Any current/future new fundraising through debt or equity?

The company acknowledges the need for additional funds but will wait for new tenders to be awarded before approaching for funds. Once additional orders are secured, Kore Digital Limited plans to seek further funding. Current fundraising is not immediately required to meet revenue guidance for upcoming years; the existing plan accounts for current projections. No explicit mention of preferred mode of fundraising (debt or equity) was made during the call. The management is cautious and intends to justify fund requirements clearly before raising capital.

Any current/future capex/capital investment/strategic investment?

Kore Digital Limited is currently investing in additional machines for road work related to the Samruddhi Highway project; these machines have already been purchased (Page 11). The company is expanding its managerial and supervisory team, including additions at the manager and supervisor levels, and plans to bring in a couple more personnel to support large projects like Samruddhi (Page 9). At the top management level, consultants with telecom expertise have been engaged to oversee operations and follow-ups (Page 9). The company is exploring strategic investments in deep technology related to

Future growth expectations in sales/revenue/volumes?

Kore Digital targets 300 to 400 crores revenue for FY'25, reflecting strong growth expectations. The company aims for a challenging but achievable 1,000 crores revenue projection by FY'26. Revenue split forecast for FY'26 is approximately 30% telecom and 70% construction EPC. Growth driven by major projects like the Samruddhi corridor, with gradual ramp-up and completion in 1.5 years. Seasonal impacts affect quarterly revenues but not the annual outlook; strong growth expected in Q3 and Q4. Additional tender awards are awaited which could further boost revenue; capital raising planne

Future growth expectations in earnings/operating earnings/profits/EPS?

Kore Digital aims for significant revenue growth, projecting around ₹300-400 crores for FY'25 and targeting ₹1,000 crores in FY'25-26, though the latter is acknowledged as a challenge. Profit margins are expected to stabilize around 10% PAT for the entire year, with slight fluctuations due to seasonality and business scale increase. Margins may be slightly lower at higher volumes due to necessary concessions but are projected to remain fair and sustainable. Earnings per share (EPS) showed strong growth in H1 FY'25 (up 89.05% to 18.81), with optimism for further improvement as operations normal

Current/ Expected Orderbook/ Pending Orders?

The company is participating in multiple tenders and awaiting awards, with some tenders in the pipeline but not yet finalized. An additional tender is awaited to justify the need for raising additional funds to meet revenue guidance. A tender for 700 Kms (related to the Samruddhi Highway) is still on the table, with clarity expected after election results around November 25, 2024. Current revenue for FY25 is projected in the range of ₹300 to ₹400 crores, with potential upside if additional tenders are awarded. Aiming for ₹1,000 crores in the coming years is challenging but targeted, dependent

Kore Digital LtdQ2 FY25Telecom - Services

Kore Digital Ltd Q2 FY25 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹24P/E: 0.8Market Cap: ₹29 CrSector: Telecom - Services

Management growth scorecard

Revenue

Category 1

Margin

Category 3

Fundraise

Yes

Order

Yes

Capex

Yes

4 of 5 growth signals are positive — a strong management growth story.

Full analysis

Revenue guidance

Category 1

Kore Digital targets 300 to 400 crores revenue for FY'25, reflecting strong growth expectations.
The company aims for a challenging but achievable 1,000 crores revenue projection by FY'26.
Revenue split forecast for FY'26 is approximately 30% telecom and 70% construction EPC.
Growth driven by major projects like the Samruddhi corridor, with gradual ramp-up and completion in 1.5 years.
Seasonal impacts affect quarterly revenues but not the annual outlook; strong growth expected in Q3 and Q4.
Additional tender awards are awaited which could further boost revenue; capital raising planned once orders firm up.
The company expects steady profit margins around 10% on a yearly basis despite volume growth.
Continued diversification into related fields and strategic team expansions support scaling ambitions.

Margin guidance

Category 3

Kore Digital aims for significant revenue growth, projecting around ₹300-400 crores for FY'25 and targeting ₹1,000 crores in FY'25-26, though the latter is acknowledged as a challenge.
Profit margins are expected to stabilize around 10% PAT for the entire year, with slight fluctuations due to seasonality and business scale increase.
Margins may be slightly lower at higher volumes due to necessary concessions but are projected to remain fair and sustainable.
Earnings per share (EPS) showed strong growth in H1 FY'25 (up 89.05% to 18.81), with optimism for further improvement as operations normalize post-monsoon.
Seasonal fluctuations affect quarterly margins; better earnings and profit margins are anticipated mainly in Q3 and Q4.
Management emphasizes year-on-year performance over quarterly results for profit margin trends.
Additional tenders and funds are expected to support achieving the revenue and profit targets.

See what Kore Digital Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

Yes

The company acknowledges the need for additional funds but will wait for new tenders to be awarded before approaching for funds.
Once additional orders are secured, Kore Digital Limited plans to seek further funding.
Current fundraising is not immediately required to meet revenue guidance for upcoming years; the existing plan accounts for current projections.
No explicit mention of preferred mode of fundraising (debt or equity) was made during the call.
The management is cautious and intends to justify fund requirements clearly before raising capital.

Order book

Yes

The company is participating in multiple tenders and awaiting awards, with some tenders in the pipeline but not yet finalized.
An additional tender is awaited to justify the need for raising additional funds to meet revenue guidance.
A tender for 700 Kms (related to the Samruddhi Highway) is still on the table, with clarity expected after election results around November 25, 2024.
Current revenue for FY25 is projected in the range of ₹300 to ₹400 crores, with potential upside if additional tenders are awarded.
Aiming for ₹1,000 crores in the coming years is challenging but targeted, dependent on new orders and successful tender awards.
The normal project split is approximately 30% telecom and 70% EPC construction.
Operations are temporarily slowed due to Maharashtra elections but expected to normalize post-election.

See what Kore Digital Ltd management said on order book — free account, 30 seconds.

Capex plans

Yes

Kore Digital Limited is currently investing in additional machines for road work related to the Samruddhi Highway project; these machines have already been purchased (Page 11).
The company is expanding its managerial and supervisory team, including additions at the manager and supervisor levels, and plans to bring in a couple more personnel to support large projects like Samruddhi (Page 9).
At the top management level, consultants with telecom expertise have been engaged to oversee operations and follow-ups (Page 9).
The company is exploring strategic investments in deep technology related to defense through incubation initiatives with DRDO and IIT, aiming for projects with the Indian Airforce (Page 9).
Additional capital funds will be needed once new tenders are awarded; the company awaits tender finalization before formally approaching for these funds (Page 13).
No specific timeline beyond these points has been provided for other capital expenditures.

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