The global economy demonstrated resilience during FY2026 despite persistent geopolitical tensions, evolving trade dynamics, and macroeconomic uncertainties. According to the International Monetary Fund (IMF), global GDP is projected to grow by approximately 3.0% in 2026 (IMF, World Economic Outlook Update, July 2026), supported by moderating inflation and stable economic activity. Against this backdrop, energy security, electrification, digital infrastructure, and decarbonisation have emerged as long-term investment priorities worldwide. The International Energy Agency (IEA) estimates that global clean energy investment will remain at record levels of around USD 2.2 trillion in 2026, significantly outpacing investment in conventional energy. Simultaneously, the rapid expansion of artificial intelligence, data centres, electric mobility, and industrial electrification is driving unprecedented demand for reliable power infrastructure, grid modernisation, battery energy storage systems, and green hydrogen technologies.
India continues to be one of the fastest-growing major economies, with the IMF projecting GDP growth of 6.4% in FY2026-27 (IMF, World Economic Outlook Update, July 2026), supported by sustained infrastructure spending, manufacturing growth, and a strong policy focus on the energy transition. The Reserve Bank of India, in its June 2026 policy review, projected FY27 growth marginally higher at 6.6% both estimates point to the same structural trend. These structural trends present significant long-term opportunities for energy infrastructure companies operating in India. With a diversified presence across power transmission, substation solutions, renewable energy integration, battery energy storage, and green hydrogen infrastructure, the Company is well positioned to benefit from the accelerating transformation of the global energy ecosystem, supported by its technology capabilities, execution track record and diversified business portfolio.
World Economic Outlook July 2026 – Growth Projections by Region (REAL GDP GROWTH, PERCENT CHANGE)
| Region | 2025 | 2026 | 2027 |
| WORLD | 3.5 | 3.0 | 3.4 |
| EMERGING AND DEVELOPING ASIA | 5.5 | 5.0 | 4.8 |
| LATIN AMERICA AND THE CARIBBEAN | 2.4 | 2.4 | 2.7 |
| CENTRAL ASIA | 3.6 | 0.7 | 6.5 |
| SUB-SAHARAN AFRICA | 4.5 | 4.3 | 4.5 |
Source: IMF, World Economic Outlook Update, July 2026.
Note: 2025 estimates, 2026 projections and 2027 projections.
Indian Economy
India remained among the fastest-growing major economies during FY26, with GDP expanding by 7.7%. The Reserve Bank of India has projected growth of 6.6% for FY27, supported by resilient domestic consumption, sustained infrastructure spending and continued policy focus on manufacturing and energy security.
The structural relevance of this growth for energy infrastructure companies lies in the composition of demand. Industrial expansion, urbanisation, data centre proliferation, electrified mobility and rising cooling loads are driving electricity consumption at a pace that requires corresponding investment in generation, transmission and storage.
During FY26, Indias peak power demand reached a record 271 GW. The Central Electricity Authoritys transmission plan for integrating 900 GW of non-fossil fuel capacity by FY36 envisages a network of 6,27,000 circuit kilometres, supported by an estimated investment of 7.93 lakh crore in transmission infrastructure alone.
Indias energy transition is therefore advancing on two simultaneous fronts: expanding renewable generation capacity and strengthening the grid infrastructure required to evacuate, balance and deliver that power reliably. This convergence creates a sustained addressable opportunity for companies with capabilities across both power transmission and clean energy technologies.
Industry Overview
Advait is broadly organised into two business segments: Power Transmission Solutions (PTS), the Companys established transmission business, and New & Renewable Energy (NRE), its clean energy growth platform. Each is described below.
Power Transmission Solutions (PTS)
Indias power transmission sector entered a sustained investment cycle during FY26, driven by three converging requirements: evacuating rapidly expanding renewable generation capacity, modernising ageing grid infrastructure and strengthening network reliability to support rising electricity demand.
The Central Electricity Authoritys long-term transmission plan envisages an investment of 7.93 lakh crore to build a network capable of integrating 900 GW of non-fossil fuel capacity by FY36. Green Energy Corridor expansions, tariff-based competitive bidding for interstate transmission projects, and increased private-sector participation have broadened the execution opportunity base across the value chain. Within this broader programme, specific product categories are scaling rapidly.
outpacing investment in conventional energy. Simultaneously, the rapid expansion of artificial intelligence, data centres, electric mobility, and industrial electrification is driving unprecedented demand for reliable power infrastructure, grid modernisation, battery energy storage systems, and green hydrogen technologies.
(Image: Transmission tower at sunset)
| Segment | Demand Growth Drivers (From FY27 Onwards) |
| OPGW (Optical Ground Wire) | Expansion of transmission networks, fiberisation of the power grid, replacement of ageing OPGW, and Green Energy Corridor projects. |
| HTLS (High Temperature Low Sag) Re-conductoring | Grid capacity augmentation without new ROW, renewable energy integration, and replacement of conventional conductors through of existing transmission lines. |
| ERS (Emergency Restoration System) | Massive transmission network expansion, increasing emphasis on grid resilience, emergency restoration following natural calamities, and strengthening utility preparedness for disaster recovery. |
| Stringing Tools | Rise in domestic and overseas EPC transmission line projects, expansion of 765 kV and HVDC corridors, and accelerated development of renewable energy transmission corridors. |
The sector remains capital-intensive and execution dependent. Project timelines are exposed to right-of-way approvals, land acquisition, commodity price movements and skilled workforce availability. These characteristics favour companies with established credentials, manufacturing depth and long-standing utility relationships.
Indias transmission modernisation cycle is structural, multi-year and directly aligned with the capabilities Advait has built over fifteen years in this sector.
Indias energy transition continued to accelerate during FY2026, reinforcing its position as one of the worlds fastest-growing renewable energy markets. The country added approximately 30.2 GW of renewable energy capacity in FY2026, taking the total installed renewable energy capacity to over 235 GW. Renewable energy sources now account for more than 50% of Indias total installed electricity capacity, achieving a key milestone well ahead of its National Electricity Plan target. Supported by enabling policy measures such as the 500 GW non-fossil fuel capacity target by 2030, the National Green Hydrogen Mission, Production Linked Incentive (PLI) for solar modules, PLI for battery storage, and accelerated transmission infrastructure development, Indias renewable energy sector is poised for its next phase of growth.
The investment landscape is now expanding beyond renewable power generation into emerging opportunities such as Battery Energy Storage Systems (BESS), Green Hydrogen, Fuel Cells, Carbon Capture and Storage (CCS), and sustainable fuels. As these technologies mature, they are expected to become critical for ensuring energy security and reliable power delivery. With its demonstrated strengths in renewable integration, battery storage, green hydrogen, electrolysers, fuel cells, and grid infrastructure, India is strategically positioned to capture a significant share of these long-term opportunities in Indias evolving clean energy value chain.
Emerging Opportunities Across the Clean Energy Ecosystem:
| Business Segment | Market Opportunity | Key Growth Drivers |
| Solar EPC & Balance of System | Utility-scale and rooftop solar | 500 GW non-fossil target by 2030; PM Surya Ghar; Renewable Purchase Obligations (RPO); domestic manufacturing incentives |
| Battery Energy Storage Systems (BESS) | Grid-scale and commercial energy storage | Rapid renewable integration; Round-the-Clock (RTC) power; CERC regulations; state BESS targets; peak demand management |
| Green Hydrogen & Electrolysers | Industrial decarbonisation and export opportunities | National Green Hydrogen Mission (5 MMTPA by 2030); refinery flexibility; steel sector; PLI incentives |
| Fuel Cell Technologies | Mobile and stationary applications | Hydrogen economy development; backup power applications; data centres |
| Power Transmission & Grid Modernisation | Expansion of transmission infrastructure | Renewable evacuation; Green Energy Corridors; smart substations; digital grid investments |
| Carbon Capture & Storage (CCS) | Hard-to-abate sectors | Net-zero targets by 2070; CCUS policy framework; enhanced oil recovery |
Key Sector Highlights:
| Parameter | FY2026 Status |
| Renewable Energy Capacity Added |
30.2 GW |
| Total Installed Renewable Capacity | 235+ GW |
| Share of Non-Fossil Installed Capacity |
50% |
| National Renewable Energy Target | 500 GW by 2030 |
| Green Hydrogen Production Target | 5 Million Metric Tonnes per annum (MMTPA) by 2030 |
| India Energy Investment (2026 Estimate) |
USD 170 Billion |
(Text below charts on the right)
Indias clean energy transition is no longer driven by renewable power generation; it is increasingly centred on the development of new energy technologies, industrial decarbonisation, and industrial electrification. The structural transformation is creating significant long-term opportunities across manufacturing, infrastructure, engineering, export, technology partnerships, engineering capabilities, and a diversified business portfolio. Adani Renewal will be positioned to leverage this transformative opportunity while creating sustainable value for its shareholders.
(Text below the right-hand bar chart)
Renewable Energy Progress
(The right side contains two bar charts visualizing data from FY22 to FY26. Due to image quality, exact numbers on the Y-axis are not fully legible, but the general trend shows significant growth in both installed capacity and annual additions.)
Chart 1: Installed Renewable Capacity (GW)
Chart 2: Annual Capacity Addition (GW)
Company Overview
(Image: Aerial view of manufacturing facility)
Advait Energy Transitions Limited is an integrated energy infrastructure company operating across power transmission and clean energy technologies. Formerly Advait Infratech, the Company rebranded in FY26 to reflect a strategic evolution from a specialised transmission solutions provider to a diversified energy transition platform. The Company is listed on both the National Stock Exchange (NSE, Main Board, migrated on 20 January 2026) and the Bombay Stock Exchange (BSE).
Advait operates through two business engines. Power Transmission Solutions, the Companys established foundation, spans manufacturing, EPC execution and specialised services across Indias grid infrastructure. New and Renewable Energy, the growth platform, encompasses solar EPC, battery energy storage, electrolyser manufacturing, fuel cell technologies and carbon solutions.
The Company executes this dual mandate through the listed parent, AETL, and its dedicated subsidiaries: AGPL (Solar EPC and Green hydrogen), A&G (Electrolyser Manufacturing), AURA (New & Renewable Assets Developer), ACARA (Carbon Advisory & Trading), ABEPL (BESS manufacturing) and ATPPL (Fuel Cell Manufacturing). Each subsidiary operates with its own leadership, capital structure and P&L accountability.
Advaits manufacturing base comprises its existing facilities in Ahmedabad and an integrated Gigafactory under development at Gangad on the Ahmedabad-Dholera Expressway. The facility is being developed to manufacture Battery Energy Storage Systems (BESS), electrolysers, fuel cells, transmission stringing tools, Emergency Restoration Systems (ERS) and high-capacity conductors at scale. Through strategic technology transfer and manufacturing partnerships for Electrolyser Technology with Jiangsu Guofuhe and PEM Fuel Cell Technology developed (in collaboration with AVL), the Company is building indigenous manufacturing capabilities to support Indias energy transition.
Strategic Position Assessment
Advaits strategic position is shaped by two structural characteristics that distinguish it within Indias energy infrastructure landscape.
First, the Company operates at the intersection of transmission and transition. Most participants in Indias energy infrastructure ecosystem specialise in one domain. Advaits portfolio spans both established grid infrastructure and emerging clean energy technologies, enabling participation across a broader addressable market estimated at over 25-30 lakh crore of cumulative investment through 2030.
Second, the Company has built qualification-led moats that are difficult to replicate within compressed timelines. A fifteen-year track record across 25,000 kilometres of live-line installations, approximately 50% market share in stringing tools, NABL-accredited testing capability and product approvals across more than ten state utility boards represent credentials that a new entrant cannot acquire quickly.acquire quickly. In transmission, qualification is the barrier. Advait has earned it. Published industry commentary separately cites Advait with an approximately 35% share of the Emergency Restoration Systems (ERS) market, a distinct product category from stringing tools [source to be confirmed before print].
This positioning allows Advait to participate in Indias current grid modernisation cycle through PTS while simultaneously building manufacturing and asset ownership capacity in NRE for the next phase of growth.
Operational Performance
Advait Energy Transitions Limited ("Advait") has evolved into an integrated Energy Transition Infrastructure Company, combining engineering excellence, advanced manufacturing, and globally proven technologies to serve the rapidly expanding power and clean energy sectors. During FY2026, the Company completed its strategic transformation from Advait Infratech Limited to Advait Energy Transitions Limited, reflecting its evolution from a specialised power transmission solutions provider into a diversified energy infrastructure platform. The remaining reflects the Companys broadened scope beyond transmission products into an integrated platform spanning solar EPC, battery storage, green hydrogen and carbon solutions, and better represents the business the Company has become. Listed on both the NSE Main Board and BSE, the Company today operates at the intersection of Indias largest infrastructure investment cycle and the global energy transition.
Advaits journey has been one of continuous value creation. Beginning with specialised products and engineering services for the power transmission sector, the Company has systematically expanded its portfolio across the emerging energy ecosystem. Today, Advait addresses opportunities spanning Power Transmission, Grid Modernisation, Renewable Energy Integration, Battery Energy Storage Systems (BESS), Green Hydrogen, Electrolyzers, Fuel Cells and Carbon Markets. This strategic diversification enables the Company to participate across the entire energy value chain—from electricity transmission and grid reliability to clean energy generation, storage and industrial decarbonisation.
Indias Energy Transition – A Multi-Trillion-Rupee Opportunity
India is entering one of the largest infrastructure investment cycles in its history. The countrys commitment to achieve 500 GW of non-fossil fuel capacity by 2030, strengthen transmission infrastructure, establish a green hydrogen ecosystem and modernise the electricity grid is expected to create investment opportunities exceeding ?25-30 lakh crore over the remainder of this decade.
| Business Vertical | >Estimated Market Opportunity by 2030 | Growth Drivers |
| Power Transmission Services, Liveline, Discom, Underground Cabling, Stringing Tools | ?9-10 lakh crore | Green Energy Corridors, transmission expansion, smart substations, grid digitalisation |
| Solar EPC Projects | ?10-12 lakh crore | 500 GW renewable target, utility-scale solar, C&I renewable adoption |
| Battery Energy Storage Systems (BESS) EPC Projects & Manufacturing | ?3-5 lakh crore | National Energy Storage Mission, Round-the-Clock (RTC) power, renewable integration |
| Green Hydrogen EPC & Manufacturing Electrolyser/GH2 Equipment | ?2-3 lakh crore | National Green Hydrogen Mission, industrial decarbonisation, export opportunities |
| Fuel Cell Technologies | ?50,000-75,000 crore | Clean mobility, distributed power, hydrogen ecosystem |
| Carbon Markets & Sustainability Solutions | ?25,000-40,000 crore | Carbon Credit Trading Scheme (CCTS), voluntary carbon markets, corporate decarbonisation |
Total Addressable Opportunity: More than ?25-30 lakh crore across Advaits core business segments by 2030, with additional opportunities emerging through future technologies and international expansion. This figure is derived bottom-up from the segment-level market-opportunity estimates set out above and is used consistently as the Companys addressable-opportunity figure throughout this section and the Outlook.
Building Indias Energy Transition Platform
Recognising this opportunity, Advait is transforming from a project execution company into an integrated technology-enabled manufacturing and engineering platform.
The Companys strategy is built around four key pillars:
1) Engineering Excellence
Advait has developed strong engineering capabilities across power transmission, substations, renewable EPC, energy storage integration and hydrogen infrastructure, supported by years of project execution experience with utilities, transmission companies and industrial customers.
2) Advanced Manufacturing Multi Integrated Facility
The Company is significantly expanding its manufacturing footprint through the development of an integrated Energy Transition Gigafactory in Gangad. The facility will manufacture:
This integrated manufacturing ecosystem is expected to strengthen localisation, improve operating efficiencies and enhance scalability.
3) Global Technology Partnerships
Advait has established strategic technology transfer partnerships with globally recognised technology leaders, including Jiangsu Guofuhee for AEM Electrolyser technology, and AVL & TECO 2030 for PEM Fuel Cell technology. These collaborations combine proven global innovation with domestic manufacturing capabilities, enabling the Company to accelerate commercialisation, strengthen localisation, and support Indias energy transition.
4) Diversified Energy Platform
The Companys business model combines stable revenues from Power Transmission with high-growth opportunities in emerging energy technologies, creating a balanced portfolio capable of delivering sustainable long-term growth.
Strategic Positioning for Long-Term Growth
Advait is uniquely positioned at the convergence of several long-term structural megatrends:
Unlike companies focused on a single product or technology, Advait is building a diversified energy transition ecosystem supported by manufacturing capabilities, engineering expertise and globally proven technologies. This integrated platform enables the Company to participate in multiple high-growth markets while mitigating concentration risk.
Strategic Outlook
The global transition towards cleaner, smarter and more resilient energy systems is fundamentally reshaping infrastructure investment. As governments and industries accelerate investments in transmission networks, renewable integration, energy storage and hydrogen technologies, Advait is strategically positioned to capture these opportunities. With an expanding manufacturing base, strengthened engineering capabilities, exclusive global technology partnerships and a diversified business portfolio, the Company is building a future-ready energy transition platform designed to deliver sustainable growth and long-term value creation for its shareholders.
Investment Perspective: Advait has broadened from a power transmission specialist into an energy transition infrastructure company, with manufacturing capacity now under development across BESS, electrolysers and fuel cells alongside its established transmission business. This diversification is intended to reduce single-segment concentration while positioning the Company across several of Indias highest-growth energy infrastructure segments.
Financial Performance
(Image: Glowing bar chart with upward arrow)
Advait Energy Transitions Limited delivered a strong consolidated financial performance during FY26, reflecting the combined contribution of its Power Transmission Solutions and New and Renewable Energy businesses.
Revenue from operations grew by 80% to 714.52 crore from 397.66 crore in FY25. Standalone revenue increased by 52% to 448 crore, with the balance contributed by subsidiary-level execution, principally solar EPC through AGPL. The Company has maintained a consolidated revenue CAGR of approximately 90% over the five years from FY21 to FY26.
EBITDA grew by 64% to 83.78 crore. Consolidated EBITDA margin stood at 11.73% reflecting the evolving business mix as lower-margin EPC revenue from the NRE segment scaled alongside the higher-margin PTS business. On a standalone basis, EBITDA margin remained stable at 15.78% compared to 15.85% in FY25, confirming the core transmission businesss profitability resilience amid rapid growth.
Profit After Tax increased by 75% to 58.08 crore. PAT margin stood at 7.71% on a consolidated basis.
The order book reached an all-time high of 1,304 crore, representing 159% year-on-year growth from 503.5 crore in FY25. PTS contributed 64% and NRE contributed 36% reflecting the increasing commercial traction of the Companys emerging energy transition verticals. The active tender pipeline stood at approximately 2,000 crore at year-end.
Advait Energy Transitions Limited delivered a record-breaking consolidated financial performance for the Financial Year 2025-26 (FY26). The results reflect powerful dual-engine growth across our core Power Transmission Solutions (PTS) and rapidly scaling New and Renewable Energy (NRE) businesses.
Below is a summary of the key financial and strategic milestones achieved during the fiscal year.
Financial Highlights (Consolidated)
Segmental Performance & Subsidiary Execution
Order Book and Forward Outlook
Our FY26 results underscore Advaits ability to scale rapidly while safeguarding underlying margins. While the high-growth, solar EPC revenue from the NRE segment carries lower relative margins, our high-margin core PTS business provides a highly reliable bedrock of profitability. With a diversified order book and a massive tender pipeline, we are well-positioned to drive long-term value for our shareholders as a premier player in the global energy transition.
Balance Sheet and Capital Management
Strategic Leverage Management: The debt-to-equity ratio increased from 0.23 in FY25 to 0.46 in FY26. This deliberate, managed increase reflects the necessary capital deployment to fund our strategic growth vectors:
Business Model Transition: This evolution marks a planned structural shift from an asset-light transmission model to a high-yield manufacturing and asset-ownership platform.
Credit Rating Upgrade: CRISIL upgraded the Companys rating from CRISIL BBB+ to CRISIL A-/Stable. This upgrade reflects our expanding scale, long-term earnings visibility, and strict financial discipline despite the temporary rise in leverage.
Net Worth Expansion: Consolidated net worth increased to 278.12 Cr. during FY26 as equity accretion kept pace with the planned rise in leverage.
Capital Efficiency: High-yielding capital efficiency was sustained, with Return on Capital Employed (ROCE) at 23% and Return on Equity (ROE) at 17.7%, remaining well-benchmarked against FY25 levels.
The Board recommended a maiden dividend of ?2 per share, signalling confidence in the sustainability of earnings and the Companys transition to a dividend-paying stage.
| Particulars | FY26 | FY25 | % Change |
| Inventory Turnover | 11.97 | 10.55 | 13.46 |
| Current Ratio | 1.3 | 2.33 | -44.26 |
| Debt-Equity Ratio | 0.46 | 0.23 | 100.99 |
| Debtors Turnover | 4.28 | 5 | -14.29 |
| Operating Profit Margin (%) | 21.01 | 27.72 | -24.21% |
| Return on Capital Employed (%) | 23 | 20.9 | 10.24% |
| Interest Coverage Ratio | 8.13 | 9.4 | -13.51% |
Note: FY26 ratios to be updated upon finalisation of audited financial statements. Where the change exceeds 25% explanatory commentary will be provided in accordance with Schedule V requirements.
Advaits transition from a specialised transmission company to a diversified energy transition platform has required a corresponding evolution in its workforce. During FY26, the Company expanded its talent base across engineering, project execution, manufacturing, clean energy technologies, commercial functions and subsidiary-level leadership.
Building execution capability across solar EPC, electrolyser manufacturing, BESS, carbon advisory and asset ownership required the recruitment of professionals with domain expertise that did not previously exist within the organisation. This capability acquisition programme is ongoing and will remain a strategic priority as the Dholera facility approaches commissioning.
The Company invested in functional training, safety systems, cross-disciplinary exposure and leadership development during the year. Employee well-being, workplace safety and equal opportunity remain integral to Advaits people practices.
As of March 31, 2026, the Company employed 235 permanent employees across its parent and subsidiary operations.
(Image: Group photo of Advait Greenergy Private Limited team)
Information Technology
As Advait scales operations across multiple geographies and concurrent project sites, technology infrastructure plays a growing role in execution governance, financial consolidation and management visibility.
During FY26, the Company strengthened its operational reporting through integrated dashboards, real-time project monitoring tools and data-driven review mechanisms. These systems support procurement tracking, inventory management, contract administration, compliance monitoring and consolidated financial reporting across the parent and subsidiary structure.
The Company will assess and strengthen its enterprise resource planning (ERP) and digital infrastructure in line with the expansion of its subsidiary structure and manufacturing operations. A phased technology roadmap is targeted for finalisation during FY27, with a focus on enabling integrated operations, evidence-based and data-driven decision-making, process automation, and scalable business growth.
Internal Control Systems & Their Adequacy
Advait Energy Transitions Limited maintains an internal control framework designed to safeguard assets, ensure the accuracy of financial reporting, support regulatory compliance and promote disciplined decision-making across business functions.
The framework encompasses defined policies, standard operating procedures, delegated authority matrices and approval mechanisms across project execution, procurement, finance, contract management, inventory and compliance. As the Companys operating structure has expanded to encompass multiple subsidiaries with independent P&L accountability, the control architecture has been extended to ensure consistent governance standards across the group.
Internal audits are conducted periodically using a risk-based approach. Statutory auditors independently evaluate the adequacy and effectiveness of financial reporting controls. The Audit Committee of the Board reviews significant audit observations, management responses and corrective action plans to ensure timely implementation and continuous process improvement.
The Company remains committed to strengthening its internal control practices in line with the growing scale, complexity and multi-entity nature of its operations.
Risk Management
Operating across an evolving energy landscape presents both significant opportunities and a dynamic risk environment. Advait Energy Transitions Limited has established an enterprise-wide risk management framework that enables the identification, assessment, mitigation and monitoring of strategic, operational, financial and regulatory risks.
Outlook
Advait enters FY27 with a consolidated order book of 1,304 crore and a tender pipeline of approximately 2,000 crore. Management has guided to a year-end order book of 1,600-1,650 crore for FY27, against this pipeline – this is an order book target, not a revenue target. The Company expects both business engines to contribute to this growth, with PTS sustaining execution momentum from its current order position and NRE scaling through continued solar EPC delivery and early commercialisation of manufactured products.
The most significant operational milestone ahead is the commissioning of Phase 1 of the Dholera Gigafactory in Q4 FY27. This facility is expected to bring BESS manufacturing (2.5 GWh capacity), expanded electrolyser production (100 MW), and fuel cell assembly under a single integrated platform. Full commercialisation is targeted by mid-2028. The successful commissioning and ramp-up of Dholera will determine the pace at which Advaits NRE business transitions from project execution to manufacturing-led revenue.
AURAs independent power production programme is expected to progress from roadmap to initial asset acquisition during FY27. The 1 GW near-term target and 5 GW strategic pathway represent a long-term shift in the Companys revenue model towards annuity-style income from owned energy assets.
The Company will continue to invest in capability building across its subsidiary structure, deepen its international business development pipeline and maintain the financial discipline required to manage a simultaneous scaling programme across transmission, manufacturing and asset ownership. The structural opportunity presented by Indias 25-30 lakh crore energy investment cycle through 2030 remains the long-term backdrop against which Advaits strategy is calibrated.
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