Financial Performance (Consolidated)

Full Year FY2026 (Year-ended March 31, 2026)

  • Revenue from Operations: ₹26,413 Mn (compared to ₹24,388 Mn in FY2025)
  • Gross Profit: ₹6,765 Mn (compared to ₹7,153 Mn in FY2025)
  • EBITDA: ₹4,552 Mn with 17.2% margin (compared to ₹4,817 Mn with 19.8% margin in FY2025)
  • EBIT: ₹4,432 Mn with 16.8% margin (compared to ₹4,757 Mn with 19.5% margin in FY2025)
  • Profit Before Tax (PBT): ₹4,295 Mn with 16.0% margin (compared to ₹3,839 Mn with 15.6% margin in FY2025)
  • Profit After Tax (PAT): ₹3,073 Mn with 11.4% margin (compared to ₹2,791 Mn with 11.3% margin in FY2025)
  • Earnings Per Share (EPS): ₹15.11 (compared to ₹16.30 in FY2025)

Q4 FY2026 (Quarter-ended March 31, 2026)

  • Revenue from Operations: ₹10,949 Mn (compared to ₹6,843 Mn in Q4 FY2025)
  • Gross Profit: ₹1,632 Mn with 14.9% margin (compared to ₹763 Mn with 11.2% margin in Q4 FY2025)
  • EBITDA: ₹1,632 Mn with 14.9% margin (compared to ₹763 Mn with 11.2% margin in Q4 FY2025)
  • Profit After Tax: ₹1,059 Mn with 9.5% margin (compared to ₹563 Mn with 8.2% margin in Q4 FY2025)

Operational Highlights FY2026

Manufacturing & Integration

  • 178 BESS containers delivered
  • ~80% manufacturing utilization
  • 7,877 telecom power systems manufactured
  • Strategic realignment across subsidiaries undertaken
  • Advancing in-house fabrication and localization initiatives

Execution & Deployment

  • FY26 BESS execution: 480 MWh
  • New telecom towers erected: 1,035
  • Power equipment commissioned: 1,297
  • OFC rollout: 2,109 km
  • Utility-scale BESS execution across EPC and BOO models

Lifecycle Services

  • BOO revenue recognized: ₹5,578 Mn
  • Completed BSNL 4G saturation tower deployment; entered O&M phase
  • Pan-India deployment and O&M footprint

Order Book Status (as of May 25, 2026)

BESS Business: ₹88,540 Mn Executable Order Book

BOO Projects (₹44,330 Mn):

  • MESDCL: 1.02 GWh standalone BESS - ₹12,580 Mn
  • SECI: 0.10 GWh solar + BESS - ₹7,000 Mn
  • KPTCL: 0.50 GWh standalone BESS - ₹7,000 Mn
  • KREDL: 1.10 GWh solar + BESS - ₹17,750 Mn

EPC Projects (₹44,087 Mn):

  • SECI: 1.20 GWh standalone BESS - ₹11,593 Mn
  • MAHAGENCO: Solar EPC - ₹9,200 Mn
  • NLC India: 0.50 GWh standalone BESS - ₹7,099 Mn
  • DVC: 0.50 GWh standalone BESS - ₹7,020 Mn
  • NTPC: 0.40 GWh standalone BESS - ₹5,836 Mn
  • Bondada Engineering: Solar BOS - ₹3,340 Mn

Supply Project (₹123 Mn):

  • Yaqin Chem: 0.0037 GWh standalone BESS - ₹123 Mn

Telecom/ICT Business: ₹24,839 Mn Executable Order Book

EPC + O&M (₹16,593 Mn):

  • BSNL: Telecom Infra - ₹15,000 Mn
  • RNS: Telecom Infra - ₹1,149 Mn
  • TANFINET: OFC Network - ₹444 Mn

EPC (₹3,623 Mn):

  • BSNL: OFC Network - ₹2,647 Mn
  • Railtel: ICT - ₹750 Mn
  • Indian Railways: Railway Kavach - ₹226 Mn

Supply (₹2,560 Mn):

  • BSNL: Power Management - ₹560 Mn
  • Reliance: Power Management - ₹1,200 Mn
  • BSNL: Power Management - ₹800 Mn

O&M (₹1,923 Mn):

  • Tata Teleservices: Telecom O&M - ₹1,923 Mn

**Others (₹140 Mn)

Balance Sheet Highlights (Consolidated)

As of March 31, 2026:

  • Equity share capital: ₹432 Mn (vs ₹357 Mn in FY2025)
  • Other equity: ₹21,641 Mn (vs ₹11,342 Mn in FY2025)
  • Total Equity: ₹22,522 Mn (vs ₹12,090 Mn in FY2025)
  • Long term borrowings: ₹6,067 Mn (vs ₹242 Mn in FY2025)
  • Short term borrowings: ₹3,540 Mn (vs ₹1,365 Mn in FY2025)
  • Total Debt: ₹9,607 Mn (vs ₹1,607 Mn in FY2025)
  • Debt/Equity: 0.43x (vs 0.13x in FY2025)
  • Cash and bank balances: ₹7,691 Mn (vs ₹2,164 Mn in FY2025)
  • Net Debt: ₹1,916 Mn
  • Net Debt/Equity: 0.09x
  • ROE: 13.6% (vs 23.1% in FY2025)
  • ROCE: 14.3% (vs 37.9% in FY2025)

IPO Proceeds Deployment: ₹4,173 Mn deployed towards MSEDCL BESS project capex as of FY2026-end, with remaining funds planned for utilization during FY2027.

Standalone Financial Performance

Full Year FY2026

  • Revenue from operations: ₹17,108 Mn (24.7% decrease YoY)
  • PAT: ₹2,465 Mn (5.6% increase YoY)
  • PAT margin: 14.0% (vs 10.1% in FY2025)

Q4 FY2026

  • Revenue from operations: ₹4,870 Mn (21.4% decrease YoY)
  • PAT: ₹406 Mn (46.7% decrease YoY)
  • PAT margin: 8.1% (vs 12.0% in Q4 FY2025)

Additional Information

  • CSR initiatives undertaken including school infrastructure development and wheelchair distribution
  • Manufacturing capacity expansion ongoing to meet growing demand
  • MSEDCL Standalone BESS 750 MW/1500 MWh project at three locations in Maharashtra
  • The presentation includes historical financial data from FY2023-FY2025 for comparison
  • Document contains standard disclaimer regarding forward-looking statements