• The document contains the transcript of the Quarter and Half Yearly ended September 30, 2026 Results Conference Call hosted on November 05, 2026.
  • The event was an earnings conference call to discuss Q2 FY27 financial results and business updates, following the company's results intimation dated October 28, 2026.
  • The call was hosted on November 05, 2026, with management participants including:
  • Mr. Nageswara Rao Kandula – Managing Director
  • Mr. Ramakrishna Kandula – Executive Director
  • Mr. Katragadda Venkata Mohana Rao – Executive Director
  • Mr. Yasuyuki Ikeda – Executive Director
  • Mr. Anjaneyulu Pathuri – Chief Financial Officer
  • Mr. Kasu Brahma Reddy – Managing Director of GScale Energy Private Limited
  • The company reported strong financial performance for Q2 FY27:
  • Total revenue: INR296.6 crores, representing 62.3% YoY growth
  • EBITDA: INR51.4 crores, up 79.7% YoY
  • Profit before tax: INR39.2 crores, up 41.4% YoY
  • Profit after tax: INR28.2 crores, up 37.9% YoY
  • For H1 FY27 performance:
  • Total revenue: INR544.3 crores, up 53% YoY
  • EBITDA: INR91 crores, up 56.5% YoY
  • Profit before tax: INR75 crores, up 33.9% YoY
  • Profit after tax: INR54.9 crores, up 32.2% YoY
  • Operating cash flow: INR61 crores (exceeding previous full year's INR45 crores)
  • The reduction in profit growth compared to EBITDA growth was attributed to decreased interest income due to deployment of surplus funds for acquisitions of stakes in GScale Energy Private Limited and GL Hakko Company Limited.
  • Management provided guidance for FY27:
  • Targeting total revenue of INR1,450 crores
  • Core business expected to grow 50%
  • GScale expected to contribute INR250 crores revenue in Q4 FY27
  • Business strategy updates:
  • Transforming from equipment manufacturing to integrated engineering solutions provider
  • Targeting pharmaceutical, chemical, biotechnology and food industries
  • Strong CDMO sector opportunities with significant orders received
  • International business growth with increased inquiries from US and Europe
  • Partnership with GL Hakko Japan (19.19% stake acquired) to strengthen glass lining technology
  • GScale Energy updates:
  • Targeting data center cooling and power infrastructure market
  • Secondary fluid network production to start December 15, 2026
  • Power products production to start January 15, 2027
  • Currently in advanced discussions with multiple MNC customers
  • Targeting exports to Middle East and EMEA markets with 25-30% cost advantage
  • Capacity expansion plans:
  • Core business: Current 8 lakh sq ft, adding 3-4 lakh sq ft (total 1.2 million sq ft)
  • GScale: 4 lakh sq ft currently, building 1.5-1.6 million sq ft greenfield project on 36-acre site
  • Total GScale capacity: 1.95 million sq ft
  • Order book status:
  • Current order book: INR1,000 crores
  • H1 FY27 order inflow: INR600 crores
  • Targeting another INR600 crores in H2 FY27
  • Export target: 7-8% of revenue in FY27, increasing to 20-30% in 2-3 years
  • Margin guidance:
  • GScale expected EBITDA margins: 20-25%
  • Core business current EBITDA margin: 17.3%, expected to reach 20%

Additional Notes Section

  • The document includes the full transcript of the earnings conference call with detailed Q&A session covering financial performance, business strategy, growth opportunities, and operational updates.
  • The filing was made to BSE and NSE listing departments pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
  • The document was digitally signed by Kallam Hima Priya, Company Secretary & Compliance Officer, on November 10, 2026.
  • The announcement contains forward-looking statements and indicates that discussions included business outlook and growth strategies.