GP Eco Solutions

- There is no explicit mention of any current or planned new fundraising through debt or equity during the call. - The company has taken on long-term debt mainly for setting up factories and projects, with debt increasing from INR 33 crores to INR 72 crores in six months. - Debt is expected to be managed and offset by returns from the new factories and products. - The debt-equity ratio is expected to be maintained over the next two years. - Working capital needs are met efficiently, and the company does not expect significant CapEx or fundraising for executing projects as 85% of project costs are recovered within one to two months after approvals. - CapEx for new facilities like the solar module and cell manufacturing has been deferred to FY27 and FY28. - If new government schemes like PLI arise, the company is interested but currently considers existing PLIs exhausted.

- The company plans a phased CapEx for a solar top-con module facility and cell manufacturing capacity. - The 1.2 gigawatt module facility CapEx originally planned for the current year has been deferred to FY27 due to higher traction in BESS and increased competition in the module industry. - Cell manufacturing capacity is slated for FY28. - The total investment for setting up a 3 gigawatt BESS manufacturing facility is around INR 30-40 crores, with an added 2.5 gigawatt expansion on top of an existing 500 megawatt-hour semi-automatic facility. - The new BESS facility, fully automated, is expected to be operational by January-February FY26. - CapEx for new projects is mostly long-term loans; working capital needs are managed efficiently without major hindrance. - Further CapEx plans will be revised and shared once finalized.

- FY26 revenue guidance is approximately INR 700 crore to INR 750 crore, targeting 3x growth this year and 5x growth in FY27. - CAGR expected around 80% over three years, with some conservative estimates mentioning 50% but clarified to be closer to 80%. - BESS supply target for FY27 is around 150 to 200 megawatt-hours, with potential to scale up to 500 megawatt-hours depending on investor/developer confidence. - Order book for BESS as of H1 FY26 is ~30 megawatt-hours, aiming to reach 50 megawatt-hours by March and grow beyond with factory ramp-up. - Targeting 10% market share in the utility BESS segment in India. - Revenue segments expect growth with EPC projects (~INR 150 crore), residential and C&I segments (~INR 200 crore), and inverter/product sales (~INR 100 crore). - Margins expected to improve from 8-9% range to approximately 13%-14% EBITDA in FY26, scaling to 17%-18% by FY27.

- GP Eco Solutions India Limited targets **80% CAGR in revenue** over the next three years, driven by investments in BESS, solar manufacturing, and integrated project execution. - EBITDA margin for FY26 is expected to be around **13% to 14%**, scaling up to **17% to 18% by FY27**. - PAT margins have improved from 4% to approx. 8% currently, expected to sustain or improve with increased scale. - Revenue guidance for FY26 is between **INR 700 crore to INR 750 crore**, with PAT around INR 50 crore. - Strong growth expected from BESS facility near completion, 1.2 GW solar module & cell lines, and a robust EPC pipeline. - Focus on expanding market share to **10% in the Indian utility BESS segment**, targeting scalable and sustainable growth. - EBIT and profits expected to benefit from enhanced technology integration, manufacturing expansion, and strategic execution.

- Current BESS order book is around 30 megawatt hours (MWh), with additional projects expected to be finalized soon (Page 14). - Targeting to secure approximately 50 MWh of BESS orders by March FY26 with current capacity (Page 14). - Existing EPC order execution of around INR 150 crores under the Invergy brand and approximately INR 200 crores upcoming in H2 FY26 (Page 16). - For solar modules, orders are being finalized quickly due to upcoming policy changes increasing costs by ~25% on solar cells (Page 26). - Oriana has given a trial order, which is on track for commissioning by December 15, with a further pipeline of 20-30 MWh fixed from them pending performance proof (Page 24). - Overall, the company is confident of exponential growth in order book driven by investor and developer confidence post successful project executions.