E2E Networks Limited has informed the Exchange about Transcript
E2E · price
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Awaiting price reaction for this filing.
E2E Networks reported FY25 revenue of INR164 crore (+74% YoY) with EBITDA of INR96.7 crore (+102% YoY) and 59% EBITDA margin. Q4 FY25 revenue was INR33.5 crore (+14% YoY) but EBITDA margin dipped to 40% as management ran extensive paid trials with large customers on limited capacity, prioritizing future growth over short-term revenue. The company raised about INR1,500 crore during the year and now operates ~3,700 GPUs (largest Indian GPU cloud), with 2,048 additional H200 GPUs (worth ~INR626 crore in capex) going live in Q1 FY26. Management is targeting MRR growth from ~INR11 crore to INR35-40 crore by end of FY26, with plans to scale to 10,000+ GPUs over 2-3 years, requiring INR2,500-3,000 crore of incremental capex funded via debt and cash flows.
Aggressive 3x MRR growth target backed by significant capacity expansion and IndiaAI Mission opportunity (INR10,500 crore addressable demand over 3 years, targeting 20-25% share). Short-term margin compression to 40% is likely temporary with management guiding return to 60% steady-state EBITDA. Stock may react positively to growth visibility but investors should watch execution on capacity ramp, large-customer conversion, and actual IndiaAI Mission order inflows.