Financial Performance Highlights

Stand-alone Results (Q1 FY27):

  • Revenue: INR 236.8 crores, up 57% YoY (vs. INR 150.7 crores in Q1 FY26)
  • EBITDA: INR 20.9 crores, up 137% YoY (vs. INR 8.8 crores)
  • EBITDA Margin: 8.8% (vs. 5.8% in Q1 FY26)
  • PAT: INR 4.9 crores at 2.1% margin (vs. loss in Q1 FY26)
  • Gross Margin: 29.1% (up 2% QoQ, down 3.6% YoY)

Consolidated Results (Q1 FY27):

  • Revenue: INR 331.1 crores, up 61% YoY
  • EBITDA Loss: INR 21.9 crores (vs. INR 38.6 crores loss YoY)
  • PAT Loss: INR 73.6 crores (vs. INR 83.1 crores loss YoY)
  • Gross Margin: 31.7% (broadly stable QoQ)

Segment-wise Performance

Critical Power Segment:

  • Revenue: INR 177 crores, up 73% YoY
  • Exports: INR 15 crores (8% of segment sales)
  • Order Book: INR 1,000 crores as of date
  • Key drivers: New telecom orders, BharatNet project execution

EV Charging Segment:

  • Stand-alone Revenue: INR 61 crores, up 15% YoY
  • Consolidated Revenue Growth: 50% YoY
  • Order Book: INR 200 crores for AC/DC chargers (including USD 2 million exports)
  • Added 15 new network operators and won orders from 10 new countries

Tritium Performance:

  • Bookings: USD 21 million in Q1 (doubled from previous quarters)
  • Revenue: USD 10.5 million in Q1
  • Strategic trials underway for new products (TRI-FLEX, DC-FLEX, GRID-FLEX)
  • Target: EBITDA breakeven by Q4 FY27

Operational Updates

Hyderabad Plant:

  • Fully operational since Q4 FY26
  • Impact: Additional INR 8.7 crores fixed cost due to parallel running with Gurgaon plant
  • Depreciation increased by 67% YoY on stand-alone basis
  • Provides 3x production capacity for future growth

Capacity Utilization:

  • AC Chargers: ~100% utilization, adding new production line
  • DC Chargers: ~65% utilization
  • DC Power Systems: 90-100% utilization
  • PCBA Lines: ~100% utilization

Order Book and Pipeline

  • Consolidated Order Book: INR 1,400+ crores as of June 30, 2026
  • Critical Power: INR 1,000 crores
  • EV Charging: INR 200 crores
  • BESS Orders: 15 MWh (INR 20 crores) in hand + 34 MWh (INR 45 crores) in pipeline

Key Contracts and Wins

  • DC power systems order worth INR 85 crores from leading Indian telco
  • Supply agreement with one of India's largest tower companies for power systems and batteries
  • 60% share in BharatNet project (INR 700 crores open orders + INR 800 crores service order over 10 years)
  • BSNL Phase 2 program: 2,000 sites expected (INR 90-100 crores contract value)
  • 100% share of business with international brand for wallbox chargers

Financial Position

  • Consolidated Debt: INR 370 crores as of June 30, 2026
  • Working Capital: Temporary inventory build-up due to plant transition
  • Receivables: Elevated due to sharp revenue growth but aging profile intact
  • Liquidity: Adequate headroom for growth investments

Guidance and Outlook

  • Tritium: Targeting 3x revenue growth and EBITDA breakeven by Q4 FY27
  • Exports: Target to increase from 8% to 15% of Critical Power sales in FY27
  • Expect parallel run costs to phase out as Gurgaon transition completes