Financial Performance (Consolidated)

H1 FY27 Results (April-September 2026)

  • Revenue from operations: ₹14,153.6 Million, up 16% YoY from ₹12,166.7 Million in H1 FY26
  • EBITDA: ₹1,622.2 Million, up 12% YoY from ₹1,454.3 Million
  • Net Profit: ₹1,114.0 Million, up 18% YoY from ₹940.3 Million
  • Net Profit Margin: 7.9%, improved by 14 basis points from 7.7%
  • EBITDA Margin: 11.5%, decreased by 49.2 basis points from 12.0%

Q2 FY27 Results (July-September 2026)

  • Revenue from operations: ₹7,237.1 Million, up 10% YoY from ₹6,588.4 Million
  • EBITDA: ₹840.7 Million, up 8% YoY from ₹779.3 Million
  • Net Profit: ₹574.6 Million, up 10% YoY from ₹523.2 Million
  • Net Profit Margin: 7.9%, largely flat with -0.2 basis points change
  • EBITDA Margin: 11.6%, decreased by 21.2 basis points from 11.8%

Expense Breakdown H1 FY27

  • Cost of Goods Sold: ₹12,054.5 Million, up 17% YoY
  • Employee Benefit Expenses: ₹275.4 Million, up 9% YoY
  • Other Expenses: ₹201.6 Million, up 6% YoY
  • Depreciation & Amortization: ₹49.8 Million, up 9% YoY
  • Interest: ₹205.4 Million, up 17% YoY
  • Tax: ₹369.7 Million, up 21% YoY

Order Book and Business Development

Order Wins H1 FY27 (₹51,208 Million)

  • Renewable Energy: ₹39,028 Million
  • BESS (Battery Energy Storage Systems): ₹9,711 Million
  • Telecom: ₹2,038 Million
  • Product Manufacturing: ₹410 Million
  • Defense & Aerospace: ₹21 Million

Total Order Book Position

  • As of October 31, 2026: Approximately ₹104,458 Million
  • Provides strong revenue visibility across business segments

BESS Order Portfolio (1.27 GWh under execution)

  • TNGECL: 200MW/400MWh
  • APTRANSCO: 225MW/450MWh
  • NTPC: 50MW/200MWh (LFP Technology)
  • NTPC: 16.6MW/100MWh (VRFB Technology - India's largest tenders)
  • GIPCL: 20MW/120MWh (VRFB Technology)

Strategic Expansion and Diversification

New Business Verticals

  • Entry into renewable energy asset ownership through Onix IPP
  • Defense and aerospace through KCS Engineering Solutions
  • Electric mobility through BTM Mobility
  • Expansion into BESS asset ownership and fibre infrastructure
  • International growth platform through Bondada International FZ-LLC in UAE

Manufacturing Capabilities

  • In-house production of telecom towers, solar module mounting structures (MMS)
  • AAC Blocks, LED lighting, BLDC motors and controllers
  • uPVC & aluminum profiles, windows and doors

Memorandum of Understanding (MOUs)

  • Maharashtra: ₹1,000 Crore for BESS manufacturing facility
  • Goa: ₹3,000 Crore for CBG and floating solar projects

Financial Position and Corporate Developments

Balance Sheet Highlights (H1 FY27)

  • Total Assets: ₹24,713.8 Million
  • Shareholders Funds: ₹8,408.1 Million
  • Non-Current Liabilities: ₹1,586.6 Million
  • Current Liabilities: ₹14,719.0 Million
  • Property, Plant and Equipment: ₹1,503.6 Million
  • Capital Work in Progress: ₹634.7 Million
  • Trade Receivables: ₹10,351.9 Million
  • Cash & Cash Equivalents: ₹1,241.1 Million

Credit Facilities and Rating

  • Rated bank facilities enhanced from ₹8,000 Million to ₹20,000 Million
  • Credit rating upgraded to CRISIL A+/Stable

Stock Exchange Migration

  • Equity shares migration from BSE SME platform to Main Boards of NSE and BSE approved

Business Segments and Operations

Service Offerings

  • Renewable Energy: Solar IPP & EPC including site survey, land preparation, system design, installation, maintenance
  • BESS: Battery Energy Storage Systems on IPP model
  • Defence & Aerospace: Design, development, manufacture and maintenance through Bondada Dynamics and KCS Engineering
  • Telecom: EPC services including tower erection, cell site construction, fibre laying
  • Data Centres: Recently started O&M services including preventive, corrective, predictive maintenance
  • Railways: Kavach infrastructure and signalling solutions

Client Base

  • Includes Reliance Jio, Airtel, BSNL, MAHAGENCO, BHEL
  • Delivered 11,000+ telecom towers
  • Orders from BEL, DRDO, DRDL, SHAR and AVNL for defense

Operational Strengths

  • 14+ years of project execution experience
  • ISO 9001:2015 certification
  • 2,500+ employees
  • Manufacturing facilities in Andhra Pradesh and Telangana
  • PAN-India presence

Management and Governance

Board of Directors

  • Dr. Raghavendra Rao Bondada: Chairman & Managing Director (28+ years experience)
  • CA Satyanarayana Baratam: Director & Chief Financial Officer (20+ years experience)
  • Mrs. Neelima Bondada: Non-Executive Director
  • Shri K.N. Kumar (Retd. IAS): Independent Director
  • Dr. Pasupuleti Venkata Subba Rao: Independent Director
  • Mr. P. Dinakara Rao: Independent Director

Functional Leadership Team

  • Rear Admiral R Sreenivas, VSM (Retd.): Chief Executive Officer
  • Dr. Sonia Bidlan: Company Secretary & Compliance Officer
  • Multiple vice presidents and directors across business units

Future Targets and Guidance

  • FY27 commissioning target: 1.5 GWp renewable energy capacity
  • Long-term goal: 25 GW of cumulative renewable energy capacity by 2030
  • Focus on building recurring revenue streams through 25-year solar PPAs, BESS tariffs, and fiber contracts