Creative Newtech , along with its consortium partner, has received an Advance Work Order (AWO) from Bharat Sanchar Nigam Limited (BSNL) for the BharatNet Middle Mile Network Project in the Odisha Telecom Circle. The order, valued at approximately ₹3,194.83 crore, covers the design, supply, construction, installation, upgradation, operation, and maintenance of the network infrastructure. This project is part of the Government of India's flagship BharatNet programme, aimed at strengthening the digital backbone for rural and underserved regions in Odisha. The company's market capitalisation stands at ₹950 crore.

The AWO was issued by BSNL acting on behalf of Digital Bharat Nidhi, Department of Telecommunications, Government of India. The contract is expected to be completed within a period of approximately three years, subject to the fulfilment of terms and conditions, execution of a definitive agreement, and issuance of route-wise work orders by BSNL.

Project Scope and Execution

The consortium will be responsible for creating new infrastructure and upgrading existing networks to ring topology. Key deliverables include the establishment of a State Network Operations Centre and the deployment of advanced networking, fibre monitoring, and network management systems. The project scope also encompasses support for retail, enterprise, and wholesale services, backed by optical fibre infrastructure, IP-MPLS equipment, power systems, and last mile connectivity solutions across numerous locations in Odisha.

Strategic Implications

For Creative Newtech, this order strengthens its presence in large public sector technology programmes. The company stated that the project deepens its capabilities across infrastructure deployment, technology integration, project governance, and long-term managed services. It also positions the company to engage with emerging areas such as AI, IoT, and data center infrastructure. The integration of large-scale deployment with long-term operations and maintenance provides visibility across both implementation and service phases, potentially opening recurring revenue opportunities.

Management Commentary

Mr. Ketan Patel, Chairman & Managing Director of Creative Newtech Limited, emphasized the significance of the order. He stated that the project allows the company to contribute to a major digital infrastructure programme, which supports education, healthcare, and public services. Patel noted that the engagement reflects the company's direction towards building deeper capabilities in technology integration and infrastructure execution, reinforcing its path towards high-value opportunities.

Key Order Details

The following table summarises the key parameters of the Advance Work Order received from BSNL:

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE985W01018/bf1767e4ddc04645.pdf

Creative Newtech Limited announced its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. On a standalone basis, the company reported a net profit of Rs 34.35 crore for FY26, a year-on-year increase of 34.36% from Rs 25.56 crore in the previous year. For the fourth quarter, standalone net profit surged by 91.64% to Rs 12.40 crore from Rs 6.47 crore in the corresponding period of the previous year. The Board also recommended a final dividend of Re 0.50 (5%) per equity share of face value of Rs 10 each for FY26, subject to shareholder approval.

Standalone Financial Performance

Standalone total income for Q4 FY26 stood at Rs 718.36 crore, reflecting robust growth of 100.98% YoY from Rs 357.43 crore. EBITDA for the quarter grew by 102.53% YoY to Rs 23.85 crore, while EBITDA margin was 3.32%. For the full year FY26, standalone total income reached Rs 2,568.90 crore, a 54.24% increase from Rs 1,665.54 crore in FY25. Annual EBITDA increased by 50.02% to Rs 67.67 crore. Basic and diluted earnings per share (EPS) for FY26 stood at Rs 22.87, compared to Rs 17.82 in FY25.

Consolidated Financial Performance

On a consolidated basis, Creative Newtech reported revenue from operations of Rs 2,699.77 crore for FY26, compared to Rs 1,774.48 crore in FY25. Consolidated total income for FY26 stood at Rs 2,717.51 crore versus Rs 1,801.47 crore in the previous year. Consolidated profit before tax for FY26 was Rs 81.76 crore, up from Rs 61.55 crore in FY25. The consolidated profit for the year was Rs 70.29 crore, reflecting a year-on-year growth of 32.35%. Consolidated basic and diluted EPS for FY26 stood at Rs 41.04, compared to Rs 32.18 in FY25.

Segment-wise Performance

The standalone segment reporting highlights strong growth across both business verticals. The Market Entry Specialist segment remained the dominant revenue driver, contributing Rs 2,318.92 crore in FY26 versus Rs 1,503.80 crore in FY25. The Brand Business segment contributed Rs 232.24 crore in FY26, up from Rs 134.75 crore in FY25. On a consolidated basis, the Brand Business segment revenue grew to Rs 380.86 crore in FY26 from Rs 270.68 crore in FY25, while the Market Entry Specialist segment contributed Rs 2,318.92 crore.

Strategic Developments & Outlook

The Board appointed Mr. Ajit Thakur as Chief Financial Officer and Key Managerial Personnel with effect from May 14, 2026. Management stated that the company aims to grow revenue by at least 25-30% annually and profit by 30% in absolute terms for the next 5-6 years. The company plans to separate its brand business and market entry business in the long term, potentially initiating a demerger once the brand business reaches a scale of INR1,000 crores.

Creative Newtech strengthened its cybersecurity portfolio by entering into a distribution agreement with Kaspersky and signed a Pan-India distribution agreement with PDRL for drone technologies. The company received two major government orders, including one for Body-Worn Camera solutions and another for Disaster Management & Emergency Response Kits. Additionally, Honeywell supplied air purifiers to the Singapore Ministry of Education, and the company launched business operations in the Philippines. Management noted that while the Middle East conflict has impacted logistics costs, the company remains focused on expanding its presence in Southeast Asia and the US.