Financial Performance Overview

E2E Networks Limited announced unaudited financial results for Q2 and H1 FY27 ended September 30, 2026. Q2 FY27 revenue reached ₹2,238 million, representing 410.8% year-on-year growth and 42.7% quarter-on-quarter growth. This performance was driven by contribution from Blackwell GPUs, better utilization, and higher average realization across the GPU fleet.

Q2 FY27 Financial Highlights

  • Revenue: ₹2,238 Mn (up 410.8% YoY, 42.7% QoQ)
  • EBITDA: ₹1,715 Mn at 76.6% margin (+141 bps QoQ; +3,553 bps YoY)
  • PBT: ₹971 Mn (vs ₹586 Mn in Q1 FY27 and loss of ₹185 Mn in Q2 FY26)
  • PAT: ₹727 Mn with PAT margin of 32.5% (vs 28.0% in Q1 FY27)
  • Depreciation: ₹740 Mn (up ₹133 Mn QoQ)
  • Month Exit Revenue (September 2026): ₹751 Mn

H1 FY27 Half-Year Summary (April-September 2026)

  • Revenue: ₹3,805 Mn (up 376% YoY from ₹799 Mn in H1 FY26)
  • EBITDA: ₹2,894 Mn at 76.0% margin (+4,036 bps YoY), representing 2.3x full-year FY26 EBITDA
  • PBT: ₹1,558 Mn (vs loss of ₹222 Mn in H1 FY26)
  • PAT: ₹1,166 Mn with PAT margin of 30.6% (vs loss of ₹163 Mn in H1 FY26)
  • Depreciation: ₹1,346 Mn (up 92% YoY, reflecting scale-up of GPU fleet)

Business Highlights

  • Signed binding term sheet of approximately ₹1,000 crore (excluding taxes) with an Indian sovereign AI company for NVIDIA Blackwell cloud GPUs and allied services, valid through June 2029
  • TIR AI/ML Platform: Added VPC Connect enabling secure, private networking for GPU instances, training clusters and inference endpoints, delivering enterprise-grade isolation for regulated workloads
  • Jarvislabs.ai The AI Cloud Managed Endpoints & Model APIs: Production-ready open-weight models and pay-per-token APIs for Open-Source Models
  • Infrastructure Upgrades: InfiniBand H200 clusters, serverless inference that scales to zero, private VPC networking, Object Storage and shared filesystems

Leadership & Market Engagement

  • Leadership strengthened with key appointments:
  • Anand Ganapathy (ex-IBM, Dell) joins as Chief Revenue Officer with 27+ years enterprise sales leadership
  • Abhishek Shindadkar joins as Head, Founder's Office with 21+ years expertise in technology, research and capital markets
  • Vinod Kumar joins as SVP, Field CTO with 20+ years experience across cloud infrastructure, HPC, storage and enterprise technology
  • Expanded Strategic Advisory Team: Anandamoy Roychowdhary, Managing Director at Crane Venture Partners, previously spent over a decade at Sequoia Capital India & Southeast Asia (now Peak XV Partners)
  • Participated in Global Fintech Fest 2026, Mumbai, presenting India-hosted GPU cloud and AI platforms to banks, insurers and fintechs

Management Commentary

Management stated: \"Q2 FY'27 — revenue 5.1x year-on-year to ₹2,238 Mn, EBITDA margin expanded further to 76.6%, and PAT rose to ₹727 Mn. The ~₹1,000 Cr sovereign AI contract for Blackwell GPUs gives us strong revenue visibility through 2029. With shareholder approval for growth capital in place, we remain focused on aggressive and judicious capacity expansion to meet India's growing demand for AI compute.\"

Company Background

E2E Networks is India's leading AI-First Cloud GPU Platform, listed on NSE and BSE. The Company provides high-performance GPU cloud infrastructure for AI/ML workloads, including B200, H200, H100, RTX PRO 6000 and legacy GPU series from data centres in Noida and Chennai.

Important Notes

All financial figures for Q2 FY'27 and H1 FY'27 are unaudited and subject to limited review by the Statutory Auditors. Figures in ₹ million unless stated otherwise.