• Order execution timeline: The company expects to realize about 60% of its ₹700-odd crore order in FY27 and the balance in the following financial year, with operations and maintenance accounting for roughly 10% (₹70 crore) over 12 years.
• Capacity expansion targets: BESS manufacturing capacity is doubling from 5 GWh to 10 GWh by September funded through internal accruals, with management projecting 100% capacity utilization by FY28.
• Revenue mix shift: Growth toward the ₹3,200 crore revenue target will be led by the energy segment, which is projected to contribute 65% of total revenue in FY27, up from 35% in FY26.
• Margin and FX risks: While core operating margins are expected to remain steady, import dependency on battery cells alongside dollar appreciation could impact PAT margins by 1% to 2%.