Operates a GPU cloud computing platform that rents AI infrastructure capacity to enterprises, AI startups, and international customers running large-scale model training and inference workloads. The platform is built on a three-layer stack — TIR, Jarvis Labs and an agentic framework — and is positioned as a 'sovereign AI' factory where customers can run open-source models inside their own data boundary instead of renting frontier-model APIs. As of Q1 FY27 the live fleet is around 5,100 GPUs, including 1,024 NVIDIA Blackwell B200 chips that went on revenue during the quarter, with another 1,024 B200s expected in roughly two months and B300 and Vera Rubin on the expansion roadmap. Q1 FY27 revenue was ₹1,568M, up 334% YoY and 64% QoQ, with an EBITDA margin of 75.2% as the new fleet ramped to full utilisation. Revenue mix in Q1 FY27 was India AI roughly 20–21%, international roughly 37% and the rest domestic; an international example is a $7.7M (~₹73 crore) six-month GPU cloud order from a US-based AI service provider disclosed in April 2026. Cost structure is dominated by depreciation at 68.9% of FY26 revenue, reflecting the GPU capex load (514.1% of FY26 revenue), which is funded in part by ~₹450 crore of debt outstanding. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. GPU cloud computing services, Sovereign AI platform (TIR + Jarvis Labs + agentic stack), International GPU services. Asset-heavy, capex-intensive GPU cloud and AI infrastructure provider with high depreciation and a swing to operating leverage when utilisation is full
| ₹ crore · consolidated |
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| Revenue |
| EBITDA (ex other income) |
| margin % |
| Owners' profit |
| EPS, as reported (₹) |
| ROE % · ROCE % |
| Debt / equity (x) |
| Cash from operations |
| Capex |
| ₹ crore | Q1 FY27 |
|---|---|
| Revenue | 157 |
| Profit before tax | 59 |
| Net profit | 44 |
| EPS (₹) | 2.14 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| L&T TECHNOLOGY SER. LTD. | 35,510 | 26.9 | 5.47 | 16.3 | 19.7 | 21.1 | 15.1 | 19.6 |
| TATA TECHNOLOGIES LIMITED | 31,087 | 55.8 | 7.92 | 33.8 | 13.9 | 14.3 | — | 18.3 |
| INVENTURUS KNOWLEDGE SO L | 29,665 | 38.0 | 10.59 | 27.0 | 25.8 | 27.7 | — | 33.6 |
| NETWEB TECH INDIA LTD | 28,723 | 109.9 | 39.71 | — | 28.5 | 37.5 | — | 15.7 |
| AFFLE 3I LIMITED | 22,105 | 46.2 | 6.05 | 30.4 | 12.5 | 15.2 | 39.3 | 25.8 |
| SAGILITY LIMITED | 21,150 | 21.3 | 2.19 | 12.0 | 9.6 | 11.6 | — | 22.3 |
| BLACK BOX LIMITED | 14,299 | 61.3 | 11.11 | 28.4 | 16.9 | 9.5 | 6.2 | 8.4 |
| E2E NETWORKS LIMITED ◆ | 12,632 | 287.1 | — | — | — | — | — | 82.5 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 6 Sept 2026 · Newspaper publication of 17th AGM notice and e-voting info | compliance | minimal | — | — |
| 5 Sept 2026 · E2E Networks dispatches 17th AGM notice and FY26 annual report link to shareholders | compliance | minimal | — | — |
| 5 Sept 2026 · BRSR filing for FY 2025-26 submitted as part of Annual Report | compliance | low | — | — |
| 5 Sept 2026 · E2E Networks 17th AGM notice on Sept 28; fundraise, director pay, L&T deals up for vote | board shareholder meetings | low | — | — |
| 1 Sept 2026 · Newspaper notice for 17th AGM and Annual Report email dispatch | compliance | minimal | — | — |
| 31 Aug 2026 · E2E Networks signs Rs 1,000 crore binding term sheet with Sovereign AI firm | compliance | medium | — | — |
| 31 Aug 2026 · E2E Networks bags Rs 1,000 crore AI cloud GPU contract from Sovereign AI firm | business updates | high | — | — |
| 31 Aug 2026 · E2E Networks grants 5,45,000 stock options to employees under ESOP 2021 | capital market events | low | — | — |
| 31 Aug 2026 · E2E Networks board approves up to Rs 1,500 cr fund raise; AGM on Sep 28 | board shareholder meetings | low | — | — |
| 18 Aug 2026 · E2E Networks denies factual accuracy of news article by The Ken | regulatory legal | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 287.1 | 18.9 | 77 of 78 | 1% |
| EBITDA margin | 82.5 | 13.0 | 4 of 69 | 96% |
| Market cap | 12632 | 309 | 8 of 87 | 92% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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