• EBITDA margin sustainability: Operating EBITDA margins expanded to 90% driven by capacity doubling from FY25 levels of 1,100 MW, with management expecting long-term margins to hold steady at 90% to 91%.
• Capacity and revenue guidance: The company targets closing the year with an overall capacity of 4 GW, translating to a run-rate revenue of approximately ₹2,500 crore supported by expected quarter-on-quarter growth of 25% to 30%.
• SJVN project timeline: The 50 MW FDRE PPA with SJVN—comprising 80 MW of solar and 400 MWh of battery storage—has land and grid connectivity secured, targeting early commissioning between March and June 2028 ahead of the August 2028 PPA deadline.
• BESS portfolio expansion: Having already contracted 4.5 GWh with Envision (with 500 MWh operational), battery installations will ramp up between September and June, while talks are underway with OEMs like Sungrow, CATL, and Envision for the remaining 5.5 GWh targeted for March 2028.
• Geographic expansion strategy: The company has entered Karnataka with a dedicated local team and is developing sites there, with plans to expand further into Tamil Nadu and Andhra Pradesh beyond its core four states.