,281)
Repayment of lease liabilities (782) (1,265)
Interest on repayment of lease liabilities (130) (412)
Interest paid on borrowings (473) (1,483)
Net cash flows (used in) financing activities (C) (109) (7,513)
Net increase/ (decrease) in cash and cash equivalents (A+B+C) 1,624 (2,471)
Cash and cash equivalents at the beginning of the year/period 3,441 5,853 
Effect of movement in exchange rates on cash and cash equivalents 3 60 
Cash and cash equivalents at the end of the year/ period 5,068 3,441 
Net cash flows generated from operating activities % (OCF on EBITDA) 113.8% 87.2%
Free Cash flow % (FCF on EBITDA) 101.1% 70.8%
• Financials for Sept’24 are unaudited. Financials for Mar’24 are Audited
• Others in investing activities include Proceeds from sale of property, plant and equipment and other intangible assets and Proceeds from 
maturity of derivative assets/liabilities, (net) and Interest received

Thank You