ADVAIT

Management Guidance & Outlook - Targeting to cross ₹1,000-1,100 Cr in revenue for FY27 (55%-60% YoY growth), backed by strong execution. - Long-term roadmap targets a ₹5,000 Cr top line over the next 5 years. - Group EBITDA margins targeted to sustain around 14%-15% as manufacturing contribution scales. - Shifting overall business mix from ~60% EPC currently to 70%-75% manufacturing by FY29. Order Book & Execution - Consolidated order book (including L1) stood at ~₹1,575 Cr as of September 30, 2026, marking a 47% YoY growth. - Executed ₹400 Cr worth of orders during H1 FY27. - Order book mix is currently 60%-65% PTS and ~35% NRE, expected to shift to a 50:50 ratio over the next 1.5 to 2 years. Capex & Manufacturing Expansions - Gangad, Gujarat integrated manufacturing facility (Phase 1) on track for commissioning by Q4 FY27. - 2.5 GWh BESS facility (expandable to 5 GWh) set to be operational by Q4 FY27, with estimated revenue potential of ₹1,000-1,100 Cr per GWh at 100% utilization. - Incurred ₹101 Cr capex in H1 FY27, with another ₹140 Cr planned in H2 FY27. - Setting up 150 MW electrolyser capacity operational by 2027 with revenue potential of ₹600-1,000 Cr, scalable up to 1 GW by FY29. New Energy & Growth Drivers - Secured 150 MW / 300 MWh standalone BESS order in Junagadh, Gujarat. - Signed a battery cell offtake agreement with HiTHIUM to support BESS capacity. - Actively engaged with 13+ domestic green hydrogen players via its 5 MW testing program.

Order Win: Advait Energy Transitions Limited won order from DAKSHIN GUJARAT VIJ COMPANY LTD. (DGVCL) Order Value: ₹62.05 Crore (incl taxes). Completion Timeline: 24 months (excluding monsoon period) after commencement period of 45 days.

Order Win: Advait Energy Transitions Limited won order from DAKSHIN GUJARAT VIJ COMPANY LTD. (DGVCL) Order Value: ₹69.53 Cr. Completion Timeline: 24 months

- CRISIL Ratings has reaffirmed the 'CRISIL A-/Stable' rating on long-term bank facilities and 'CRISIL A2+' rating on short-term bank facilities of Advait Energy Transitions Limited. - Total bank loan facilities rated have been enhanced from ₹405 crore to ₹675 crore. - Operating income grew to ₹714.80 crore in fiscal 2026, supported by a healthy order book of ₹1,447 crore as of August 2026. - The company plans a capital expenditure of ₹140 crore for BESS and ₹70 crore for setting up a gigafactory.

- Audio recording of Post Results Conference Call for Q2 and H1 ended September 30, 2026 held on November 2, 2026 has been made available. - Link to the recording has been uploaded on the company's official website.

- Advait Energy Transitions released its Q2 & H1 FY27 investor presentation. - Q2 FY27 Revenue grew 40.8% YoY to ₹220.94 Cr, while PAT surged 88.5% YoY to ₹19.18 Cr. - Operating EBITDA reached ₹31.94 Cr, up 84.4% YoY. - Order book stood at ₹1,574.8 Cr as of September 30, 2026.

- Q2 FY27 Consolidated Revenue rose 40.8% YoY to ₹220.9 crore. - EBITDA surged 84.4% YoY to ₹31.9 crore; EBITDA margin expanded 342 bps to 14.45%. - Profit After Tax jumped 88.5% YoY to ₹19.18 crore. - Total order book reached ₹1,574.83 crore (+47% YoY).

Q2 FY27 Standalone Revenue ₹170.06Cr vs ₹95.46Cr (▲78% YoY) EBITDA ₹28.06Cr vs ₹15.23Cr (▲84% YoY) PAT ₹17.10Cr vs ₹10.30Cr (▲66% YoY) EBITDA Margin 16.5% vs 16.0% (▲50bps) - Appointed Mr. Vimal Kishore Yadav as Chief Operating Officer (COO) - Approved acquisition of additional shares in subsidiaries AURA (holding up to 90%) and AGPL (holding up to 79.65%)

- Advait Energy Transitions Limited announced the outcome of its board meeting held on October 30, 2026. - Approved the appointment of Mr. Vimal Kishore Yadav as the Chief Operating Officer (COO) of the company.

Q2 FY27 Consolidated Revenue ₹220.94 Cr vs ₹156.87 Cr (▲41% YoY) EBITDA ₹31.94 Cr vs ₹17.32 Cr (▲84% YoY) PAT ₹19.18 Cr vs ₹10.18 Cr (▲89% YoY) EBITDA Margin 14.5% vs 11.0% (▲341bps)

Concall Schedule Concall Date: November 2, 2026 Concall Time: 11:00 AM IST

Advait Energy Transitions Limited announced that a consortium led by Eleven Power Private Limited, in which the company is a member, has been granted an electricity distribution licence by Herca. - The licence covers the Gurugram and Nuh revenue districts of Haryana. - Advait will contribute through product solutions in new and renewable energy segments.

Order Win: Advait Battery Ecosystems Pvt Ltd signed Master Supply Agreement with Hithium Order Value: Cell offtake of up to 1 GWh over the next year Completion Timeline: Next 1 year (supports upcoming 2.5 GWh BESS assembly facility)

- Order Win: Advait Battery Ecosystems Private Limited (ABEPL), a step-down subsidiary, secured a Master Supply Agreement with Hithium, a global energy storage manufacturer. - Order Value: Approximately $49.5 million (based on 1 GWh at $49.5/kWh). - Completion Timeline: Over the next year. - Details: For the supply of lithium iron phosphate (LFP) prismatic battery cells to support ABEPL's upcoming 2.5 GWh annual capacity Battery Energy Storage System (BESS) assembly facility.

- Investor/Analyst Meeting Schedule - Date: Thursday, September 24, 2026 - Event: JM Financial Environmental & Energy Conclave - Mode: Physical - Location: Mumbai

- Order Win: Advait Energy Transitions Limited won a turnkey contract from M/s MADHYA PRADESH POWER TRANSMISSION CO. LTD. (MPPTCL) for Design, Manufacturing & Supply of Emergency Restoration System (ERS) for EHV lines. - Order Value: ₹134.62 Crores (including taxes). - Completion Timeline: 18 Months.

- Sixteenth Annual General Meeting (AGM) of Advait Energy Transitions Limited will be held on Monday, September 21, 2026, at 12:30 p.m. via Video Conferencing/Other Audio-Visual Means (VC/OAVM). - Monday, September 14, 2026, is fixed as the Cut-off Date for e-voting and the Record Date for determining members eligible to receive dividend for the financial year 2025-26.

- Sixteenth Annual General Meeting (AGM) will be held on Monday, September 21, 2026, at 12:30 p.m. (IST) via Video Conferencing/OAVM. - The Annual Report for FY 2025-26 will be sent electronically. - Monday, September 14, 2026, is fixed as the Cut-off Date for voting eligibility and the Record Date for determining members eligible for dividend (if declared) for FY 2025-26.

- Order Win: Advait Greenergy Private Limited, a material subsidiary of Advait Energy Transitions Limited, won an order from KPI Green Energy Limited. - Order Value: ₹116 Crores (excl. taxes). - Order Description: Turnkey Contract for EPC Work for the 200 MW Solar Ground Mounted HSAT 33 KV Project at Bikaner, Rajasthan, including Design, Supplies, Services, Testing, and Commissioning. - Completion Timeline: 12 months.

- Order Win: Advait Energy Transitions Limited won order from Gujarat Energy Transmission Corporation Limited (GETCO) - Order Value: ₹24,88,10,504.80 - Completion Timeline: 8 Months

- Investor Presentation for Q1 FY27 (ended June 30, 2026) results. - Unexecuted Order Book (UOB) grew 97% YoY to ₹1,330 Cr as of June 30, 2026. - Expected orders inflow for FY27 is ₹1,600-1,650 Cr. - Highlights strong growth and expansion in energy transition.

- Consolidated Revenue ₹17,927.25 Lakhs vs ₹11,843.21 Lakhs (▲51.4% YoY) - EBITDA ₹2,477.31 Lakhs vs ₹1,374.57 Lakhs (▲80.2% YoY) - PAT ₹1,562.64 Lakhs vs ₹969.39 Lakhs (▲61.2% YoY) - EBITDA Margin 13.82% vs 11.61% (▲221bps)

- Consolidated Revenue ₹17,927.25 Lakhs vs ₹11,843.21 Lakhs (▲51.4% YoY) - EBITDA ₹2,640.73 Lakhs vs ₹1,636.94 Lakhs (▲61.3% YoY) - PAT ₹1,480.15 Lakhs vs ₹892.89 Lakhs (▲65.8% YoY) - EBITDA Margin 14.73% vs 13.82% (▲91bps) - Independent Director Mr. Ramesh Kumar Agrawal re-appointed for 5 years. September 14, 2026, set as record date for FY25-26 dividend and AGM voting. Increased KMP remuneration approved, subject to member approval.

- Board approved selling 80% stake in Advait Battery Ecosystems and Advait Carbon Advisory to Advait Greenergy for ₹80,000 each, making them step-down subsidiaries. - 7,376 employee stock options were also granted under ESOP 2022 at ₹10 per share.

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- Order Win: Advait Energy Transitions Limited won a turnkey contract from Paschim Gujarat Vij Company Ltd (PGVCL). - Order Value: ₹75,56,30,411.00 (including taxes). - Completion Timeline: 18 Months. - Details: Contract for conversion of existing 11 kV HT & LT Line Network into Underground Cable Network at Udyognagar - Porbandar Circle.

- Order Win: Advait Energy Transitions Limited won order from Paschim Gujarat Vij Company Ltd (PGVCL) - Order Value: ₹64.20 Cr. - Completion Timeline: 18 Months

- Order Win: Advait Energy Transitions Limited won a turnkey contract from Paschim Gujarat Vij Company Ltd (PGVCL) for conversion of existing 11 kV HT & LT Line Network into underground cable network with Ring Main System at Ranavav Subdivision of Porbandar Circle. - Order Value: ₹52,57,52,164.00 (incl taxes) - Completion Timeline: 18 months

- Order Win: Advait Energy Transitions Limited won a turnkey contract from Paschim Gujarat Vij Company Ltd (PGVCL). - Order Value: ₹58,25,31,158.00 (₹58.25 Crores) including taxes. - Completion Timeline: 18 Months.

- Order Win: Advait Energy Transitions Limited won a turnkey contract from Dakshin Gujarat Vij Co. Ltd. (DGVCL). - Order Value: ₹51,61,56,375.00 (approx. ₹51.62 Crores) including taxes. - Project Details: Turnkey Contract for Supply, Installation, Testing and Commissioning of 11KV 55mm2 AAAC Medium Voltage Covered Conductor (MVCC) with accessories and additional poles under the Vanbandhu Kalyan Yojana-2 (VKY-2) Scheme. - Completion Timeline: 15 Months.

- Trading window closed for Designated Persons and their immediate relatives from July 1, 2026. - Closure is ahead of financial results for the quarter ended June 30, 2026. - The window will reopen 48 hours after the financial results become generally available.

- Concall Schedule - Concall Date: June 30, 2026 - Mode of Interaction: Physical

- Promoter Mr. Shalin Sheth acquired 1,000,000 shares (9.14% of diluted share capital) of Advait Energy Transitions Limited from promoter Ms. Rejal Sheth through an inter-se transfer as a gift on June 16, 2026. - Post-acquisition, Mr. Shalin Sheth's holding increased from 51.20% to 60.34%. - Ms. Rejal Sheth's holding decreased from 14.88% to 5.74%.

- Promoters Rejal Sheth and Shalin Sheth reported an off-market inter-se transfer of shares on June 16, 2026. - Rejal Sheth sold 1,000,000 shares (9.14%), reducing her stake from 14.88% to 5.74%. - Shalin Sheth acquired 1,000,000 shares (9.14%), increasing his stake from 51.20% to 60.34%.

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- Advait Energy Transitions Limited reported strong financial performance for Q4 FY26 and full-year FY26, with significant year-on-year growth in revenue, EBITDA, and PAT. - The company's order book reached an all-time high of INR 1,304 crores, marking a 159% YoY growth, providing strong revenue visibility. - Management projects sustained revenue growth of 40%+ for the coming years, supported by the robust order book and tender pipeline. - Guidance for FY27 includes an expected 1% improvement in overall margins due to new manufacturing facilities becoming operational. - The Board recommended a dividend of INR 2 per equity share for FY26. - The company plans a capex of INR 300-350 crores for FY27, focusing on new manufacturing facilities for BESS (2.5 GWh) and electrolyzers (100 MW), expected to be operational by Q4 FY27. - The long-term credit rating was upgraded to CRISIL A-/stable. - Advait is actively investing in high-potential segments like green hydrogen, ammonia, ethanol, BESS, and C&I battery solutions, and has created dedicated subsidiaries for these businesses.