Revenue GrowthSustained ~22% top-line growth demonstrates expanding demand for grid and electrification solutions in India. Strong revenue expansion provides scale, supports longer-term service contracts from a larger installed base, and increases project pipeline visibility across multiple quarters.
Margin ImprovementMarked margin improvement reflects better cost control and a shift to higher-value projects or services. Higher gross and operating margins support durable operating leverage, enabling reinvestment in technology and after-sales capabilities that sustain profitability over the medium term.
Cash Generation & Low LeverageA large surge in free cash flow and minimal leverage provide strong financial flexibility. Robust cash generation funds capex, working capital and bidding for large projects while lowering refinancing risk, making the business more resilient across industry cycles.