E2E Networks (E2E) Q2 25/26 earnings summary

Executive summary

• GPU capacity reached ~3,900, supporting AI and ML cloud services; infrastructure includes four data centers across Tamil Nadu, Maharashtra and Delhi NCR.

• IndiaAI Mission allocations include INR 177 crore for 1.29 crore GPU hours over 360 days and INR 88 crore for 12 months.

• Chennai data center went live with 9 MW+1 MW capacity and support for up to 10,000 cloud GPUs.

• SilverTap asset acquisition and team integration are underway; Jarvis Labs AI asset purchase agreement remains subject to conditions precedent.

• L&T partnership established in 2024; platform identified as a preferred NVIDIA partner.

Financial highlights

• Q2 FY26 revenue from operations was ₹4,380.49 lakhs, down from ₹4,755.23 lakhs in Q1 FY26 and 7.9% YoY.

• Net loss was ₹1,849.20 lakhs, versus a ₹375.35 lakh loss in Q1 FY26 and a ₹2,966.92 lakh profit in H1 FY25.

• EBITDA was INR 180 Mn; EBITDA margin was 41.1%, down 2,501 bps YoY and up 1,197 bps QoQ.

• Total expenses were ₹7,060.02 lakhs, up from ₹5,485.93 lakhs in Q1 FY26.

• Basic and diluted EPS were negative ₹6.75 and ₹6.64, respectively.

Outlook and guidance

• Monthly revenue run rate reached INR 160 Mn in Sep-25, versus INR 145 Mn in Jun-25; guidance targets INR 35–40 crore monthly by March 2026, potentially earlier following AI orders.

• Targeting 80–90% utilization of current infrastructure by March; overall EBITDA margin guidance is 26%±.

• Planned priorities include GPU infrastructure and partnerships, AI-as-a-lab services and sector-specific enterprise cloud solutions.

• TIR offers pre-configured AI/ML environments, open-source model support, GPU acceleration and integrated ML tools; on-demand NVIDIA H200 and H100 access is also offered.