Key Financial and Operational Highlights
Financial Performance:
- Reported a 36% Year-over-Year (YoY) growth in Profit After Tax (PAT) for Q1 FY27.
- Operation and Maintenance (O&M) revenue grew by 40% YoY.
- Term debt decreased sequentially by approximately INR 160 crore due to scheduled repayments.
Order Book & Pipeline:
- Unexecuted Order Value (UOV) reached approximately INR 13,000 crore, described as the highest post-Covid.
- Domestic EPC order book stands at approximately INR 7,900 crore, providing revenue visibility.
- The domestic order book maintains steady gross margins of approximately 9-10%.
- The company has a bid pipeline of over 27.7 GW.
New Project Award:
- Won a marquee international project valued at approximately USD 560 million in Egypt.
- The project is for the West Minya Solar Power Project in Minya Governorate, Egypt.
- It is a 1,000 megawatt-AC solar PV plant integrated with a 600 megawatt-hour battery energy storage system.
- The project will be executed via a 50-50 joint venture with a leading contractor in Egypt and the MENA region.
Business Diversification:
- The company's business is now diversified across solar, wind, battery storage, and third-party O&M.
- The total EPC portfolio is over 28.7 GWp (including projects commissioned and under various stages of construction).
- The O&M portfolio manages 18.3 GWp of solar power projects, including projects constructed by third parties.
Management Commentary:
- Mr. Chandra Kishore Thakur, Global CEO, expressed confidence in the company's prospects due to its robust UOV.
- He stated that growth is expected to reflect on the topline and bottom-line in the coming months.
- The growing order book is cited as a testimony to customer confidence.
Geographical Presence:
The company has operations in 28 countries, including India, South-east Asia, Middle East, Africa, Europe, Australia, and the Americas.