Summary of Key Information:
Reporting Period: Quarter and Half Year ended September 30, 2026
Nature of Filing / Announcement: Unaudited Financial Results under SEBI Listing Regulations
Audit Opinion:
Clean opinion - Statutory auditors carried out limited review and expressed an unmodified conclusion on both standalone and consolidated financial results.
Key Financial Highlights [₹ in crores]:
Standalone Results:
Quarter Ended September 30, 2026:
- Revenue from Operations: ₹1,399 Cr (Q2 FY26: ₹559 Cr; Q1 FY27: ₹929 Cr)
- Total Income: ₹1,469 Cr
- EBITDA: ₹539 Cr (Q2 FY26: ₹74 Cr; Q1 FY27: ₹251 Cr)
- Net Profit: ₹319 Cr (Q2 FY26: -₹2 Cr; Q1 FY27: ₹125 Cr)
- EPS: ₹6.37 basic, ₹5.77 diluted
Half Year Ended September 30, 2026:
- Revenue from Operations: ₹2,328 Cr (H1 FY26: ₹1,102 Cr)
- Total Income: ₹2,447 Cr
- EBITDA: ₹790 Cr (H1 FY26: ₹153 Cr)
- Net Profit: ₹444 Cr (H1 FY26: ₹0 Cr)
- EPS: ₹8.86 basic, ₹8.04 diluted
Consolidated Results:
Quarter Ended September 30, 2026:
- Revenue from Operations: ₹2,529 Cr (Q2 FY26: ₹1,034 Cr; Q1 FY27: ₹1,910 Cr) - 145% YoY growth, 32% QoQ growth
- Total Income: ₹2,563 Cr
- EBITDA: ₹846 Cr* (Q2 FY26: ₹141 Cr; Q1 FY27: ₹397 Cr) - 500% YoY growth
- Net Profit: ₹517 Cr (Q2 FY26: ₹4 Cr; Q1 FY27: ₹197 Cr)
- EPS: ₹10.32 basic, ₹9.36 diluted
- EBITDA Margin: 33.5% (624 bps QoQ expansion)
Half Year Ended September 30, 2026:
- Revenue from Operations: ₹4,439 Cr (H1 FY26: ₹2,054 Cr)
- Total Income: ₹4,484 Cr
- EBITDA: ₹1,243 Cr* (H1 FY26: ₹281 Cr)
- Net Profit: ₹714 Cr (H1 FY26: ₹14 Cr)
- EPS: ₹14.25 basic, ₹12.93 diluted
- EBITDA Margin: 28.0%
*Includes one-time net gain of US tariff refund worth ₹161 Cr
Balance Sheet Position (Consolidated as at September 30, 2026):
- Cash and Cash Equivalents: ₹528 Cr
- Other Bank Balances: ₹110 Cr
- Total Current Assets: ₹4,109 Cr
- Total Non-Current Assets: ₹3,921 Cr
- Total Assets: ₹8,030 Cr
- Borrowings (Current): ₹317 Cr
- Borrowings (Non-Current): ₹547 Cr
- Total Liabilities: ₹3,487 Cr
- Other Equity: ₹4,440 Cr
- Total Equity: ₹4,543 Cr
- Net Debt-Free Status: Net cash balance of ₹703 Cr
Segment-wise Performance:
Optical Networking Business:
Quarter Ended September 30, 2026:
- Revenue: ₹2,461 Cr (Q2 FY26: ₹980 Cr; Q1 FY27: ₹1,842 Cr)
- Segment EBITDA: ₹851 Cr (Q2 FY26: ₹136 Cr; Q1 FY27: ₹401 Cr)
- Segment Assets: ₹6,218 Cr
Digital and Technology Solutions:
Quarter Ended September 30, 2026:
- Revenue: ₹86 Cr (Q2 FY26: ₹65 Cr; Q1 FY27: ₹72 Cr)
- Segment EBITDA: ₹2 Cr (Q2 FY26: ₹1 Cr; Q1 FY27: ₹2 Cr)
- Segment Assets: ₹213 Cr
Corporate Actions:
Dividend: Not declared
Capital Raising:
- Qualified Institutional Placement (QIP): Allotted 25,728,500 equity shares of face value ₹2 each at issue price of ₹583.01 per share aggregating to ₹1,500 Cr
- Preferential Warrants: Received ₹124.58 Cr (25% of warrant issue price) in Q4 FY26
- ESOP Allotment: Allotted 196,395 equity shares upon exercise of employee stock options
Shareholding Change: Promoter shareholding reduced from 44.44% (March 31, 2026) to 42.29% post-QIP
Other Significant Information:
Order Book: Open order book of ₹35,274 Cr with multi-year visibility
Major Contract Wins in H1 FY27:
- $1.2 Bn (~₹11,500 Cr) multi-year agreement with hyperscaler (CY26-CY30)
- $1.11 Bn (~₹10,500 Cr) product award from hyperscaler (FY27-FY29)
- $288 Mn (~₹2,700 Cr) deal with hyperscaler for optical fibre cable products (CY27-CY29)
- $210 Mn (~₹2,000 Cr) deal with telecom infrastructure company (CY27-CY29)
- ₹960 Cr multi-year optical cable supply agreement with Indian telecom operator
Innovation & Patents:
- Total patent count: 800+
- New product launches: Pre-Terminated Fibre Trunk Assemblies, Plenum-rated Fibre Trunk, CONCAT FTTH solution
- Patent dispute win in Europe for IBR cable family
Capacity Expansion: Capital work-in-progress of ₹175 Cr (Consolidated), ₹159 Cr (Standalone)
ESG Initiatives:
- 4.5 MWp solar installed
- 2.69 million m³ water replenished across 53 villages
- 4+ lakh saplings planted
- Committed to Net-Zero by 2030 target