Kore Digital

- Currently, there is no immediate need for capex as the company is "flooded with cash" (Page 9). - New machinery and equipment worth approximately INR 55-60 crores have been purchased, primarily for telecom and owning the network assets, including purchase of right of way (Page 5). - Planned future capex will depend on securing defense sector orders; capex will be undertaken when defense projects require it (Page 9, 10). - Once defense clearance and orders come through, additional government-backed funding (INR 100 crores) will be available for defense-related capex (Page 10). - Expansion plans include strategic alliances with international manufacturers for defense products, indicating future significant investments (Page 9). - No current capital raising planned, but future funding may be required aligned with project execution and price improvements (Page 14).

- Kore Digital expects strong growth with revenue projections of INR 600-700 crores in FY26, mainly from core telecom and road EPC business. - The Samruddhi Highway project is a significant contributor, expected to generate INR 600-1000 crores, with 2-3 similar projects in the pipeline (e.g., Mumbai-Delhi route). - Additional 3-4 big tenders in telecom and construction sectors are anticipated to support growth beyond FY26. - The company aims for 100% year-on-year growth over the next two years, with slower but sustained growth thereafter. - New defense sector ventures are expected to drive exponential growth, with potential revenue targets as high as INR 10,000 crore and beyond long-term. - Defense orders are expected starting FY25 end or FY26, potentially backed by government funding and strategic alliances. - The management projects diversification beyond pure telecom, including deep-tech defense products, to further expand revenues.

- The company expects revenue for FY26 in the range of INR 800 to 1,000 crores, with some delay in Samruddhi project causing a 6-month lag. - PAT margins for the current financial year are forecasted at approximately 8%-10%. - The growth trajectory is strong, with guarantees of 100% growth for the next two years. - Longer term, growth may moderate to around 50% annually, which is still considered significant. - New projects and tenders, especially in defense and telecom, are expected to contribute to future growth. - The defense segment is seen as a major future opportunity, with potential revenues of INR 10,000 crores down the line. - The company is investing in machinery and fixed assets to support growth. - Cash position is healthy; no immediate capex needed except after defense project clearance. - EPS and operating profits are expected to improve on the back of these expansions and new contracts.

- Samruddhi project is active but delayed by about 6 months; timeline extended accordingly. - Four additional projects mentioned: Cogent Communication (pending government permission), RailTel (active), Mumbai Metro (tender not won), and Crest Digital (survey ongoing). - Participation in five new tenders, expecting success in at least one by December. - Multiple smaller contracts expected alongside Samruddhi; Samruddhi is unique and large-scale. - Future pipeline includes 2-3 more Samruddhi-like projects (e.g., Mumbai-Delhi route) with strong government ties. - Defense-related orders anticipated this financial year, backed by strategic alliances and senior advisors. - Current core business revenue expected between INR 600-700 crores for FY26 from telecom and construction projects. - No immediate capital raise; focus on utilising current funds and securing new projects before considering fundraising.

- Currently, Kore Digital Limited does not have an immediate need for fundraising as they are "flooded with cash." - A recent payment of INR 20 crores was received from Vodafone, contributing to the cash reserves. - Ravindra Doshi mentioned that if the defense project comes through, there will be government-backed funding of INR 100 crores. - If additional funds are needed in the future, the company has investors and market access to raise capital. - There is no immediate plan for capital raising like QIP or preferential allotment. - Any future capital requirements, especially related to defense projects or expansion, will be evaluated and acted upon accordingly.