Financial Performance Highlights (FY 2025-26)

Revenue & Profitability:

  • Revenue from Operations: ₹2,183.6 crore (90.0% YoY growth from ₹1,149.0 crore)
  • Operating EBITDA: ₹284.8 crore (79.1% YoY growth)
  • PAT: ₹205.8 crore (80.9% YoY growth from ₹113.8 crore)
  • PBT: ₹276.5 crore (80.7% YoY growth from ₹153.0 crore)
  • Diluted EPS: ₹36.30 (80.5% YoY growth from ₹20.11)

Balance Sheet Strength:

  • Total Assets: ₹2,254.9 crore (152.8% increase)
  • Net Worth: ₹723.3 crore
  • Net Debt: ₹(1,243.5) crore (negative debt position)
  • Net Debt to Equity: (0.17x)
  • Cash and Cash Equivalents: ₹365.5 crore (115% increase)
  • Inventories: ₹804.8 crore (264% increase from ₹221.3 crore)
  • Trade Receivables: ₹669.9 crore (85% increase from ₹361.5 crore)
  • Trade Payables: ₹760.7 crore (155% increase from ₹297.9 crore)

Segment-wise Revenue Breakdown:

  • AI Systems: ₹947.8 crore (43.4% of total, 459.6% YoY growth)
  • High-Performance Computing: ₹530.8 crore (24.3% of total, 30.9% YoY growth)
  • Private Cloud & HCI: ₹516.9 crore (23.7% of total, 28.4% YoY growth)
  • High-Performance Storage: ₹32.8 crore (1.5% of total, 19.3% YoY growth)
  • Data Centre Servers: ₹32.1 crore (1.5% of total, -14.0% YoY decline)
  • Software & Services: ₹51.4 crore (2.4% of total, 12.9% YoY growth)

Annual General Meeting Details

  • Meeting Date: Saturday, September 19, 2026 at 03:00 PM IST
  • Mode: Video Conferencing/Other Audio Visual Means (VC/OAVM)
  • Cut-off Date: Friday, September 11, 2026 for determining voting rights
  • Remote e-voting Period: September 16, 2026 (09:00 AM) to September 18, 2026 (05:00 PM)
  • E-voting Service Provider: MUFG Intime India Private Limited

Business Resolutions:

Ordinary Business:

1. Adoption of audited financial statements for FY 2025-26

2. Declaration of final dividend of ₹3.00 per equity share (150% of face value)

3. Re-appointment of Mr. Navin Lodha (DIN: 00461924) as Whole-Time Director

Special Business:

4. Ratification of Cost Auditors' remuneration of ₹90,000 + taxes for FY 2026-27

5-8. Payment of commission to Whole-Time Directors based on FY 2025-26 profits

Sustainability Performance (BRSR) Disclosure

Principle 2: Sustainable Goods and Services:

  • 80% of inputs sourced through Sustainable Sourcing Policy
  • 42 vendor-operated waste collection and drop-off points
  • EPR compliance with waste collection plan aligned with Pollution Control Board requirements

Principle 3: Employee Well-being:

  • Total employees: 665 (569 permanent, 96 other than permanent)
  • 100% permanent employees covered by health and accident insurance
  • Zero Lost Time Injury Frequency Rate (LTIFR) for both FY 2025-26 and FY 2024-25
  • 100% employees trained on health & safety and skill development
  • 1.74% of value chain partners assessed on health & safety practices

Principle 6: Environmental Protection:

  • Total energy consumption: 8,547.78 GJ (40.7% reduction in energy intensity per rupee of revenue)
  • GHG emissions: Scope 1: 235.30 tCO2e, Scope 2: 1,062.71 tCO2e, Scope 3: 365.74 tCO2e
  • 45.4% reduction in combined Scope 1 and 2 emission intensity
  • Water withdrawal: 7,208.37 KL (66.7% reduction in water intensity)
  • Waste management: 35.51 MT total waste generated, ~90% recycled via CPCB-authorised recycler

Other Principles:

  • 100% human rights training for employees, zero POSH complaints
  • 11 CSR projects, ₹21.12 million required spending, ₹20.92 million actually spent
  • Zero consumer complaints and data breaches
  • Membership in 4 industry associations (MAIT, FICCI, AICRA, LIFE)

Operational Highlights

Business Metrics:

  • Order Book: ₹20,976 crore
  • L1 Orders: ₹3,278 crore
  • Pipeline: ₹44,315 crore
  • Repeat Customers Contribution: 75.6% of revenue
  • 302 repeat customers associated for over 6 years
  • 131 new clients onboarded in FY26

Installation Base:

  • 600+ supercomputing systems installed
  • 60+ Private Cloud and HCI installations
  • 10,000+ accelerator/GPU-based AI Systems
  • 3 supercomputers listed 17 times in world's top 500

Manufacturing & R&D:

  • Commissioned 15,000 sq. ft. facility for dense GPU AI system manufacturing
  • Advanced Surface-Mount Technology (SMT) lines installed
  • 110 R&D professionals (19.33% of workforce)
  • R&D expenditure: ₹13.14 crore including capex
  • 17 registered and applied patents and designs
  • 18 trademarks registered

Corporate Actions & Capital Structure

Dividend:

  • Final dividend of ₹3.00 per equity share recommended
  • Total cash outflow: approximately ₹17.08 crore
  • Record date: August 7, 2026
  • Payment date: On or before October 18, 2026

ESOPs:

  • 2,86,819 equity shares allotted pursuant to ESOP exercise during FY26
  • ESOP benefits amounting to approximately 0.5% of total paid-up share capital
  • 4,935 options granted during FY 2024-25 at exercise price of ₹2 per option

IPO Proceeds Utilization:

  • Total net proceeds: ₹194.0 crore fully utilized for:
  • Capital expenditure: ₹20.97 crore
  • Working capital: ₹128.02 crore
  • Debt repayment: ₹22.50 crore
  • General corporate purposes: ₹22.53 crore

Production Linked Incentive (PLI) Scheme:

  • PLI Scheme 2.0 for IT Hardware approved effective from FY 2023-24 to 2028-29
  • Eligible product: Servers
  • FY 2024-25 incentive: ₹5.94 crore recognized as other operating revenue

Board, Management & Governance

Board Composition:

  • Mr. Sanjay Lodha (Chairman and Managing Director)
  • Mr. Navin Lodha (Whole-Time Director)
  • Mr. Vivek Lodha (Whole-Time Director)
  • Mr. Niraj Lodha (Whole-Time Director)
  • Mr. Mrutyunjay Mahapatra (Independent Director)
  • Prof. Jasjeet Singh Bagla (Independent Director)
  • Mrs. Romi Jatta (Independent Director)
  • Mr. Vikas Modi (Independent Director)

Key Managerial Personnel:

  • Mr. Ankit Kumar Singhal (Chief Financial Officer)
  • Mr. Lohit Chhabra (Company Secretary & Compliance Officer)

Auditors and Compliance:

  • Statutory Auditors: S S Kothari Mehta & Co. LLP (unmodified audit opinion)
  • Secretarial Auditors: M/s P.C Jain and Co
  • Internal Auditors: M/s Sanmarks and Associates
  • Cost Auditors: M/s Sunny Chhabra & Co
  • Credit Rating: CRISIL A+/Stable (long-term), A1 (short-term)

Risk Factors & Regulatory Compliance

Financial Risks:

  • Market risk: Exposure to interest rate fluctuations on ₹270.6 crore variable rate borrowings
  • Foreign currency risk: Unhedged exposure of USD 15.92 million in trade payables
  • Credit risk: Concentration in trade receivables (88-94% due within 180 days)

Operational Risks:

  • Supply chain risks: Dependence on sustainable sourcing practices and vendor compliance
  • Environmental compliance: Adherence to EPR regulations and pollution control requirements
  • Human resource risks: Retention of skilled workforce

Regulatory Compliance:

  • No material orders passed by regulators/courts affecting going concern status
  • All related party transactions conducted on arm's length basis
  • Vigil mechanism and whistleblower policy in place
  • Tax compliance: No undisputed statutory dues in arrears except custom duty demand of ₹1.06 crore under dispute
  • Bank guarantees: ₹136.31 crore outstanding

Forward-looking Statements

The documents contain forward-looking statements based on current beliefs, expectations, and intentions regarding future events, identified by words such as "believe", "plan", "anticipate", "continue", "estimate", "expect", "may", "will". Actual results may vary materially from these statements.