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Financial performance and key operating metrics:
Operating Revenue for Q2FY27 is Rs. 1,323 Crs., 335.69% growth YoY, Total Income is Rs. 1,336 Crs., 338.58% growth YoY, Gross Profit is Rs. 265 Crs., 218.22% growth YoY, EBITDA is Rs. 197 Crs., 334% growth YoY, But EBITDA Margin is 14.9% declined by 6 Basis points YoY, PBT Rs. 183 Crs., 334.57% growth YoY, PAT Rs. 137 Crs., 334.81% growth YoY.
On QoQ basis Op. Revenue is up by 61.44%, Total Income is up by 61.34%, EBITDA is up by 63.7%, PBT is up by 60.02% PAT is also up by 60.177%.
Another record-breaking quarter” with “highest ever quarterly revenue from operations and profit after tax.
Balance sheet: Achieved zero net debt; net cash ₹14cr (Sep 2026).
QIP / capital raise: Raised ₹1,200cr (first capital raise post listing).
• Unutilized QIP proceeds: ~₹403cr.
• Utilized: ₹767cr as of Sep 2026.
Order book (as of Sep 30, 2026): ₹2,629cr.
Additional L1 position: ₹653cr (implying ₹3,100–₹3,200cr combined)
Pipeline: ₹11,152 cr described as “total value of business opportunity currently under pursuit,” explicitly distinguished from TAM (“significantly larger”).
Memory prices “gone up by 200% or maybe even more,” but no demand impact.#WatchOutFor#EquityResearch#MacroViews#TrendingSectors#FundamentalViews
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