My first question is on the data center revenue contribution. So what was the proportion in FY '26 full year and 4Q?
Okay. And then in your opening remarks, you said that this year, you expect moderate growth across product segments. So what would be moderated? Is it low double -digit, mid-teens, high single digit? And how should we think about that objective, moderate?
My first question is on the data center revenue contribution. So what was the proportion in FY '26 full year and 4Q?
Okay. And then in your opening remarks, you said that this year, you expect moderate growth across product segments. So what would be moderated? Is it low double -digit, mid-teens, high single digit? And how should we think about that objective, moderate?
Thanks a lot. S ir, in the month of April and May, have you noticed any incremental weakness over the month of March for your short cycle orders because of the customer sentiment around war and fuel prices, etcetera?
Okay, sir. Good to know. And sir, my last question is on price hikes that you mentioned. So when you are t aking the price hike, are those hikes acceptable to customer a nd despite the price hike, are you able to kind of broadly maintain market share for the expected product?
Sir, my question is on this QCO. Could you elaborate a little more on what exactly is the nature of this QCO order, which is leading to higher imports? And how long this impact will continue before you adjust to the QCO fully?
So, very perversely, this order which was designed to promote Indian manufactured equipment is leading to higher imports. So, that is what I wanted to understand. So, as an industry, are you guys not representative of government than that it is serving the opposite purpose of whatever was intended?
Yes, sir. Thanks a lot. Sir, in first half, your consol net debt has gone up by almost Rs.10,000 crores versus the CAPEX of Rs.7,300 crores. So, two questions here. Is there some other cash usage in addition to the CAPEX that you have done in the first half? And the second thing is that obviously you are now embarking on very large CAPEX programs. So, what kind of debt -equity maximum or debt-to-EBITDA you will be comfortable with going ahead?
Okay. So, the 4x will be the upper limit, that is what you are trying to say, debt-to-EBITDA number, is that right understanding or you will even add on that?
Yes, sir. Sir, could you shed some light on plans of ordering new coal-based generation capacity in the rest of FY26, FY27 and FY28?
The ordering of new coal-based generation plants.
Sir, my first question is an industry level question. So , we have just seen 5 GWs of RE bids in the first half, and obviously we have been hearing about news of curtailment, etc. Slow power demand is now a reality. So, do you think that this is the new normal like 5, 10 GW more in the second half, or can we still achieve the ambitious target of 40, 50 GWs RE bidding on an annual basis?
And my second question is on Salboni project. So, fair to assume now that the boiler will be done in-house with the acquisition of GE Power boiler assets, right?
Yes, sir. And congratulations on hitting your targets of capacity expansion. I have two questions. The first one is again on the Sal boni project. Would it be possible to share some color on the PPA? Is it a regulated PPA or is it a completely bid PPA? And if it is the latter, then what are the kind of prices that they're looking at?
Okay and so I am assuming it will be under a two part tariff, fixed charges and energy charges.
Yes. Sir, thanks a lot and congrats on a very strong quarter yet again. Two questions. So, one is on the Private Sector order book in the domestic orders , I believe the proportion has increased to now 27%. Is all of it being driven by Power BTG orders only or are you seeing some upt ick in activity from any other sector on the private side?
Okay. Good to hear, sir. And the second question is on Others segments margin. There is quite a bit of an increase from 23%-odd to 33%. So, anything specific to call out here?
Sir, one question again on Hyderabad Metro. So, the PAT loss was 2.07 billion in this quarter. It looks like that it has trended down versus close to being 2. 7, 2.8 billion per quarter kind of number. So, is there any one -off or it is like a normal decline because of increasing the cash flows?
Okay, sir. And sir, now that the execution of the large hydrocarbon projects won last year has started, so is it tracking in line with whatever we expected in terms of margin performance and the speed of execution, etc. Asking because there has been a bit of a concern on very large exposure in Middle East and in the margins in those projects. Subramanian Sarma: Yeah, this is Sarma here again. Both those projects, of Rs. 40,000 crores, I think they are very much on track. In fact, as you speak, we are slightly ahead of schedule at this point in time. And we have made some significant commitments already with respect to cost commitments, in terms of supply and construction. So, far it looks good.
Thanks a lot and c ongratulations on very stro ng set of numbers. Sir, I have two questions on future order intake prospects. So the first is slightly longer term. I mean, if you could shed some color and light on what is the opportunity size that you are trying to address through all the R&D and the development efforts that you are making, say, over next 4, 5 years? I mean, there is a value of orders that you could be bidding for based on your capabi lities and R&D programs that you are undertaking. So that is a slightly longer-term question. And for FY '26, what will be the size of order intake? Or what is the prospects that you are bidding for?
And sir, this INR20,000 crores to INR30,000 crores TAM, it will be over what period of time broadly?
Sir, my question is on NGC program. Could you shed some color on the size of the orders that you could expect from this?
And sir, a follow - up question on exports again. Over past few months, we have seen European rearmament. And we are given to understand that you already have some relationship with various users in Europe in supplying components and all that. So are you seeing some kind of traction for supply for European rearmament from your side?
Yes. Sir, my question is slightly medium - term. Your revenues are now almost touching on an annual basis INR300 billion. And except for some of these larger orders, your order inflows are about INR270 billion. And even in this quarter, the order book was slightly stood down BHAMreucr / tON / cs slightly. So, thinking forward three years, four years out, can we sustain 15% plus revenue growth from this large base of revenue?
Great sir. And, sir, the last question is on margin. See, the margin performance has been very strong, even in this quarter, on a base of last year, where the margins were all 28% plus at the data level. So, can we see further margin ex pansion also over the next two years, three years, beyond 28%?