Ceinsys Tech Ltd Management Discussions

ECONOMIC OVERVIEW

Indian Economy

The Indian economy demonstrated resilience during

FY2025 26 despite a challenging global environment characterised by geopolitical tensions, uncertainty in international trade, volatility in energy markets and uneven growth across major economies.

According to provisional estimates released by the Ministry of Statistics and Programme Implementation, Indias real Gross Domestic Product grew by 7.7% in FY2025 26, with fourth-quarter real GDP growth estimated at 7.8%. This represents a stronger outcome than the 7.4% growth estimated earlier in the Economic Survey and reinforces Indias position among the faster-growing major economies.

Domestic demand remained an important foundation for economic activity, supported by consumption, investment and continued government expenditure on infrastructure.

At the same time, structural trends including urbanisation, formalisation, manufacturing investment and increasing adoption of digital technologies continued to broaden the economys growth base.

Key Factors Shaping Indias Economic Outlook

• Infrastructure-led Growth: Sustained public investment in roads, railways, urban development, water systems, power networks and logistics remains an important economic growth driver. Increasingly, infrastructure expenditure is moving beyond physical asset creation towards integrated planning, digital monitoring and lifecycle asset management, creating a broader ecosystem around engineering and technology-enabled infrastructure delivery.

• Domestic Consumption and Investment: Private consumption continued to provide a significant foundation for growth. The Economic Survey estimated private final consumption expenditure at approximately

61.5% of GDP, while gross fixed capital formation was estimated to have grown by approximately 7.8% during FY2025 26. Indias large domestic market, rising urbanisation and improving connectivity continue to support demand across consumer, services and infrastructure-related sectors.

• Manufacturing and Formalisation: Continued investment in manufacturing capacity, supply-chain development and industrial infrastructure is supporting greater integration of the Indian economy with domestic and international value chains.

Formalisation, digital tax systems and technology-led business processes are also contributing to greater transparency and productivity across sectors.

• Digital Transformation: Indias digital economy continues to expand through digital public infrastructure, cloud platforms, artificial intelligence, digital payments and data-driven governance.

Technologies such as Geographic Information Systems (GIS), Internet of Things (IoT), artificial intelligence and advanced analytics are increasingly being incorporated into physical infrastructure, manufacturing, transportation and utility operations rather than remaining confined to technology-led industries.

• Macroeconomic Resilience: India continues to possess important buffers against external volatility, including substantial foreign-exchange reserves, relatively moderate inflation, predominantly rupee-denominated public debt, diversified trade relationships and a broadly resilient financial system. These factors provide some protection against international commodity, financial and geopolitical shocks.

• FY2026 27 Growth Outlook: The forward outlook remains positive, although credible forecasts show a wider range than in the preceding year. The Economic

Survey projected real GDP growth of approximately

6.8 7.2% for FY2026 27, while the World Banks April 2026 India Development Update projected approximately 6.6%, reflecting more recent energy-price and supply-side risks. India therefore enters FY2026 27 from a strong base following 7.7% growth in FY2025 26, although global trade, commodity and geopolitical conditions remain important variables.

Global Economy

The global economy remained resilient during FY2025 26 but continued to operate within an uncertain environment shaped by geopolitical conflicts, trade-policy changes, energy-price volatility and divergent monetary-policy conditions.

Forecasts from leading multilateral institutions illustrate this uncertainty. The International Monetary Funds July 2026 outlook projected global growth of approximately 3.0% in 2026 and 3.4% in 2027, while the World Banks June 2026 Global Economic Prospects projected materially lower growth of approximately 2.5% in 2026 and 2.8% in 2027.

Rather than indicating a uniform global recovery, these differences reflect significant uncertainty around trade, energy markets, geopolitical developments and financial conditions.

Key Factors Shaping the Global Economic Outlook

1. Geopolitical and Trade Uncertainty: Ongoing geopolitical conflicts, trade restrictions and shifts in international economic relationships continue to affect supply chains, investment decisions and commodity markets. Energy security has also re-emerged as an important consideration for governments and businesses.

2. Monetary and Financial Conditions: Major central banks continue to balance inflation management with the need to support economic activity. Differences in monetary-policy trajectories can affect capital flows, borrowing costs, currency movements and investment sentiment, particularly in emerging economies.

3. AI and Technology Investment: Artificial intelligence has emerged as one of the most important global investment themes. Demand for semiconductors, high-performance computing, data centres, cloud infrastructure and digital platforms is increasing alongside broader adoption of AI in engineering, manufacturing, logistics and professional services.

4. Energy Transition and Energy Security: Investment in renewable energy, storage, transmission infrastructure, electric mobility and industrial decarbonisation continues to increase. At the same time, geopolitical developments have reinforced the importance of reliability and security of energy supply, increasing the need for resilient and flexible energy systems.

5. Infrastructure Modernisation: Physical infrastructure is becoming increasingly integrated with digital systems. Transportation networks, utilities, industrial assets and cities are adopting sensors, GIS, automation, digital engineering platforms and analytics to improve planning, execution and operational efficiency.

6. Emerging-market Conditions: Emerging markets continue to provide important sources of global growth but remain exposed to financing costs, currency volatility and energy-price movements. Countries with large domestic markets, diversified economic structures and substantial infrastructure programmes may be comparatively better positioned to absorb external shocks.

Overall, the global environment entering FY2026 27 may be characterised as resilient but uncertain, with technology investment, infrastructure modernisation and energy transition providing structural growth drivers while trade disputes, geopolitical instability and financing conditions remain significant risks.

GOVERNMENT POLICY, INFRASTRUCTURE AND

PUBLIC CAPITAL EXPENDITURE

Indias infrastructure investment cycle remains an important driver of economic activity across construction, engineering, transportation, utilities, geospatial technologies and digital project management. The scale of public investment is increasingly being complemented by greater emphasis on integrated planning, technology-enabled monitoring and lifecycle asset management.

Key Infrastructure and Policy Developments

• Union Government Capital Expenditure: The Union Budget for FY2026 27 provides for Central Government capital expenditure of approximately Rs12.22 lakh crore. Including grants to states for creation of capital assets, effective capital expenditure is budgeted at approximately Rs17.15 lakh crore, equivalent to around 4.4% of GDP. This provides continued support to large-scale infrastructure investment across sectors.

• Transportation Infrastructure: Public expenditure continues across railways, highways, metro systems, ports and multimodal logistics. Government information associated with the FY2026 27 Budget indicates capital expenditure of approximately Rs2.93 lakh crore for Indian Railways, alongside investments in other forms of transport infrastructure. Such programmes create requirements not only for construction but also for engineering design, corridor planning, surveying and mapping, construction monitoring and long-term asset management.

• PM GatiShakti: The PM GatiShakti National Master Plan has emerged as an important GIS-based architecture for coordinated infrastructure planning. Government reporting during 2026 indicated integration across 58 ministries and departments and more than 3,200 data layers. By February 2026, the Network Planning Group had evaluated 352 projects with an aggregate value of approximately Rs16.10 lakh crore.

• National Geospatial Mission: Announced in the

Union Budget 2025 26 with an initial allocation of Rs100 crore, the National Geospatial Mission is intended to strengthen Indias foundational geospatial infrastructure and data ecosystem. Leveraging the

PM GatiShakti framework, the Mission is envisaged to support the modernisation of land records, urban planning and the design of infrastructure projects. Its proposed components include modernisation of the National Geodetic Reference Frame, strengthening of geospatial data and mapping infrastructure, establishment of Geo-ICT infrastructure, capacity building and geospatial technology development.

The Mission also envisages development of higher-resolution national elevation and imagery datasets, strengthening the foundation for more accurate infrastructure planning, land administration and data-driven governance.

• Digitalisation of Infrastructure Planning: Increasing use of spatial data in infrastructure planning illustrates a transition from fragmented project information towards integrated digital decision-making. Asset owners increasingly require information relating to land, utilities, transport networks, environmental conditions, existing infrastructure and project dependencies to be considered together. This is increasing the relevance of enterprise GIS, spatial data infrastructure, remote sensing, LiDAR, Building Information Modelling (BIM),

Common Data Environments (CDE), digital project management and analytical dashboards.

• AI and Digital Public Infrastructure: Government initiatives relating to artificial intelligence, geospatial infrastructure and digital public platforms further support technology adoption. Indias AI-compute ecosystem, geospatial-policy reforms and increasing adoption of digital platforms across public programmes are enabling data, engineering and location intelligence to become more closely integrated across infrastructure lifecycles.

The significance of public capital expenditure is therefore increasingly determined not only by the quantity of physical infrastructure being created, but also by the digital intensity of infrastructure investment. As asset owners seek greater visibility over cost, schedule, quality, performance and service levels, technology-enabled engineering and infrastructure intelligence are expected to become more deeply embedded in project delivery.

INDUSTRY STRUCTURE AND DEVELOPMENTS

A. GEOSPATIAL

Industry Overview

Geospatial technology is undergoing a fundamental change in its role within infrastructure and enterprise decision-making. Geographic Information Systems were historically viewed primarily as specialist mapping systems.

Increasingly, location intelligence is becoming part of the underlying digital infrastructure used to plan investments, manage networks, monitor assets and analyse change.

The underlying geospatial data ecosystem is expanding rapidly. Earth Observation satellites, UAVs, aerial sensors, mobile mapping systems, LiDAR and terrestrial scanners are creating increasingly frequent and detailed representations of the physical world. Improved computing and cloud infrastructure are simultaneously enabling these datasets to be processed at much larger scale.

As a result, value is progressively shifting from data collection towards interpretation, intelligence and decision support.

Policy and Regulatory Environment

Indias policy environment continues to support wider adoption of geospatial technologies.

The National Geospatial Policy, 2022 seeks to expand access to geospatial information, promote innovation, strengthen domestic capability and increase private-sector participation. It builds on the liberalisation measures introduced in 2021, which removed prior-approval requirements for a broad range of geospatial activities by

Indian entities, subject to prescribed conditions.

The direction of policy is therefore towards greater availability and commercial use of geospatial information while simultaneously strengthening domestic capability.

National Geospatial Infrastructure

Policy implementation is progressing through initiatives such as Operation Dronagiri, launched alongside geospatial-data-infrastructure initiatives to demonstrate geospatial use cases across states including Uttar Pradesh, Haryana, Assam, Andhra Pradesh and Maharashtra.

The Department of Science & Technologys National Geospatial Programme encompasses geospatial science and technology, analytics and intelligence, policy, solution development, capacity building, entrepreneurship and international cooperation.

PM GatiShakti represents another important demonstration of mainstream geospatial adoption. The use of thousands of spatial data layers for integrated infrastructure planning indicates that geospatial information is increasingly becoming part of the decision architecture of major capital programmes rather than serving only as an output of individual mapping activities.

Geospatial Industry Trends for FY2025 26

• Expansion of Earth Observation: Earth Observation satellites are providing increasingly frequent imagery for agriculture, infrastructure, urban development, disaster management, environmental monitoring and natural-resource assessment. Improvements in spatial, temporal and spectral resolution are broadening the range of decisions that can be supported through satellite-derived information.

• Growth of Reality Capture: LiDAR, UAV photogrammetry, terrestrial laser scanning and mobile mapping are increasing the speed and level of detail with which physical environments can be captured. Reality-capture datasets can support design, engineering, asset inventory, digital twins and change monitoring across infrastructure and facilities.

• GeoAI and Automated Spatial Intelligence: Artificial intelligence and machine learning are increasingly being applied to large geospatial datasets. Potential applications include automated feature extraction from imagery and point clouds, object classification, change detection, anomaly identification, infrastructure-condition assessment, vegetation analysis and natural-resource monitoring.

LiDAR point clouds containing millions or billions of observations can increasingly be segmented automatically to identify buildings, roads, utilities, poles and vegetation. Similarly, imagery from different dates can be processed to identify construction, environmental changes or encroachments.

• GIS and Engineering Convergence: Geospatial information is increasingly being integrated with engineering data. BIM provides detailed engineered-asset information, while GIS supplies the surrounding geographic and network context. Their convergence enables a broader digital representation of infrastructure from planning through construction and asset management.

• Digital Twins: Digital twins are evolving from 3D visualisation towards dynamic representations combining 3D geometry, BIM, GIS, asset records, IoT feeds, operating systems and analytics. During construction, they can support design review and progress monitoring; during operations, they can support inspection, scenario analysis and predictive maintenance.

Private-sector research estimates Indias digital-twin market at approximately USD 762 million in 2024 and USD 3.79 billion by 2030, implying a CAGR of approximately 30.6%. As definitions and methodologies differ among research providers, these figures should be viewed as directional indicators rather than precise measurements.

• AI Compute and Cloud Infrastructure: Greater availability of high-performance computing and cloud infrastructure is reducing barriers to processing large spatial datasets. Indias public AI-compute initiative is designed to broaden access to AI computing resources for startups, academia, MSMEs and industry, potentially supporting greater adoption of computer vision, simulation and spatial AI.

• Real-Time Spatial Data: Integration of IoT and operational data with GIS is creating increasingly dynamic location-based systems. Utilities, transportation networks, cities and industrial assets can combine static geospatial information with live sensor data to improve situational awareness and operational decision-making.

Key Growth Drivers

• Infrastructure Digitalisation: The growing use of geospatial platforms across infrastructure planning and asset management is expanding location intelligence into mainstream engineering and operational workflows.

• Policy Liberalisation: Indias geospatial policy framework encourages greater private-sector participation and innovation.

• Increasing Data Availability: Satellite imagery, drones, LiDAR, mobile mapping and IoT are generating larger and more frequent datasets.

• Artificial Intelligence: AI is reducing the effort required to extract information from large geospatial datasets and enabling more scalable analysis.

• Cross-sector Adoption: Water, power, transportation, cities, agriculture, telecom and environmental management increasingly depend on spatial information.

• Digital Twin Adoption: Integration of GIS, BIM, reality capture and operational data is creating new lifecycle asset-management applications.

Market estimates for the wider geospatial economy remain positive, although definitions vary significantly.

One widely cited industry forecast estimates approximately USD 681 billion in 2025 and USD 1.44 trillion by 2030. Rather than treating a single estimate as a precise measure, the more defensible conclusion is that major forecasts continue to anticipate substantial expansion of geospatial applications through the end of the decade.

Challenges

The increasing importance of geospatial information also introduces challenges.

Data Quality and Consistency: Spatial analytics and digital twins depend heavily on accurate and current source information. Incomplete asset inventories, inconsistent coordinate systems and outdated records can reduce the reliability of outputs.

Interoperability: Infrastructure organisations often operate multiple legacy and modern systems. Integrating GIS with engineering applications, ERP, SCADA, IoT and cloud systems can create substantial implementation complexity.

Cybersecurity and Data Governance: Geospatial datasets can include sensitive infrastructure information. Secure data architecture, access management and appropriate treatment of data sovereignty are therefore increasingly important.

AI Governance: A GeoAI system can scale errors as effectively as it scales insight. Model provenance, training-data quality, explainability, spatial bias and human verification are important considerations where AI-generated information may influence physical-world decisions.

Skills: Effective implementation increasingly requires multidisciplinary expertise combining geospatial technology, engineering, data science, cloud computing and sector-specific knowledge.

Outlook

Geospatial technology is increasingly moving from a specialist mapping function towards an enabling layer of digital infrastructure. The interaction of policy reform, Earth

Observation, reality capture, AI, GIS, BIM, IoT and digital twins is expected to expand the role of spatial intelligence across public and private-sector decision-making.

The greatest value is likely to shift progressively towards systems that continuously interpret, update and operationalise geospatial information rather than merely collect and display it.

B. ARCHITECTURE, ENGINEERING & CONSTRUCTION,

BIM AND TRANSPORTATION INFRASTRUCTURE

Infrastructure Investment and Digital Delivery

Indias Architecture, Engineering and Construction ecosystem continues to benefit from sustained public infrastructure expenditure, urbanisation, industrial development and technology adoption.

Large infrastructure programmes increasingly involve multiple disciplines, consultants, contractors and authorities. Traditional dependence on disconnected drawings, spreadsheets, documents and project systems makes coordination more difficult as programme complexity increases.

Digital delivery is therefore becoming progressively important across design, construction and lifecycle management.

BIM and Common Data Environments

Building Information Modelling is evolving from a design technology into a broader information-management environment. BIM provides a structured digital representation of an engineered asset, while a Common Data Environment provides controlled access to project documents, models and related information.

This supports improved coordination across project teams, reduces duplication and provides greater control over versions, approvals and information exchange.

4D and 5D Project Management

Integration of BIM with programme schedules enables 4D construction planning, allowing teams to visualise project sequencing and understand how construction should progress over time.

Adding quantity and cost information creates 5D workflows, enabling project teams to assess how design and schedule changes may influence quantities and financial outcomes.

Digital project-management platforms can further integrate dashboards, progress information, issues and approvals to improve management visibility.

GIS BIM Integration

BIM describes the engineered asset, while GIS places that asset within its geographic and network context.

Their integration is particularly important for large infrastructure systems such as highways, metros, railways, utilities and urban developments, where land, existing infrastructure, environmental conditions and neighbouring assets materially affect project decisions.

The combination enables information to move more effectively from survey and planning through design, construction and operations.

Reality Capture and Construction Monitoring

UAVs, LiDAR, terrestrial scanning and photogrammetry are increasingly being used to capture existing conditions and monitor construction.

Repeated reality capture can provide objective evidence of site progress and enable comparison between planned and actual conditions. At completion, the resulting data can contribute to digital asset records and future operations and maintenance.

Transportation Infrastructure

Transportation is particularly suited to integrated geospatial and digital-engineering approaches because roads, railways, metros, airports and ports are spatially extensive assets with long lifecycles.

GIS supports route planning, utility and land analysis, environmental assessment and network-level management.

BIM supports multidisciplinary engineering, while CDE and project-control systems provide structured environments for implementation.

Intelligent Traffic Management Systems (IMTS)

Indias transportation infrastructure is increasingly incorporating Intelligent Traffic Management Systems (ITMS) to improve traffic flow, road safety, enforcement and real-time network management. ITMS deployments typically integrate adaptive traffic-control systems, CCTV and video analytics, Automatic Number Plate Recognition, red-light and speed-violation detection, electronic enforcement and centralised command-and-control platforms. Under the Smart Cities Mission, ITMS has been integrated with Integrated Command and Control Centres across cities, enabling real-time traffic monitoring and data-driven management. Government assessments indicate that these systems are supporting improved traffic operations, more effective enforcement of violations and reduction in journey times. Similar technology-led approaches are also being adopted on highways and expressways through Advanced Traffic Management Systems incorporating incident detection, surveillance and electronic enforcement.

The increasing adoption of such systems reflects a broader shift from conventional traffic-control infrastructure towards connected, data-driven transportation management, combining sensors, communications, GIS, video analytics, artificial intelligence and centralised operating platforms to improve mobility and road-network efficiency.

Road and Transport Asset Management

As transport networks expand, asset owners increasingly require structured information on pavements, structures, roadside assets, safety systems and maintenance history.

Road Asset Management Systems can integrate condition information with GIS and engineering analysis, enabling authorities to prioritise interventions and allocate maintenance budgets based on asset condition and lifecycle requirements.

Key Growth Drivers

• Sustained Infrastructure Expenditure: Continued investment across highways, railways, metros, ports and urban infrastructure supports engineering and project-management requirements.

• Growing Programme Complexity: Multi-stakeholder projects require better information governance, coordination and progress visibility.

• Shift towards Digital Delivery: BIM, CDE, 4D/5D planning and digital project management are increasingly relevant to major infrastructure programmes.

• Lifecycle Asset Management: Infrastructure owners are increasingly focused not only on construction but also on the long-term condition, performance and maintenance of assets.

Challenges

Key challenges include fragmented legacy systems, limited interoperability across technology platforms, inconsistent data standards, differing levels of digital maturity across project participants, project approval cycles and the requirement to develop multidisciplinary skills capable of working across engineering and digital environments.

C. WATER AND WASTEWATER

Sector Overview

Indias water sector is entering a new phase of development.

While significant investment in physical infrastructure remains necessary, the focus is progressively broadening from asset creation towards reliable service delivery, network efficiency, source sustainability, wastewater management, monitoring and long-term operations.

Expanding Water Supply Coverage

As of end of FY 2025-26, approximately 15.69 crore of Indias 19.36 crore rural households, or 81.02%, had tap-water connections under the Jal Jeevan Mission. This represented approximately 12.56 crore additional household connections from the programmes 2019 baseline. As coverage increases, the sectors priorities are evolving.

Greater emphasis is required on whether water reaches consumers reliably, at appropriate pressure and quality, and whether the infrastructure created can be operated and maintained sustainably.

Jal Jeevan Mission itself extends beyond pipeline construction. Its framework includes source sustainability, recharge, reuse, greywater management, conservation and rainwater harvesting. The next phase of infrastructure development therefore increasingly requires measurement, data management and lifecycle operation alongside civil infrastructure.

Water Distribution and Network Modernisation

Urbanisation and expansion of service areas are creating continuing requirements for pipeline rehabilitation, pressure management, asset mapping and network optimisation. Many utilities operate infrastructure developed over several decades, often with incomplete or inconsistent digital asset records.

GIS-linked network information can provide structured records of pipelines, valves, pumping stations, reservoirs, treatment plants and service connections together with information on capacity, condition and maintenance history.

Integration of these records with operational systems can improve understanding of how networks perform in real operating conditions.

Non-Revenue Water and Efficiency

Reduction of Non-Revenue Water (NRW) remains an important priority. Water losses can arise from physical leakage, inaccurate metering, illegal connections, incomplete consumer indexing and deficiencies in network information.

Modern NRW programmes increasingly combine network surveys, consumer indexing, GIS, hydraulic modelling, flow and pressure measurement, District Metered Areas, leak detection and operational analytics. The objective is progressively moving from identifying losses at an aggregate level to locating and addressing them systematically.

Digital Water Management

Supervisory Control and Data Acquisition (SCADA), IoT and telemetry are becoming increasingly relevant to water operations. Real-time monitoring of flow, pressure, reservoir levels, pumping operations and water quality can enable utilities to detect abnormal conditions more rapidly and make more informed operating decisions.

Integrated dashboards and centralised command environments can combine information from multiple assets and systems, providing operators with improved visibility across large networks.

Wastewater Treatment and Reuse

Urban water programmes demonstrate increasing emphasis on sewerage, treatment and reuse alongside freshwater supply. AMRUT 2.0 includes conventional network investments as well as initiatives involving 24x7 water supply, SCADA and treated-water reuse. Public project records include 24x7 water-supply and SCADA augmentation in Navi Mumbai and a 42 MLD treated-wastewater-reuse project in Vadodara, illustrating the growing importance of resource efficiency and reuse within urban water planning.

AI, Analytics and Digital Twins

Once reliable network and operating data are available, artificial intelligence and analytics can support anomaly detection, demand forecasting, leakage identification, pressure optimisation, predictive maintenance and prioritisation of capital expenditure.

Digital twins can extend these capabilities by integrating hydraulic models, spatial information and operational data into dynamic representations of water networks.

This enables utilities to simulate scenarios, understand the effects of operational changes and potentially move towards more predictive forms of asset management.

Sector Outlook

The longer-term water opportunity extends across the complete asset lifecycle: water-resource planning, engineering surveys, Detailed Project Reports, hydraulic modelling, network digitisation, NRW reduction, project monitoring, instrumentation, SCADA, IoT, water-quality management, wastewater treatment, reuse and operations and maintenance.

Climate variability, population growth, urbanisation and competition for water resources reinforce the need for more efficient management. However, implementation remains dependent on public funding, project approvals, local utility capability and the ability to maintain digital infrastructure after commissioning.

D. ENERGY AND UTILITIES

Indias power sector is expanding while simultaneously becoming more decentralised, data-intensive and operationally complex.

Renewable Energy Expansion

As of July 31, 2026, Ministry of New and Renewable Energy data indicated approximately 164.6 GW of solar capacity and 58.1 GW of wind capacity. Renewable capacity including large hydro stood at approximately 291.7 GW, while total non-fossil capacity including nuclear power was approximately 300.5 GW.

Continued renewable-capacity additions are changing the requirements of the broader electricity system. Solar and wind resources are geographically distributed and variable, increasing the need for transmission infrastructure, forecasting, balancing and flexible operation.

Transmission and Grid Modernisation

The Central Electricity Authority is planning transmission infrastructure to integrate more than 500 GW of non-fossil capacity by 2030, together with a longer-term transmission framework associated with more than 900 GW by 2035 36.

Expansion at this scale requires new transmission corridors, substations, network upgrades and increasingly sophisticated planning and monitoring systems.

Energy Storage

Energy storage is emerging as a critical component of renewable integration. Based on the National Electricity Plan, estimated storage requirements are approximately 82.37 GWh in FY2026 27, comprising pumped-storage and battery-energy-storage systems, rising substantially to approximately 411.4 GWh by FY2031 32.

The addition of storage introduces new assets and operational variables, further increasing the need for integrated data and network management.

Utility Digitalisation

Grid modernisation increasingly requires integration among GIS, SCADA, Distribution Management Systems, Outage Management Systems, Advanced Metering Infrastructure and other operational data platforms.

An integrated digital environment can improve network visibility, support outage response, strengthen maintenance planning and provide operators with a more complete representation of the electricity network.

Geospatial Intelligence and Asset Management

Geospatial technology has important applications in transmission-corridor planning, right-of-way analysis, renewable siting, land assessment, network mapping and asset inventory.

LiDAR, aerial imagery and remote sensing can support powerline modelling, clearance analysis and infrastructure inspection. Enterprise GIS can enable utilities to maintain structured and spatially accurate records across extensive transmission and distribution networks.

Vegetation and Corridor Management

Vegetation management is becoming increasingly technology-enabled, particularly across long transmission and distribution corridors. Remote sensing, LiDAR and imagery can assist in identifying vegetation encroachments, analysing clearances and prioritising field inspection or trimming activity based on risk.

Machine-learning techniques can further assist in processing large datasets and identifying areas requiring attention.

Digital Twins and Predictive Operations

Digital twins provide an additional layer by integrating network geometry, engineering information, operating data and analytics. Potential applications include asset-condition assessment, simulation, maintenance planning and predictive operations.

Their effectiveness, however, depends on the completeness, consistency and interoperability of underlying asset and operational data.

Sector Outlook

The Energy opportunity is therefore broader than renewable generation alone. Renewable additions, transmission expansion, storage, smart metering and increasing network complexity are creating requirements for energy-infrastructure digitalisation across planning, asset management, monitoring and operations.

E. MOBILITY ENGINEERING

Automotive Industry Performance

Global Automotive and Mobility Trends

The global automotive industry is undergoing a significant engineering transformation driven by electrification, software-defined vehicles, connectivity, automation and increasingly digital manufacturing environments. These changes are increasing the engineering content of vehicles and reshaping the way automotive products are designed, validated and manufactured.

Electrification remains one of the most significant global trends. According to the International Energy Agency, global electric-car sales exceeded 20 million units in 2025, representing growth of around 20% year on year and approximately one-quarter of global car sales. The transition is creating new requirements across battery systems, thermal management, lightweight structures, power electronics, vehicle packaging and charging infrastructure.

At the same time, the increasing software and electronics content of vehicles is accelerating the development of software-defined and connected vehicle architectures.

Embedded systems, electronic control systems, digital interfaces, connectivity and advanced validation are becoming increasingly important components of automotive engineering.

Automotive manufacturers globally are also increasing the use of simulation, virtual validation, Product Lifecycle Management and digital manufacturing to shorten development cycles and reduce reliance on physical prototypes. Robotics, manufacturing-process simulation, virtual commissioning and factory automation are becoming increasingly integrated into production engineering.

These trends are expanding the scope of mobility engineering beyond conventional mechanical design towards a multidisciplinary environment combining mechanical engineering, electronics, software, simulation and advanced manufacturing.

Indian Automotive Industry Performance

Indias automotive industry remained robust during FY2025 26. According to the Society of Indian Automobile Manufacturers, domestic vehicle sales were approximately 28.27 million units, compared with approximately 25.61 million units in FY2024 25, representing growth of roughly 10.4%. Total vehicle production was approximately 34.71 million units, while exports were about 6.65 million units. Initial FY2026 27 industry data also remained positive, with growth across passenger vehicles, two-wheelers, commercial vehicles and three-wheelers, although commodity costs and geopolitical developments remain areas of concern.

Electrification in India

In India, electric-car sales increased by approximately 75% to around 165,000 units in 2025, approaching 4% of domestic car sales.

Electrification is significantly further advanced in smaller vehicle categories. India sold just under 1.3 million electric two-wheelers in 2025, representing around 6% of two-wheeler sales, while electric three-wheelers approached 800,000 units and accounted for more than two-thirds of three-wheeler sales. The pace of transition therefore differs materially across vehicle categories.

Policy Support – PM E-DRIVE

The PM E-DRIVE scheme, with an overall outlay of approximately Rs11,900 crore, supports electric two- and three-wheelers, buses, trucks, ambulances, testing infrastructure and charging. Approximately Rs2,000 crore is allocated to public charging infrastructure, with the tenure for specified components and categories extended to March 31, 2028.

Product Engineering Transformation

Electrification and new vehicle architectures are creating engineering requirements around battery integration, thermal management, lightweight structures, power electronics, vehicle packaging and validation.

The interaction between mechanical, electrical, electronic and software systems is increasing the need for multidisciplinary engineering across the product-development lifecycle.

Software-defined and Connected Vehicles

Globally, automotive development is progressively moving towards greater software and electronics content.

Embedded systems, electronic architectures, connectivity, digital interfaces and system-level validation are becoming increasingly important elements of vehicle development.

This shift is expanding the engineering effort required across integration, testing, validation and lifecycle software management.

Simulation and Virtual Validation

Simulation and virtual validation are increasingly being used to shorten product-development cycles, improve design maturity and reduce dependence on physical prototypes.

Relevant engineering disciplines include crash simulation, Noise, Vibration and Harshness, durability, multi-body dynamics, Computational Fluid Dynamics, thermal analysis and manufacturing simulation.

Digital Manufacturing and Factory Automation

Manufacturing engineering is also becoming increasingly digital. Automotive and industrial manufacturers are investing in process simulation, line balancing, robotic simulation, virtual commissioning, automation and digital manufacturing.

Product Lifecycle Management systems provide a digital thread across product definition, configuration and manufacturing information, helping improve continuity from design to production.

Key Growth Drivers

• Global Electrification: EV adoption continues to reshape vehicle architecture and engineering requirements.

• Software and Electronics: Increasing software content is expanding embedded, connected and validation requirements.

• Virtual Engineering: Simulation and digital validation are becoming more important as manufacturers seek shorter development cycles.

• Digital Manufacturing: Robotics, automation, virtual commissioning and process simulation are transforming manufacturing engineering.

• Indian Automotive Growth: Indias large domestic automotive market and growing production base provide an additional demand driver.

• Engineering Complexity: Increasing interaction between mechanical, electrical, electronics and software systems is raising engineering intensity across vehicle programmes.

Challenges

The sector remains exposed to cyclical automotive demand, commodity-price movements, changing consumer preferences and differences in EV-adoption rates across regions and vehicle segments.

Automotive manufacturers also face continuing pressure to manage product-development costs while investing simultaneously in electrification, software, electronics and manufacturing transformation. Rapid technological evolution can require frequent investment in new tools, platforms and specialist engineering skills.

Outlook

The global automotive industry is expected to continue transitioning towards electrified, connected, software-intensive and digitally engineered products. At the same time, India remains an important automotive production and consumption market.

The Mobility Engineering opportunity is therefore increasingly driven not only by growth in vehicle volumes but by the rising engineering complexity of vehicles and manufacturing systems globally. Electrification, embedded systems, simulation, virtual validation, PLM and manufacturing automation are expected to remain important areas of engineering transformation.

F. DATA CENTRES, AI COMPUTE AND DIGITAL INFRASTRUCTURE

Market Expansion

Indias data-centre industry continues to expand as cloud adoption, enterprise digitalisation and artificial-intelligence workloads increase demand for computing capacity. Industry estimates vary according to methodology. CBRE estimated operational capacity at approximately 1,530 MW by September 2025, while Cushman & Wakefield subsequently estimated approximately 1.6 GW of operational capacity in 2026, with substantial additional capacity under construction or planned.

Given differences in definitions, the broad conclusion is that India has moved into approximately the 1.5 1.6 GW operational-capacity range, with a significant development pipeline.

AI-led Compute Demand

Artificial intelligence is an important incremental demand driver. Training and inference workloads require high-density computing, increasing requirements for reliable power, cooling, network connectivity and energy efficiency.

The AI investment cycle therefore has important implications for physical infrastructure as well as computing infrastructure.

Infrastructure Requirements

Large data-centre facilities require reliable grid connections, cooling and water systems, land, fibre connectivity, engineering infrastructure and operational monitoring.

Site-selection decisions increasingly involve assessment of power availability, environmental constraints, connectivity, resilience and other geographic factors.

Digital Engineering and Asset Management

As data-centre campuses increase in scale and complexity, BIM, digital twins, CDEs, reality capture and asset-information systems can support design, construction, commissioning and subsequent operations.

The sector therefore creates adjacent requirements across engineering, geospatial analysis and lifecycle asset management.

Sustainability and Resource Constraints

Power availability, grid capacity, water consumption, land availability and sustainability requirements remain important considerations. As AI-led compute requirements increase, operators will face continued pressure to improve energy efficiency and integrate renewable power.

Outlook

Indias continued digitalisation and the increasing adoption of cloud and AI technologies are expected to support additional data-centre investment. However, resource availability, infrastructure capacity and sustainability considerations will remain critical to project development.

OPPORTUNITIES

The developments across infrastructure, utilities, geospatial technologies, mobility and digital infrastructure point to a number of interconnected opportunities.

• Digitalisation of Physical Infrastructure: Roads, railways, metros, water systems, power networks and urban infrastructure increasingly require a digital information layer alongside physical construction. GIS,

BIM, CDEs, digital project management, reality capture and analytical dashboards can create a digital thread from planning through execution and operations.

• Digitally Managed Water Systems: As water-supply coverage expands, the focus is increasingly shifting towards service reliability, NRW reduction, pressure and flow monitoring, water-quality assurance, wastewater reuse and long-term operations. Integration of engineering with GIS, hydraulic modelling, SCADA, IoT and analytics can support this transition.

• Grid Modernisation and Energy Intelligence:

Renewable capacity additions, transmission expansion, distributed assets and storage are increasing the complexity of electricity networks. Network GIS, remote inspection, geospatial siting, asset intelligence and operational analytics can support planning and management of these systems.

• GeoAI and Spatial Automation: Increasing availability of Earth Observation, LiDAR, drone and reality-capture data creates substantial opportunities for automated feature extraction, change detection, classification and condition assessment. Artificial intelligence can potentially reduce the time required to convert large spatial datasets into usable infrastructure intelligence.

• Digital Twins and Lifecycle Asset Management:

Integration of GIS, BIM, IoT and operational data creates opportunities to maintain dynamic digital representations of infrastructure and assets. These systems can support progress monitoring, scenario analysis, maintenance planning and operational decision-making across multiple industries.

• Mobility Engineering Transformation: Electrification, embedded systems, software, simulation and manufacturing automation continue to increase the engineering intensity of vehicle programmes. These changes create requirements for multidisciplinary product-development, validation and manufacturing capabilities.

• AI-led Digital Infrastructure: Growth in AI computing is increasing demand for data centres and associated power, cooling, connectivity and engineering infrastructure. This also supports adoption of cloud-based analytics, computer vision and engineering automation in other sectors.

• Cross-sector Technology Convergence: Increasingly, infrastructure problems cannot be addressed through individual technologies in isolation. Geospatial information, engineering, sensors, cloud systems, AI and analytics are converging into integrated operational environments, creating opportunities for multidisciplinary solutions.

THREATS AND INDUSTRY CHALLENGES

The positive structural environment is accompanied by several challenges that could affect the pace of industry growth and project implementation.

• Extended Procurement Cycles: Large public-infrastructure projects can involve extended periods of tendering, technical evaluation, commercial evaluation, administrative approvals and contractual finalisation.

Consequently, the timing of industry opportunities can remain difficult to predict.

• Increasing Competitive Intensity: Engineering companies, IT service providers, specialist GIS firms, software OEMs, consulting organisations and new AI-led companies are increasingly competing across overlapping areas of the infrastructure-technology value chain.

• Rapid Technology Obsolescence: Artificial intelligence, cloud architectures, sensors, engineering platforms and software environments are evolving quickly.

Organisations must continuously evaluate emerging technologies and maintain relevant technical skills.

• Data Quality and Legacy Systems: Digital twins, analytics and GeoAI rely on reliable source information.

Incomplete asset records, inconsistent data standards and fragmented legacy systems can increase implementation effort and reduce the quality of digital outputs.

• Cybersecurity and Data Sovereignty: Infrastructure systems increasingly contain sensitive operational and spatial data. Greater connectivity creates additional requirements around cybersecurity, access management, traceability and data residency.

• AI Governance: Automated analysis can propagate incorrect or biased outputs at scale. Model quality, provenance, explainability and human validation will become increasingly important where AI supports engineering or infrastructure decisions.

• Specialised Talent Availability: The convergence of engineering, GIS, cloud, AI, automation and domain knowledge increases demand for multidisciplinary professionals whose skills may take considerable time to develop.

• Macroeconomic and Geopolitical Volatility: Energy prices, trade restrictions, exchange-rate movements and geopolitical conflicts can affect investment decisions, input costs and international project activity.

• Automotive Market Cyclicality: Automotive engineering remains influenced by underlying vehicle demand and customer product-development cycles. Changes in EV adoption, technology investment or product strategies may influence engineering expenditure.

These factors imply that while the structural opportunity across infrastructure and digital engineering remains substantial, the pace of growth will continue to depend on investment decisions, execution capability, technology development and customer procurement cycles.

OUTLOOK

Infrastructure and Public Investment Outlook

India enters FY2026 27 following strong economic growth and with continued public support for infrastructure investment. Effective capital expenditure of approximately Rs17.15 lakh crore, continuing investment in transportation and wider use of PM GatiShakti provide a supportive environment for infrastructure development.

More significantly, infrastructure programmes are increasingly expected to incorporate digital planning, monitoring and asset information alongside conventional engineering.

Geospatial and Digital Engineering Outlook

Geospatial technology is expected to become more deeply embedded in infrastructure, utilities and enterprise operations. The combination of Earth Observation, reality capture, GIS, BIM, AI and digital twins is expanding spatial intelligence from mapping towards automated interpretation and lifecycle decision-making.

GeoAI is expected to become particularly important as the volume and frequency of spatial data continue to increase.

Utilities and Sustainability Outlook

Water and power infrastructure are becoming increasingly data-intensive. In Water, expanding network coverage is increasing the importance of operations, monitoring, efficiency and reuse. In Energy, renewable integration, transmission expansion and storage are increasing network complexity.

These trends are expected to support continued adoption of digital asset management, SCADA, IoT, geospatial analysis and predictive analytics.

Mobility and Digital Infrastructure Outlook

Indias automotive sector continues to benefit from a substantial domestic market, while electrification, software-defined architectures and manufacturing automation are reshaping engineering requirements.

Simultaneously, data-centre and AI infrastructure investment is creating additional demand for power, cooling, engineering and digital asset-management systems. Overall, the FY2026 27 industry outlook remains constructive. However, the environment is not without uncertainty. Geopolitical conditions, procurement timelines, technology cycles, financing costs and customer investment decisions will continue to influence the timing of opportunities.

RISKS & CONCERNS

Effective risk management is critical to sustaining business performance and protecting shareholder value.

The Company has established a robust Risk Management framework that ensures adequate controls, continuous monitoring, and proactive mitigation of potential threats.

This framework helps identify, assess, and prioritize risks based on their likelihood and potential impact, enabling the

Company to respond strategically.

Beyond the risk factors mentioned elsewhere in this report, the following key risks could materially impact on actual results versus expectations:

Regulatory Changes: Alterations in domestic and foreign policies, including laws, regulations, and tax regimes.

Foreign Exchange Volatility: Fluctuations in currency exchange rates affecting costs and revenues.

Licensing & Approvals: Failure to secure or renew essential approvals and licenses.

Contingent Liabilities: Realization of unanticipated legal or contractual obligations.

• Macroeconomic & Political Instability: Shifts in economic, political, or social conditions at local, regional, or national levels.

• Client Contract Risks: Termination of contracts without cause, with little or no notice, or with heavy penalties.

• Interest Rate Movements: Variations in interest, inflation, or deflation rates impacting financing and operating costs.

• Natural Disasters & Calamities: Events disrupting operations in affected geographies.

• Market Dynamics: Unpredictable fluctuations in industry demand, competition, and technology trends beyond the Companys control.

The Company remains committed to continuously enhancing its risk management capabilities to anticipate emerging threats and adapt to evolving market conditions

INTERNAL CONTROL AND SYSTEMS AND THEIR

ADEQUACY

As defined under Section 134(5) of the Companies Act, 2013, the Internal Financial Control (IFC) framework comprises the policies and procedures adopted by the Company to ensure orderly and efficient business conduct. This includes adherence to the Companys policies, safeguarding of assets, prevention and detection of frauds and errors, accuracy and completeness of accounting records, and timely preparation of reliable financial information.

Ceinsys has fully aligned its internal control framework with the requirements of the Companies Act, 2013.

The system is designed to enhance transparency and accountability in operations, with robust mechanisms to identify, assess, and mitigate risks. The framework lays down detailed processes to ensure its effectiveness. The controls are commensurate with the size and nature of the Companys operations and provide reasonable assurance regarding the accuracy and reliability of financial and operational information, compliance with applicable laws, and safeguarding of assets from unauthorized use. A clearly defined delegation of authority framework governs revenue and expenditure approvals, while processes for annual and long-term business planning are in place. The Company utilizes advanced ERP systems to consolidate and manage data across locations, ensuring efficient information exchange and alignment with global best practices. An

Internal Auditor, reporting to the Audit Committee, oversees the review of internal controls and operational risks in areas such as software delivery, accounting and finance, procurement, employee engagement, travel, insurance, and

IT processes. The Audit Committee evaluates internal audit reports, discusses observations with statutory auditors, and follows up on corrective actions. Regular updates are provided to the Board on the adequacy and effectiveness of the Companys internal control systems.

FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE

The financial statements of the Company have been prepared under Indian Accounting Standards (IND AS) which comply in all material respects with the Accounting Standards specified under Section 133 of the Companies Act, 2013 read with Rule 7 of the Companies (Accounts) Rules, 2014 and the relevant provisions of the Companies Act, 2013.

(Rs in Lakhs)

Particulars	Financial Year	Financial Year	Increase %
	2025-26	2024-25
Total Income (Standalone)	66,009	42,560	55%
Total Income (Consolidated)	67,771	42,972	58%
Earnings before interest, tax, depreciation (EBITD)- Standalone	19,583	11,873	65%
Earnings before interest, tax, depreciation (EBITD)- Consolidated	17,375	10,028	73%
Profit Before Tax (Standalone)	18,260	11,081	65%
Profit Before Tax (Consolidated)	15,606	8,954	74%
Profit after tax (PAT) (Standalone)	15,421	8,138	90%
Profit after tax (PAT) (Consolidated)	13,342	6,324	111%
Total Comprehensive Income (Standalone)	15,410	8,102	90%
Total Comprehensive Income (Consolidated)	13,385	6,360	111%
Earnings Per Share (EPS) (Standalone)	86.41	48.09	80%
Earnings Per Share (EPS) (Consolidated)	74.76	37.37	100%

Share Capital

The authorized share capital of the Company as on March 31, 2026 was Rs31,60,00,000/- divided into 3,16,00,000 equity shares of Rs 10/- each and paid-up share capital as at March 31, 2026 was Rs20,93,76,610/-divided into 2,09,37,661 equity shares of Rs10/- each. During the year, 34,96,515 shares were issued on conversion of warrants which enhanced the paid up capital of the company.

Other Equity

On Standalone basis, the Other Equity as at March 31, 2026 stood at Rs 66,474 Lakhs as against Rs 38,681 Lakhs as at March 31, 2025, showing an increase of 72%. On Consolidated basis, Other Equity as at March 31, 2026 stood at Rs 65,212 Lakhs as against Rs 39,444 Lakhs as at March 31, 2025 showing an increase of 65%.

The net increase is mainly on account of profit earned during the year, increase in securities premium on the shared issued during the year & proportionate increase in income from joint venture.

Long-Term Borrowings

On Standalone basis Long-term Borrowing decreased to Rs47 Lakhs as at March 31, 2026 from Rs79 Lakhs at March 31, 2025. Decrease in long term borrowings is due to repayment of term loan.

On Consolidated basis Long-term Borrowing increased to Rs 304 Lakhs as at March 31, 2026 from Rs 79 Lakhs at March 31, 2025. Increase in long term borrowings is due to addition of term loan during the financial year 2025-26.

Other Current Financial Liabilities

On Standalone basis, other current financial liabilities stood Ceinsys Tech Limited at Rs1,386 Lakhs as at March 31, 2026 as against Rs1,369 Lakhs as at March 31, 2025. On Consolidated basis, other current financial liabilities stood at Rs 1,810 Lakhs as at March 31, 2026 as against Rs1,596 Lakhs as at March 31, 2025.

Trade Payables

On Standalone basis, Trade payables increased to Rs15,297 Lakhs as at March 31, 2026 from Rs7,421 Lakhs as at March 31, 2025. The increase is mainly due to purchase from vendors which resulted in more liabilities of the company towards vendor payment.

On Consolidated basis, Trade payables increased to Rs 15,553 Lakhs as at March 31, 2026 from Rs 7,473 Lakhs as at March 31, 2025. The increase is mainly due to purchase from vendors which resulted in more liabilities of the company towards vendor payment.

Other Current Liabilities

On Standalone basis, other current liabilities increased to Rs 603 Lakhs as at March 31, 2026 from Rs 419 Lakhs at March 31, 2025. On Consolidated basis, other current liabilities increased to Rs 730 Lakhs as at March 31, 2026 from Rs 452 Lakhs as at March 31, 2025.

Short-Term Provisions

The short-term provision comprises provisions against gratuity liability and leave obligation towards employees.

On Standalone basis, short-term provisions were Rs 685 Lakhs as at March 31, 2026 as against Rs 374 Lakhs as at March 31, 2025.

On Consolidated basis, short-term provisions were Rs 779 Lakhs as at March 31, 2026 as against Rs 437 Lakhs as at March 31, 2025.

Non-Current Investments

On standalone basis, Non-Current Investment were Rs 3,376 Lakhs as at March 31,2026 as against Rs 3,366 Lakhs at March 31,2025. On Consolidation basis, Non-Current Investment were Rs 2,326 Lakhs as at March 31,2026 as against Rs 2,204 Lakhs at March 31,2025.

Other Non-Current Financial Assets

On standalone level these amounted to Rs 1,352 Lakhs as at March 31, 2026 as against Rs 772 Lakhs as at March 31, 2025. The increase is mainly on account of Increase in Deposits with bank with more than 12 months maturity.

On Consolidation level the amount of Other Non-Current Financial assets increased to Rs1,248 Lakhs as at March 31, 2026 from Rs 777 Lakhs as at March 31, 2025. The increase is mainly on account of Increase in Deposits with bank with more than 12 months maturity.

Current Financial Assets–Loans

The Loans recoverable in cash or kind which are due within twelve months from the Balance Sheet date are shown as Current Financial Assets Loans.

On Standalone basis, these amounted to Rs 1 Lakhs as at March 31, 2026 as against Rs 33 Lakhs as at March 31, 2025.

On consolidated basis, these amounted to Rs 1 Lakhs as at March 31, 2026 as against Rs 1 Lakhs as at March 31, 2025.

Other Non-Current Assets

On Standalone basis Non Current Assets were of Rs 89 Lakhs as at March 31, 2026 as against Rs 127 Lakhs as at March 31, 2025.

On Consolidated basis Non Current Assets were of Rs 89 Lakhs as at March 31, 2026 as against Rs127 Lakhs as at March 31, 2025.

Trade Receivables

On Standalone basis, Trade receivables amounted to

Rs 46,614 Lakhs as at March 31, 2026 as against Rs 25,181 Lakhs as at March 31, 2025.

On Consolidated basis, Trade receivables amounted to

Rs 46,927 Lakhs as at March 31, 2026 as against Rs 25,582 Lakhs as at March 31, 2025.

Cash and Cash Equivalent

On Standalone basis, cash and cash equivalent amounted to Rs 68 Lakhs as at March 31, 2026 as compared to Rs 150 Lakhs as at March 31, 2025.

On Consolidated Basis, these amounted to Rs 699 Lakhs as at March 31, 2026 as compared Rs 1,245 Lakhs as at March 31, 2025.

Bank Balance other than Cash & Cash Equivalent

On Standalone basis, deposits with banks amounted to Rs 28,461 Lakhs as at March 31, 2026 as compared to Rs14,925 Lakhs as at March 31, 2025.

On Consolidation basis, deposits with banks amounted to Rs 28,461 Lakhs as at March 31, 2026 as compared to Rs14,990 Lakhs as at March 31, 2025.

The major increases in both the levels is due Deposit of Share Warrant & Equity Proceeds amounting to Rs24,303 lakhs.

Other Current assets

On Standalone basis, total other current assets were of Rs 792 Lakhs as at March 31, 2026 as compared to total other current assets of Rs 1,566 Lakhs as at March 31, 2025. On Consolidated basis, total other current assets as at March 31, 2026 stood at Rs860 Lakhs as against Rs 1,644 Lakhs as at March 31, 2025. This decrease are mainly on account of decrease in advance to suppliers and decrease in balances with government authorities.

Total Revenue- Standalone

Total Revenue from operations on Standalone basis in financial year 2025-26 increased to Rs 63,517 Lakhs from Rs 39,973 Lakhs in the last financial year 2024-25 registering an increase of 59%.

The revenue has gone up due to receipt of new contract and execution of existing and new contracts in FY 25-26.

Total Revenue – Consolidated

Total Revenue from operations on consolidated basis in financial year 2025-26 increased to Rs 66,070 Lakhs from Rs 41,806 Lakhs in the last financial year 2024-25 an increase rate of 58%.

The revenue has gone up due to receipt of new contract and execution of existing and new contracts in FY 25-26.

Earnings before interest, tax and depreciation (EBITD)

Standalone

Earnings before interest, tax and depreciation (EBITD) for the financial year 2025-26 has been Rs19,583 Lakhs registering an increase of 65% over (EBITD) of Rs 11,873 Lakhs in financial year 2024-25.

Increase is on account of receipt of new contract and execution of existing and new contracts in FY 25-26.

Earnings before interest, tax and depreciation (EBITD)

Consolidated

Earnings before interest, tax and depreciation (EBITD) for the financial year 2025-26 has been Rs 17,375 Lakhs registering an increase of 73% over (EBITD) of Rs 10,028 Lakhs in financial year 2024-25.

Profit Before tax (PBT) – Standalone

Profit before tax for the financial year 2025-26 has been Rs 18,260 Lakhs recording an increase of 65% over the PBT of Rs 11,081 Lakhs in financial year 2024-25.

Increase is on account of increase in revenue.

Profit Before Tax (PBT) – Consolidated

Profit before tax for the financial year 2025-26 has been Rs 15,606 Lakhs recording an increase of 74% over the PBT of Rs 8,954 Lakhs in financial year 2024-25.

The variance is on account of increase in Revenue from Operations during the year.

Profit After Tax (PAT) – Standalone

Profit after tax (PAT) for the financial year 2025-26 has been Rs15,421 Lakhs recording an increase of 89% over the PAT of Rs 8,138 Lakhs in financial year 2024-25.

The variance is on account of increase in Revenue from Operations during the year.

Profit After Tax (PAT) – Consolidated

Profit after tax (PAT) for the financial year 2025-26 was Rs 13,342 Lakhs recording an increase of 111% over the Profit after tax (PAT) of Rs 6,324 Lakhs in financial year 2024-25.

The variance is on account of increase in Revenue from Operations during the year.

Net worth

On Standalone basis, Net worth for financial year 2025-26 was recorded at Rs 68,568 Lakhs as compared to Rs 40,425 Lakhs in previous financial year 2024-25. The net increase of Rs 28,143 Lakhs is mainly due to increase in profitability of FY 2025-26 and due to capital Infusion during the year. On Consolidated basis, Net worth for financial year 2025-26 was recorded at Rs 67,306 Lakhs as compared to Rs 41,188 Lakhs in previous FY 2024-25. The net increase of Rs 26,118 Lakhs is mainly due to increase in profitability of FY 2025-26 and due to capital Infusion during the year.

Earnings per Share (EPS)

On Standalone basis, Basic earnings per share went up to

Rs 86.41 per share in current financial year from Rs 48.09 per share in the previous year. For diluted earning per share went up to Rs 78.44 per share in current financial year from Rs 45.39 per share in the previous year.

On Consolidated basis, Basic earnings per share went up to Rs 74.76 per share in current financial year from Rs 37.37 per share in the previous year. For diluted earning per share went up to Rs 67.87 per share in current financial year from Rs 35.27 per share in the previous year.

On Standalone Level there is an increase in EPS on account of increase in profit after tax due to the reasons mentioned above.

On Consolidated level, there is increase in EPS on account of increase in profit after tax due to the reasons mentioned above.

Moreover, in year 2025-26 basic and diluted EPS are not the same as there were outstanding potential share during the year.

Segment Wise performance

The Company has organised its business into three segments:

1. Geospatial & Engineering Services This segment includes Geospatial solution for Cadastral mapping, Resource survey, mapping & analysis, Mining applications & Heritage Mapping. Engineering consultancy services includes hydraulic modelling, water metering solutions, municipal solutions, Consultancy services for the DPR preparations for water supply scheme, Road and Highways using LiDAR

Technology.

2. Technology Solutions This Segment includes IoT that merges live sensor feeds with project data for a 360? view of operations, risk, and progress. Tech solutions on the Tech platforms of Autodesk, Bentley, Esri, Aveva and otheRs

3. Others–This segment aiming to create renewable energy that is revolutionising and redefining the way sustainable energy sources are harnessed across the world. At present Ceinsys has invested in Wind Mills to generate renewable clean energy.

4. Unallocable consists of other income, expenses, assets and liabilities which cannot be directly identified to any of the above segments.

As per Ind AS 108 ‘Operating Segments, the Company has disclosed the segment information only as part of the consolidated financial results.

The table below gives the Consolidated revenue analysis by business segment for the period indicated:

Particulars	Year Ended 31.03.2026	Year Ended 31.03.2025
	Audited	Audited
1. Segment Revenue
a. Geospatial and engineering services	35,887	20,392
b. Technology Solutions	30,091	21,328
c. Others	92	86
Income From Operations	66,070	41,806
2. Segment Results
a. Geospatial and engineering services	7,251	4,214
b. Technology Solutions	8,916	6,032
c. Others	15	79*
Total	16,182	10,325
i) Finance Costs	-631	-252
ii) Other unallocable expenditure	-2,717	-3,283
iii) Unallocable Income	1,701	1,101
Share of Profit of Joint Venture	1,187	1,063
Profit before exceptional items and Tax	15,722	8,954
Exceptional items	116
Profit Before Tax	15,606	8,954

*include profit on sale of windmill land

Details of Significant Changes in Key financial ratios on the basis of Standalone Financials:

The significant changes in key ratio i.e changes of 25% or more as compared to previous financial year 2024-25 with detailed explanation is appended in the below mentioned table:

Particulars	As at March 31, 2026	As at March 31, 2025	% Variance	Reason for Variance
i) Debt equity ratio	0.04	0.09	-52%	Mainly due issue of equity share capital and profit during the year.
ii) Inventory Turnover ratio	955.14	695.19	37%	Mainly due to increase in revenue from operations.
iii) Trade receivables turnover ratio	4.75	3.66	30%	Mainly due to Increase in average trade Receivables and Revenue from operation.
iv) Trade payables turnover ratio	0.81	1.46	-45%	Mainly due to increase in operations.
v) Return on investment	6.18%	11.09%	-44%	The ratio has decreased mainly on account of increase in Fixed Deposits at year end, return on these Fixed Deposits are expected to accrue in next Financial Year.

MATERIAL DEVELOPMENTS IN HUMAN RESOURCES HUMAN RESOURCES

At CS TECH Ai, our employees are our greatest asset and the cornerstone of our sustainable growth. We remain steadfast in fostering their professional growth, overall well-being, and workplace satisfaction. Guided by our core values, our culture champions collaboration, integrity, inclusivity, and innovation across all operations.

During FY 2025 26, CS TECH Ai strengthened its employee engagement framework through structured learning pathways, recognition forums, comprehensive wellness initiatives, and pulse surveys that validated our employee-centric policies, transparent leadership communication, equitable workplace opportunities, and strong culture of pride and camaraderie.

Our people-first initiatives reached a defining milestone when CS TECH Ai was recognized as a Great Place To WorkR Certified organization. This global recognition is a testament to our unwavering commitment to building a high-trust, high-performance culture where diverse talent can thrive, achieve excellence, and feel valued.

Core Values

• Collaboration: We believe in the power of working together, knowing that it yields inspiring results.

• Respect for Diverse Perspectives: We recognise that varied viewpoints foster innovation and growth.

• Unconventional Thinking: We encourage creativity and ingenuity to help us translate ambitions into reality.

• Integrity: We stand on our integrity, acknowledging that trust and respect enable us to exceed expectations.

• Responsibility: We embrace our responsibility with a profound sense of commitment to our clients, colleagues, and the community.

• Client Partnership: We are passionate about building strong connections with our clients.

• Pride in Our People: We take pride in our employees, who are the core of our success.

POSH ACT & ETHICS AND SECURITY ORIENTATION

The Company maintains a strict zero-tolerance policy and full compliance under the Prevention of Sexual Harassment

(POSH) Act, 2013, alongside rigorous cybersecurity and corporate ethics guidelines across all office locations and remote operations. Following our national-level honors in previous years, we have continued to advance comprehensive sensitization programs and robust internal redressal mechanisms to guarantee a safe, secure, and respectful work environment for all.

New Joiners

Demonstrating sustained operational scaling and talent attraction, the Company welcomed 375 new team members during FY 2025 26 across technical, managerial, and operational functions.

Key Differentiators for Women Empowerment:

• Inclusive Recruitment & Referral Incentive: Tailored referral bonuses for onboarding female talent, paired with focused career advancement pathways that have positioned women leaders across key verticals including PMO, Quality, HR, L&D, RMG, Technical Delivery, and Corporate Governance.

• Holistic Health & Mental Well-being: Annual health screenings, periodic specialized masterclasses, and targeted mental wellness workshops prioritized throughout the year.

• Targeted L&D Investments: Dedicated skill enhancement and leadership development tracks curated specifically to build mid- and senior-level pipelines for women.

• Comprehensive Maternity & Family Benefits: 6 months of fully paid maternity leave, complemented by institutional support for IVF treatments, adoption, and surrogacy.

• ‘Maher Welcome Back & Relocation Program: Seamless post-marriage location transfer policies and structured re-entry frameworks for women transitioning back into the workforce after career breaks.

• Equal Opportunity & Pay Parity: Strict adherence to equal compensation frameworks across equivalent roles and performance levels.

• Retention & Leadership Mobility: Maintained strong retention of female talent through dedicated career pathways that consistently elevate high-performing women into mid-level and senior leadership positions.

Compliances & Governance

The Companys commitment to corporate governance and employee protection is evidenced by our rigorous compliance track record:

• Ethics & Security Governance: On time completion of the Annual Information Security and Ethics compliance survey across all business units.

• Statutory & POSH Governance: Complete compliance under all statutory state and central labor mandates, with affirmative POSH audit certifications across every operational branch.

• Comprehensive Benefit & Insurance Programs: All eligible personnel are covered under comprehensive Group Mediclaim (including dependents), Group Personal Accident, Group Term Life, and Workmens Compensation insurance policies.

Category of Employment as of March 31, 2026

Category	Headcount
On roll	1033
Contract / Consultants	41
Apprentices	30
Total Headcount	1104

Employee Satisfaction

Through continuous workplace improvements, active feedback loops, and open-door leadership, the Company recorded an overall NPS score of 80% (alongside our Great Place To WorkR benchmarking). Moving forward, CS TECH Ai remains dedicated to elevating employee experiences, nurturing talent, and driving sustainable business excellence through our dedicated workforce.