Pace Digitek co-subsidiary Lineage Power has secured a ₹488.46 crore order from Ntpc ge power services private limited for a Battery Energy Storage System (BESS) project. The deal strengthens the group's position in the energy storage sector.

New Order Details

The contract involves the supply and commissioning of BESS containers. While specific technical parameters such as capacity in MWh were detailed in prior disclosures for similar orders, this specific award to Lineage Power highlights the subsidiary's growing role in executing large-scale energy infrastructure projects for state-owned entities.

Order in Financial Context

The new order value of ₹488.46 crore represents approximately 67.4% of Pace Digitek's average quarterly revenue of ₹724.58 crore. The total disclosed order book stands at ₹7,380.43 crore across 15 orders over the last three fiscal quarters. This backlog provides coverage for 10.19 quarters, equivalent to 2.55 years of annual revenue at the current run-rate.

Company Order Track Record

Q1FY27 recorded ₹6,706.15 crore in order inflows across 12 orders. Q2FY27 added ₹674.29 crore across 3 orders, with clients including Kalpa power private limited and Ntpc ge power services private limited.

Execution and Revenue Quality

Consolidated revenue in Q1FY27 stood at ₹583.70 crore, with net profit of ₹62.50 crore. The operating profit margin (OPM) was 15.50% in Q1FY27, compared with 18.31% in Q3FY26 and 14.88% in Q4FY26.

Working Capital and Execution Capacity

The company maintains a current ratio of 1.69x, indicating adequate short-term liquidity for ongoing project requirements. Total liabilities/equity stands at 1.36x, which includes trade payables and non-debt liabilities. Operating cashflow was -₹842.10 crore in FY26.

Key Observations

• Order book coverage: 10.19 quarters of average quarterly revenue, equivalent to 2.55 years at current run-rate.
• Client diversity: Recent wins span domestic entities including Ntpc ge power services private limited, Kalpa power private limited, Damodar valley corporation (Dvc), and Nlc india renewables limited.
• Cash conversion: Operating cashflow stood at -₹842.10 crore in FY26, against a profitable consolidated net profit of ₹307.30 crore in FY26.

Pace Digitek Limited concluded its 19th Annual General Meeting on September 21, 2026, with shareholders approving all ten proposed resolutions. The final voting results reveal a participation rate of 73.68% of outstanding shares, driven primarily by near-unanimous support from the promoter group.

The meeting was held via video conferencing from 11:30 am to 12:45 pm IST. Thirty-seven members attended virtually, while e-voting facilities remained open for 30 minutes post-meeting. CS Shreyas Dwaraki served as the scrutinizer, confirming that the requisite quorum under Section 103 of the Companies Act, 2013 was present throughout.

Voting Participation and Results

As of the record date on September 14, 2026, the company had 99,851 shareholders. Of the 215,851,327 total shares held, 159,049,010 votes were polled across all resolutions, representing a significant engagement level from the public and institutional investors alongside the promoters.

The promoter group, holding over 150 million shares, voted in favour of all resolutions with a 100% approval rate on their polled votes. Public institutions showed high engagement, polling nearly 79% of their holdings, though their voting patterns varied slightly depending on the specific resolution.

Key Resolutions Approved

Shareholders voted on ten agenda items covering ordinary and special business. The primary ordinary resolutions included:

• Adoption of the audited financial statements for the financial year ended March 31, 2026.
• Reappointment of Mr. Venugopalrao Maddisetty as a Director liable to retire by rotation.
• Appointment of Mr. Pramod S as Secretarial Auditor for five years until March 31, 2031.

Special resolutions focused on related-party transactions and board composition:

• Ratification of remuneration for Cost Auditors M/s Kamalakara & Co.
• Appointment of Ms. Maya Swaminathan Sinha as Women Independent Director.
• Approval under Section 185 of the Companies Act, 2013 for loans or investments in Lineage Power Private Limited, Pace Renewable Energies Private Limited, and Inso Pace Private Limited.

Governance and Compliance

The Company Secretary noted that the Auditor’s Report and Secretarial Audit Report for FY26 contained no qualifications or adverse observations. Consequently, these reports were not read out during the meeting.

Mr. Venugopalrao Maddisetty, Chairman and Managing Director, delivered the chairperson’s address, highlighting key developments for FY25-26. Mr. Rajavendhan P, Chief Financial Officer, presented the operational and financial performance overview.

Five registered speakers participated, with two seeking clarifications on accounts and business operations. Management provided responses during the session. The scrutinizer will submit the final voting results to the stock exchanges within prescribed timelines.