E2E Networks Ltd

- The company has not provided specific guidance on fresh equity fundraising in the near term. - Tarun Dua mentioned they will keep the market informed about any equity fund raise plans. - For debt, part of the INR600-650 crore capex for Blackwell GPUs was funded through term loans from Axis and HDFC Bank. - No explicit mention of new or planned debt funding rounds beyond this was disclosed. - Management intends to provide updates on any future fundraising activities as and when decisions are made. Summary: As of now, E2E Networks plans to update investors regarding any equity fundraising and has already utilized term loans for recent GPU investments, but no immediate new fundraising through debt or equity was confirmed.

- Capex for procurement of 1,024 Blackwell GPUs is around INR 600-650 crores, partly funded through term loans from Axis and HDFC Bank. - Ongoing expansion of Blackwell GPU capacity, with additional hardware recently received and deployment expected to complete before end of Q4 FY '26. - Further Blackwell GPU orders and capacity expansion are in progress, targeting additional GPUs beyond current inventory. - No specific capex guidance for FY '26, FY '27, or FY '28 released yet; management plans to provide detailed guidance in the coming weeks. - Strategy involves a balance of prudent and aggressive investment to capture demand and expand infrastructure capabilities. - Focus on building standards-based infrastructure and investing heavily in software and AI capabilities to enhance platform and ROI for customers.

- Strong revenue growth demonstrated with Q3 FY26 revenue at INR700 million, up 68.3% YoY and 59.8% QoQ. - Monthly revenue run rate reached INR280 million in December 2025, with further growth expected due to India AI Mission contracts and enterprise engagements. - Targeting GPU utilization between 80%-90% during FY26-27 to boost sales volumes. - Incremental revenue potential from new Blackwell GPUs estimated around INR245-250 crores ARR. - Expect significant ramp-up in India AI Mission workloads in Q4 FY26 and beyond. - Growth fueled by increasing enterprise and sovereign cloud workload adoption. - Continuous investment in software and AI capabilities to unlock new revenue streams. - Elastic capacity model allows for capturing fluctuating demand, enabling revenue scalability. - Long-term confidence in becoming a sustainable AI market leader from India.

- E2E Networks expects strong revenue momentum driven by higher GPU utilization, increased enterprise and sovereign workloads, and India AI mission contracts. - Monthly revenue run rate hit INR 280 million in Dec 2025; target of INR 350-400 million MRR by March 2026 remains intact. - EBITDA margin improved to 56.6% in Q3 FY26 with expectations to reach approximately 65-70% as scale increases. - PAT showed a loss in Q3 due to higher depreciation but improved quarter-on-quarter by 58%, with earnings trending positive as new capacity matures. - The company aims to achieve 80-90% GPU capacity utilization in FY 27 to enhance profitability. - Long-term focus on AI/ML cloud GPU infrastructure and software/AI capabilities to drive sustainable returns. - ROE targeted north of 20% over next 3-4 years, dependent on execution and demand. - Incremental EBITDA break-even on new GPUs expected at 75-80% utilization.

- E2E Networks continues to work closely with many customers, including through partners like L&T, to secure more orders. - L&T order won in the recent quarter is a key enterprise engagement; further orders through L&T and directly from enterprise clients are expected but not yet finalized. - CEO Tarun Dua mentioned ongoing efforts to expand capacity and indicated updates on orders and capacity expansion will be provided as deployments progress. - Recent procurement of 1,024 Blackwell B200 GPUs and ongoing expansion suggest ramp-up in order wins expected in Q4 FY26 and Q1 FY27. - The company refrains from giving precise order book numbers publicly but continues to see traction from both India AI Mission and enterprise customers. - Management is optimistic about order flow but prefers to update the market periodically as deals finalize and capacity deploys.