Concall — clean across the call.

We are pleased to inform you that we have delivered a growth in FY '25 with revenue from operations at Rs. <strong>676 crore</strong>s representing 16.4% year-on-year growth and EBITDA of Rs. 120.9 crores, demonstrating 7.2% year-on-year growth. The growth in revenues is primarily driven by increase in wallet share with existing clients and addition of products from new customers.

Our margin is slightly lower than the estimates by <strong>200 basis points</strong> because of the spillover of execution of new projects in aerospace and defense to Q1 FY '26. In FY '26, we look forward to a 25% growth in revenues on a conservative note, with 21% EBITDA margins plus/minus 100 basis points.

Notably, we have successfully executed proto units for various multinationals, and additionally we are also working on first articles for leading multinationals like Fluence, Weatherford, IAI, GE Healthcare, etc.. We have secured orders worth Rs. <strong>720 crore</strong>s in FY '25, for which Rs. 178 crores are from aerospace and defense which is a substantial improvement in this area and Rs. 349 crores of orders are from clean energy. In clean energy, we have delivered around Rs. 417 crores of revenues. The Company is presently working on increasing the wallet share with the cu stomer in FY '26 that is going to boost the revenues further in the vertical.

The Aerospace and Defense sector has witnessed significant progress in several key projects to ISRO, DRDO and MNC Aerospace including the successful delivery of ammunition boxes, engine components for various customers including Thales, GKN, Elbit Systems. We delivered around Rs. <strong>93 crore</strong>s of orders in this division. We anticipate a phenomenal growth of 80% from this sector in FY '26.

We have registered revenues of around Rs. <strong>19 crore</strong>s in Civil Nuclear sector in FY '25 as against Rs. 157 crores of closing orders. Kaiga 5 & 6 reactors orders have been placed on the private entity and we are expecting the orders soon as we are pre-qualified vendor for NPCIL. We have achieved a significant improvement in operating cash flows by generating cash flows of Rs. 101.3 crores in FY '25 as against Rs. 57.4 crores in FY '24. In addition, we have reduced our net working capital days to 229 days.