Seshaasai Technologies Ltd

- The transcript does not provide explicit figures or detailed commentary on the current or expected order book or pending orders for Seshaasai Technologies Limited. - However, it mentions strong momentum in Q4 FY '26 with some projects on the anvil expected to move into fruition in FY '27. - The company added 21 new accounts in the payment business, around 65 new customers in the IoT business, and 8 in the Communication Fulfilment Services (CFS) business during the year. - They have good visibility for metal cards and base payment card businesses for the current year. - International opportunities are being pursued through partners and global RFPs, but revenue visibility is not confirmed yet. - The management prefers to provide formal guidance and updates on order flows after Q1 FY '27 due to macro uncertainties.

- No specific guidance or plans for new fundraising through debt or equity were mentioned for FY '27. - The company continues to utilize IPO funds for capital expenditure and growth initiatives. - Post IPO, the balance sheet is well capitalized, with cash and cash equivalents of approximately INR 398 crores as of March 31, 2026, including unutilized IPO funds of about INR 195 crores. - Capital expenditure plans for FY '27 are estimated between INR 160 to 200 crores, partly funded by IPO proceeds. - The management prefers to monitor macroeconomic and business conditions, intending to revisit guidance or consider raising funds after Q1 FY '27 if required.

- Planned capex investment of approximately INR 160 to 200 crores for FY '27. - Investments spread across Payment Solutions and IoT business verticals and overall modernization. - Some of the capex to be funded from IPO proceeds. - Focus on deeper investments into technology and software resources as the business expands into IoT devices. - Capital allocation guided by recurring revenue potential, technology needs, scalability, and mandatory nature of products. - Expansion plans include scaling SIM card business (currently 30% utilization) and starting eSIM commercial production in H2 FY '27. - No plans yet to open international personalization bureaus, but developing international opportunities with partners. - Continued investment to support product innovation, scale-up, and market expansion expected.

- FY '27 guidance is currently withheld due to macroeconomic uncertainties; to be revisited end of Q1 FY '27. - IoT business grew 47% YoY in FY '26; expected to grow over 47% in FY '27, increasing its revenue share and margin contribution. - IoT solutions anticipated to scale up with SIM and eSIM initiatives starting H2 FY '27, potentially increasing IoT revenue proportion towards 20%. - Payment Solutions expected to stabilize with growth in premium products like metal cards and base payment cards. - Communication and Fulfilment segment aims at maintaining stable performance. - International revenue currently low (~INR 3 crores), but focus on partnerships and niche products internationally is increasing. - Capital expenditure planned around INR 160-200 crores for FY '27, focusing on Payment Solutions, IoT, and technology modernization for growth support. - New customer additions in all segments signal growth momentum across verticals.

- FY '27 guidance not provided yet due to macroeconomic uncertainties; to be revisited post Q1 FY '27. - Capex planned at INR 160-200 crores focusing on Payment Solutions, IoT, and modernization, partially funded by IPO proceeds. - IoT business grew 47% Y-o-Y in FY '26; expected to grow above 47% in FY ’27, increasing its revenue proportion and margin contribution. - SIM business is nascent with ~30% capacity utilization; eSIM commercialization expected from H2 FY '27, contributing to revenue growth. - Margins improved in FY '26 due to gross margin improvements, procurement efficiencies, finance cost reductions, and IPO interest income; near-term margin guidance deferred pending foreign exchange and material price developments. - Continued focus on recurring revenues, technology-led investments, and premiumization supports sustainable margin expansion. - International opportunities in progress but currently limited revenue visibility.