Pace Digitek Ltd

- The company plans to fund about 70% of certain projects through debt and 30% through equity. - For the build-own-operate projects (developer model), equity infusion will primarily come from IPO proceeds (INR820 crores issue size with INR630 crores allocated to one specific project). - As on September 30, 2025, net worth was about INR1,331 crores before IPO funds (IPO funds received post September 30, accounted from Q3 FY26). - Additional capital expenditures for expanding battery energy storage system (BESS) capacity are planned (INR100-120 crores for new 5 GWh expansion). - Internal accruals, LC limits, and mobilization advances fund EPC and supply contracts, implying no immediate equity or debt raise needed for these. - No mention of any fresh equity raising apart from IPO proceeds; debt levels as of H1 FY26 are moderate (INR150 crores with 0.11 debt-equity ratio). - Overall, current new fundraising appears focused on utilizing IPO equity and manageable project debt.

- Expansion of Battery Energy Storage System (BESS) capacity from 5 GW to 10 GW at the same facility, with a capex of around INR 100 crores for the additional 5 GW. - Initial 5 GW BESS facility capex was about INR 120 crores (excluding land), or INR 200 crores including land. - Construction of a container fabrication unit to backward integrate and reduce production costs for BESS. - INR 630 crores of IPO funds allocated specifically for a major project, with INR 150 crores already spent from internal accruals/debt; full utilization expected by September 2026. - Additional investment of around INR 100 crores planned for expansion and setup of a new factory for BESS manufacturing. - Emphasis on funding through a mix of IPO equity, debt (70% for developer projects), and internal approvals for EPC and supply contracts.

- FY26 revenue target: INR 2,600 - 2,700 crores with 11% to 12% PAT margin (Page 6, 14) - FY27 revenue target: INR 3,100 - 3,200 crores with 11% to 12% PAT margin (Page 6, 14) - Order book of INR 9,135 crores expected to convert mostly in FY26 and FY27 (Page 6) - Energy segment revenue growth: From INR 160 crores last year to INR 500-550 crores in FY26 (Page 8) - Expansion of BESS manufacturing capacity from 5 GWh to 10 GWh by FY27, project cost ~INR 100 crores (Pages 9, 12) - BESS business EBITDA margins expected between 13% to 15% (Page 13) - Developer model projects (~INR 3,300 crores) expected to begin contribution from FY27, full revenue by FY28 (Pages 6, 12) - Expect increase in order intake and revenue from energy segment alongside telecom (Page 21)

- FY26 revenue guidance: INR 2,600-2,700 crores with PAT margin of 11-12%. - FY27 revenue target: INR 3,100-3,200 crores with PAT margin sustained at 11-12%. - Strong order book of INR 9,135 crores, with significant revenue conversion expected in FY26 and FY27. - Energy segment expected to grow from INR 160 crores (previous year) to INR 500-550 crores in FY26, contributing significantly to revenue. - Battery Energy Storage System (BESS) capacity expansion from 5 to 10 GWh expected to generate INR 6,000-7,000 crores potential peak revenue with EBITDA margins between 13-15%. - Developer model projects (worth INR 3,300 crores) expected to provide annual revenue of about INR 420 crores with an EBITDA margin around 85% from FY27 onwards, contributing strongly to profits. - Operational efficiencies and backward integration initiatives aim to improve product margins from 15-18% and overall EBITDA margins around 25-30%.

- Total current order book: INR 9,135 crores (Energy: INR 5,869 crores; Telecom: INR 3,266 crores) - Energy segment order book expected to increase to INR 8,000 - 10,000 crores by end of FY 2026 - BSNL 4G order book: INR 2,573 crores - INR 1,300-1,400 crores expected to be booked in FY 2026 - Balance INR 1,200 crores spread over next 3-4.5 years for O&M - EPC contract from SECI for battery energy storage system: INR 1,159 crores - Developer model projects (energy): INR 3,300 crores with annual revenue potential of INR 420 crores (EBITDA margin ~85%) - Projects such as solar EPC with MAHAGENCO: INR 920 crores - Target execution: 40 BESS sites for MSEDCL in FY 2026 (each 20 MWh) - Overall revenue guidance for FY 2026: INR 2,600 - 2,700 crores; for FY 2027: INR 3,100 - 3,200 crores