Bondada Engineering Limited , a key player in renewable energy, telecom, and railway infrastructure, has reported robust financial results for the first half of fiscal year 2026. The company's performance showcases significant growth across key financial metrics, with a substantial increase in its order book.

Financial Highlights

Bondada Engineering has demonstrated strong financial performance in H1 FY26:

The company's revenue mix for H1 FY26 was dominated by the renewable energy sector, contributing approximately 78% of the total revenue. Telecom and product segments contributed about 10% each to the overall revenue.

Order Book and Future Outlook

Bondada Engineering's order book stands at approximately INR 6,000 crores, with the following segment-wise breakdown:

Additionally, the company has L1 status worth INR 2,600 crores awaiting letter of awards. This potentially brings the total order book to INR 8,600 crores.

Operational Efficiency

The company has shown improvement in its working capital management:

• Debtor days reduced from 125 days to 107 days
• Cash conversion cycle improved from 110 days to 90 days

Future Growth Areas

Bondada Engineering is focusing on several growth areas:

1. Renewable Energy: Targeting 25 gigawatts of renewable energy deployment by 2030, including solar EPC, solar IPP, and Battery Energy Storage Systems (BESS).

2. BESS: The company has an order book of INR 850 crores in the BESS segment and expects 100% CAGR in this sector over the next 5 years.

3. Telecom: Continuing to strengthen its leadership in telecom infrastructure for Digital Bharat and 5G expansions.

4. Railways: Expanding its presence in railway safety projects, including Kavach passive infrastructure.

5. Data Centers and Defence: The company plans to enter these sectors, with more details expected in the coming quarters.

Management Commentary

Dr. Raghavendra Rao Bondada, Chairman and Managing Director, stated, "We are very much comfortable and confident that 60% of our target can be delivered in the second half. I think we are going to sustain both EBITDA, PBT or PAT margins. Maybe 100 base points increase will be there because of large scale operations."

The management expects to maintain the current PAT margins, with potential for slight improvement due to economies of scale.

Bondada Engineering aims to become a $1 billion company by 2030, driven by its diversified portfolio and strong order book. The company's focus on emerging sectors like BESS and potential entry into data centers and defence sectors positions it for continued growth in the coming years.

Bondada Engineering Limited , a key player in India's infrastructure landscape, has unveiled ambitious expansion plans across multiple sectors while reporting robust financial results for the first half of FY2026.

Expansion Strategy

The company aims to leverage its 14-year expertise in Engineering, Procurement, and Construction (EPC) to significantly scale up operations. Bondada's growth strategy focuses on three key areas:

1. Battery Energy Storage Systems (BESS)
2. Defence sector
3. Data centre operations and maintenance

The company has set a target to achieve an order book of ₹20,000 crores by FY2027, building on its integrated renewables-telecom infrastructure model.

Financial Highlights H1FY26

Bondada Engineering has reported strong financial performance for the first half of FY2026:

Segment-wise Performance

The company's revenue mix for H1FY26 shows a diversified portfolio:

Order Book and Future Outlook

As of October 28, 2025, Bondada Engineering's total order book stands at approximately ₹59,890 crore, providing strong visibility for future growth. The order book is well-diversified across business units:

• Renewable Energy (Solar EPC, IPP, BESS): ₹45,730 crore
• Telecom (EPC & O&M): ₹9,980 crore
• Indian Railways (Kavach Infra, Signalling): ₹2,280 crore
• Products: ₹1,900 crore

Additionally, the company has L1 orders worth ₹26,280 crore awaiting Letter of Award (LOA) and has submitted tenders for projects valued at ₹75,310 crore.

Strategic Initiatives

1. New Subsidiaries: The company has incorporated two new entities:

   • Greenbond RE Park Private Limited: A Special Purpose Vehicle (SPV) for developing a 2 GW solar power project, with Bondada Engineering holding a 51% stake.
   • Bondada Dynamics Private Limited: Established to mark Bondada's entry into the defence sector.

2. Manufacturing Expansion: In August 2025, the company launched a new 21,500 sq. ft. manufacturing facility (BTP-1) in Bogaram, Hyderabad, for its subsidiary Atpole Technologies Private Limited.

3. Employee Stock Options: The company allotted 2,01,000 equity shares at ₹2 each under its ESOP-2024 scheme in April 2025.

4. Share Warrants Conversion: Bondada Engineering converted share warrants worth ₹5,499.79 lakhs into 15,66,000 equity shares at a premium of ₹349.20 per share in May 2025.

With its strong order book, diversified business portfolio, and strategic expansion plans, Bondada Engineering appears well-positioned to capitalize on the growing infrastructure opportunities in India. The company's focus on emerging sectors like BESS and data centres, coupled with its entry into the defence sector, indicates a forward-looking approach to sustainable growth.

Investors and market watchers will likely keep a close eye on Bondada's execution capabilities and its ability to maintain profitability as it pursues its growth targets in the coming years.