• Bangkok revenue target: The Bangkok unit currently generates ₹130 to ₹140 crore in revenue and is targeted to reach ₹160 to ₹170 crore by FY27, with no immediate expansion planned until Indian unit capacity is utilized.
• Power sector growth: Piping solution orders are expected to be driven primarily by the power sector, supported by export demand and the Indian government's plans to install at least 100 GW of thermal boilers.
• Nuclear joint venture: The company has received a trial order from NPCIL and aims to finalize a joint venture with a foreign collaborator by FY27 to enter nuclear piping, which will entail substantial capex shared between partners.
• Debt reduction timeline: Current net debt stands at approximately ₹450 crore following a preferential issue, with the company aiming to fully pay off its term loans by 2029 without taking on new debt.
• Geographic revenue mix: Management expects the export share to stabilize at approximately 50% over the coming years, maintaining that long-term potential in export markets remains higher than domestic demand.