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Pace Digitek Limited — Annual Report 2026
May 25, 2026
60006_rns_2026-05-26_a4f32a42-87ff-4eaa-823f-54560610b7e6.pdf
Annual Report
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PACE DIGITEK
Pace Digitek Limited
(Formerly Known as Pace Digitek Private Limited and Pace Digitek Infra Private Limited)
Regd. Office: Plot No. V-12, Industrial Estate, Kumbalgodu, Mysore Highway, Bangalore - 560 074.
T: +91 80 29547792 / 94 / 95 / 96.
E: [email protected]
w: www.pacedigitek.com
CIN-L31909KA2007PLC041949
Ref No: PDL/2026-27/Q01_26
Date: May 25, 2026
| BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Fort Mumbai – 400001 Scrip Code – 544550 | National Stock Exchange of India Ltd Exchange Plaza, C-1, Block G Bandra Kurla Complex, Bandra (E) Mumbai – 400051 Symbol – PACEDIGITK |
|---|---|
Dear Sir/Madam,
Sub: Outcome of Board Meeting pursuant to Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Pursuant to Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the meeting of the Board of Directors of the Company was held on Monday, May 25, 2026 which commenced at 08:45 PM (IST) and concluded at 11:30 PM (IST) at the Registered Office of the Company inter alia to transact the following business:
- To consider and approve the Audited Standalone & Consolidated Financial Results of the Company for the Quarter and Financial Year ended March 31, 2026.
- To consider and approve the Independent Auditors Report received from the Statutory Auditors of the Company for the Quarter and Financial Year ended March 31, 2026 as enclosed herewith as Annexure A.
- Approved the appointment of Mr. Pramod S, Practicing Company Secretary as the Secretarial Auditor of the Company to conduct Secretarial Audit of the Company pursuant to Section 204 of the Companies act, 2013 for a period of 5 years till the Financial year Ended March 31, 2031
The details as required under Regulation 30 read with Schedule III of the SEBI Listing Regulations and SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 is enclosed as Annexure B.
We hereby request you to take note of the same.
Thanking You,
For PACE DIGITEK LIMITED
[Formerly known as Pace Digitek Private Limited and Pace Digitek Infra Private Limited]
Meghana Manchaiah Purushotham
Digitally signed by Meghana Manchaiah Purushotham
Date: 2026.05.25 23:51:23 +05'30'
Meghana M P
Company Secretary and Compliance Officer
Membership No: A42534
Add: Plot No. V-12, Industrial Estate, Kumbalgodu, Mysore Highway, Bangalore - 560 074.
Encl.: As Below
SS KOTHARI MEHTA & CO. LLP
CHARTERED ACCOUNTANTS
Indcpcndcnt Auditor’s Report on the Quarterly and Year to date audited Standalone Financial Results of Pace Digitek Limited (Formerly known as Pace Digitek Private Limited and Pace Digitek Infra Private Limited) Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
To
The Board of Directors
Pace Digitek Limited (Formerly known as Pace Digitek Private Limited and Pace Digitek Infra Private Limited)
Bangalore
Report on the audit of Standalone Annual Financial Results
Opinion
We have audited the accompanying standalone annual financial results of Pace Digitek Limited (Formerly known as Pace Digitek Private Limited and Pace Digitek Infra Private Limited) (hereinafter referred to as the “Company”) for the quarter and year ended March 31, 2026 (the “Statement”), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations”).
In our opinion and to the best of our information and according to the explanations given to us, the Statement:
i. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
ii. gives a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards (“Ind AS”) prescribed under section 133 of the Companies Act, 2013 (the Act), and other accounting principles generally accepted in India of the net profit and other comprehensive income and other financial information of the Company for the quarter and year ended March 31, 2026.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Act, as amended (“the Act”). Our responsibility under those standards are further described in the “Auditor’s Responsibilities for the Audit of the Annual Standalone Financial Results” section of our audit report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion on the Statement.
Management’s and Board of Director’s Responsibilities for the Standalone Annual Financial Results
The Statement has been prepared on the basis of the standalone annual financial statements. The Company’s Management and Board of Directors of the Company are responsible for the preparation and presentation of the Statement that gives a true and fair view of the net profit and other comprehensive income of the Company and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities;
Plot No. 68, Okhla industrial Area, Phase-III, New Delhi-110020
Tel: +91-11-4670 8888 E-mail: [email protected]
www.sskmin.com
S S KOTHARI MEHTA & CO. LLP
CHARTERED ACCOUNTANTS
selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the Statement, the Board of Directors are responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the board of directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
The Board of Directors are also responsible for overseeing the Company’s financial reporting process.
Auditor’s Responsibilities for the Audit of the Standalone Annual Financial Results
Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the Statement.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of standalone financial statements on whether the Company has adequate internal financial controls with reference to standalone financial statements in place and the operating effectiveness of such controls.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made in the Statement by the management and Board of Directors.
- Conclude on the appropriateness of the Board of Directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Plot No. 68, Okhla Industrial Area, Phase-III, New Delhi-110020
Tel: +91-11-4670 8888 E-mail: [email protected]
www.sskmin.com
SS KOTHARI MEHTA & CO. LLP
CHARTERED ACCOUNTANTS
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
Other matters
- The Statement includes the results for the quarter ended March 31, 2026 being the balancing figure between the audited figures in respect of the full financial year ended March 31, 2026 and the published unaudited year-to-date figures up to the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.
- The Statement includes the unaudited standalone financial results/information for the corresponding quarter ended March 31, 2025, which have been approved by the Company’s Board of Directors but have not been subjected to review by us.
Our opinion on the Statement is not modified in respect of above matters.
For S S Kothari Mehta & Co. LLP
Chartered Accountants
Firm’s Registration No. 000756N/N500441
AMIT GOEL
Digitally signed by AMIT GOEL
Date: 2026.05.25
22:11:56 +05'30'
AMIT GOEL
Partner
Membership No. 500607
Place: Bengaluru
Date: May 25, 2026
UDIN: 26500607UGYGLG8340
Plot No. 68, Okhla industrial Area, Phase-III, New Delhi-110020
Tel: +91-11-4670 8888 E-mail: [email protected]
www.sskmin.com
| Pace Digitek Limited (Formerly known as Pace Digitek Private Limited and Pace Digitek Infra Private Limited) Registered Office: Plot # V 12, Industrial Estate, Kumbalgodu, Bangalore Mysore Highway, Bangalore, Karnataka, India, 560074 CIN: L31909KA2007PLC041949 Statement of Standalone Audited Financial Results for the quarter and year ended March 31, 2026 (Amounts are ₹ in million unless otherwise stated) | |||||
|---|---|---|---|---|---|
| Particulars | Quarter ended | Year ended March 31, 2025 | Year ended March 31, 2025 [Audited] | ||
| March 31, 2026 (Audited) (Refer note-11) | December 31, 2025 (Un-Audited) | March 31, 2025 (Un-Audited) (Refer note-3) | |||
| I. Income : | |||||
| (a) Revenue from operations | 4,870.37 | 5,419.95 | 6,199.87 | 17,108.08 | 22,710.96 |
| (b) Other income | 168.00 | 163.66 | 169.80 | 468.67 | 382.23 |
| Total income (I) | 5,038.37 | 5,583.61 | 6,369.67 | 17,576.75 | 23,093.19 |
| II. Expenses: | |||||
| (a) Cost of materials consumed | 2,114.12 | 1,139.62 | 2,216.95 | 3,519.68 | 8,959.37 |
| (b) Engineering, procurement and construction project expenses | 1,639.48 | 1,971.16 | 2,812.12 | 7,965.60 | 8,411.45 |
| (c) Purchases of stock-in-trade | - | 740.25 | - | 747.02 | - |
| (d) Employee benefits expense | 213.23 | 200.50 | 148.23 | 764.29 | 543.20 |
| (e) Finance costs | 151.99 | 33.32 | 65.28 | 322.28 | 1,109.79 |
| (f) Depreciation and amortisation expense | 25.05 | 26.24 | 10.25 | 72.90 | 33.76 |
| (g) Other expenses | 200.83 | 224.86 | 100.44 | 730.14 | 843.21 |
| Total expenses (II) | 4,344.70 | 4,335.95 | 5,353.27 | 14,121.91 | 19,900.78 |
| III. Profit before tax for the Period / Year (I-II)=III | 693.67 | 1,247.66 | 1,016.40 | 3,454.84 | 3,192.41 |
| IV. Tax expense: | |||||
| (a) Current tax | 237.14 | 318.32 | 255.88 | 945.08 | 953.65 |
| (b) Deferred tax charge/ (credit) | 46.11 | (3.60) | (0.93) | 40.72 | (126.16) |
| (c) Taxes relating to earlier years | 4.24 | - | - | 4.24 | 31.61 |
| Total tax expense (IV) | 287.49 | 314.72 | 254.95 | 990.04 | 859.10 |
| V. Profit after tax for the Period / Year (III-IV)= V | 406.18 | 932.94 | 761.45 | 2,464.80 | 2,333.31 |
| VI. Other comprehensive income/(loss) for the Period / Year : | |||||
| (i) Remeasurement of defined benefit plan gain/(loss) | 3.42 | (0.36) | 0.16 | 2.86 | 0.62 |
| (ii) Income tax relating to these items | (0.86) | 0.09 | (0.04) | (0.72) | (0.16) |
| Total other comprehensive income/(loss) for the Period / Year (net of tax) | 2.56 | (0.27) | 0.12 | 2.14 | 0.46 |
| VII Total comprehensive income for the Period / Year (V+VI)=VII | 408.74 | 932.67 | 761.57 | 2,466.94 | 2,333.77 |
| VIII. Paid up equity share capital( Face value of Rs 2/-Each) | 431.70 | 431.70 | 356.88 | 431.70 | 356.88 |
| IX Other equity | 19,272.52 | 9,477.77 | |||
| X Earnings per share not annualised (Rs.) (face value of Rs. 2 per share): | |||||
| Basic (Rupee) | 2.06 | 4.74 | 4.27 | 12.52 | 14.21 |
| Diluted (Rupee) | 2.06 | 4.74 | 4.27 | 12.52 | 14.21 |
Pace Digitek Limited
(Formerly known as Pace Digitek Private Limited and Pace Digitek Infra Private Limited)
Registered Office: Plot # V 12, Industrial Estate, Kumbalgodu, Bangalore Mysore Highway, Bangalore, Karnataka, India, 560074
CIN: L31909KA2007PLC041949
Statement of Audited Standalone Assets and Liabilities as at March 31, 2026
(Amounts are ₹ in million unless otherwise stated)
| Particulars | As at March 31, 2026 (Audited) | As at March 31, 2025 (Audited) |
|---|---|---|
| Assets | ||
| Non-current assets | ||
| (a) Property, plant and equipment | 1,076.96 | 1,001.62 |
| (b) Capital work in progress | 382.85 | 320.85 |
| (c) Investment property | 336.66 | 17.87 |
| (d) Right-of-use assets | 201.98 | 8.33 |
| (e) Other intangible assets | 272.08 | 287.02 |
| (f) Financial assets | ||
| (i) Investments | 5,125.11 | 126.56 |
| (ii) Trade receivables | 3,756.26 | 2,946.06 |
| (iii) Loans | - | - |
| (iv) Other financial asset | 1,317.60 | 1,301.05 |
| (g) Deferred tax assets (net) | 109.09 | 150.31 |
| (h) Non current tax assets (net) | 23.90 | 30.32 |
| (i) Other non-current assets | 386.42 | 161.03 |
| Total non-current assets | 12,988.91 | 6,351.02 |
| Current assets | ||
| (a) Inventories | 724.56 | 440.29 |
| (b) Financial assets | ||
| (i) Trade receivables | 15,996.09 | 11,494.70 |
| (ii) Cash and cash equivalents | 458.98 | 753.10 |
| (iii) Bank balances other than (ii) above | 3,113.11 | 982.73 |
| (iv) Loans | 448.46 | - |
| (v) Other financial assets | 2,032.96 | 2,416.95 |
| (c) Other current assets | 2,408.52 | 995.93 |
| Total current assets | 25,182.68 | 17,083.70 |
| Total assets | 38,171.59 | 23,434.72 |
| Equity and liabilities | ||
| Equity | ||
| (a) Equity share capital | 431.70 | 356.88 |
| (b) Other equity | 19,272.52 | 9,477.77 |
| Total equity | 19,704.22 | 9,834.65 |
| Liabilities | ||
| Non current liabilities | ||
| (a) Financial liabilities | ||
| (i) Borrowings | 74.31 | 128.86 |
| (ii) Lease liabilities | 198.20 | 4.52 |
| (iii) Other financial liabilities | 5.03 | 1.80 |
| (b) Provision | 127.46 | 135.62 |
| (c) Other non-current liabilities | 316.41 | - |
| Total non-current liabilities | 721.41 | 270.80 |
| Current liabilities | ||
| (a) Financial liabilities | ||
| (i) Borrowings | 1,646.26 | 1,254.15 |
| (ii) Lease liabilities | 4.35 | 3.92 |
| (iii) Trade payables | ||
| -Total outstanding dues of micro and small enterprises | 139.65 | 131.15 |
| -Total outstanding dues of creditors other than micro and small enterprises | 13,002.18 | 10,238.89 |
| (iv) Other financial liabilities | 635.64 | 588.99 |
| (b) Other current liabilities | 1,655.14 | 182.63 |
| (c) Provisions | 212.07 | 166.95 |
| (d) Current tax liabilities (net) | 450.67 | 762.59 |
| Total current liabilities | 17,745.96 | 13,329.27 |
| Total liabilities | 18,467.37 | 13,600.07 |
| Total equity and liabilities | 38,171.59 | 23,434.72 |
Pace Digitek Limited
(Formerly known as Pace Digitek Private Limited and Pace Digitek Infra Private Limited)
Registered Office: Plot # V 12, Industrial Estate, Kumbalgodu, Bangalore Mysore Highway, Bangalore, Karnataka, India, 560074
CIN: L31909KA2007PLC041949
Statement of Audited Standalone Statement of Cash Flows for the year ended March 31, 2026
(Amounts are ₹ in million unless otherwise stated)
| Particulars | For the year ended March 31, 2026 (Audited) | For the year ended March 31, 2025 (Audited) |
|---|---|---|
| A. Cash flows from operating activities: | ||
| Profit before tax | 3,454.84 | 3,192.41 |
| Adjustments for: | ||
| Depreciation and amortisation expense | 72.90 | 33.76 |
| Finance costs | 321.45 | 1,109.79 |
| Interest on lease liabilities | 0.83 | 1.03 |
| Other interest income | (0.97) | - |
| Gain on sale of property, plant and equipment | (0.39) | - |
| Fair value of investment in optional convertible debentures | (57.96) | - |
| Interest income on loan | (22.36) | - |
| Interest income of security deposit | 1.10 | (2.18) |
| Interest received on corporate guarantee | (8.58) | - |
| Loss allowance/(Reversal) of expected credit loss | 105.89 | (9.56) |
| Bad debts written off | 3.09 | 24.36 |
| Balance written off | 0.05 | 28.80 |
| Interest income | (205.07) | (150.40) |
| Rental income | (62.74) | (6.93) |
| Operating cash flow before changes in operating assets and liabilities | 3,602.07 | 4,221.08 |
| Movements in working capital: | ||
| (Increase)/decrease in trade receivables | (5,420.55) | (7,761.75) |
| (Increase)/decrease in loan | (448.46) | 2.54 |
| (Increase)/decrease in other financial assets | 374.91 | (22.27) |
| (Increase)/decrease in other current assets | (1,739.95) | 293.87 |
| (Increase)/decrease in inventories | (284.27) | 714.98 |
| (Decrease)/increase in trade payables | 2,771.80 | 2,002.25 |
| (Decrease)/increase in other financial liabilities | 49.87 | (339.39) |
| (Decrease)/increase in provisions | 39.09 | 244.25 |
| (Decrease)/increase in other liabilities | 1,788.92 | 71.15 |
| Cash generated from operations | 733.42 | (573.29) |
| Income taxes paid (net of refunds) | (1,353.42) | (586.54) |
| Net cash generated/(used in) from operating activities (A) | (620.00) | (1,159.82) |
| B. Cash flows from investing activities | ||
| Acquisition of property, plant and equipment | (388.57) | (261.16) |
| Acquisition of investment property | (318.80) | 0.92 |
| Investment in equity shares of subsidiary Company | (1,790.59) | - |
| Investment in optional convertible debentures of subsidiary Company | (3,150.00) | - |
| Rent received | 62.74 | 6.93 |
| Investment in /proceeds from fixed deposits | (2,130.38) | 1,939.24 |
| Interest received on investments | 227.43 | 200.08 |
| Net cash (used in)/from investing activities (B) | (7,488.17) | 1,886.01 |
| C. Cash flows from financing activities: | ||
| Repayment of long term borrowings | (81.09) | (453.61) |
| (Repayment)/proceeds of short term borrowings | 418.67 | (2,953.28) |
| Proceeds from issue of equity shares (net of issue expenses) | 7,402.64 | 3,626.36 |
| Proceeds/ (payment) of lease liabilities | 193.28 | (4.18) |
| Finance cost paid | (119.44) | (1,109.79) |
| Net cash generated from/ (used in) financing activity | 7,814.06 | (894.50) |
| Net increase/ (decrease) in cash and cash equivalents (A+B+C) | (294.11) | (168.30) |
| Cash and cash equivalents at the beginning of the year | 753.10 | 921.39 |
| Cash and cash equivalents at the end of the year | 458.98 | 753.10 |
| Components of cash and cash equivalents at the end of the year | ||
| (a) Balances with banks | ||
| In current accounts | 458.91 | 753.03 |
| (b) Cash on hand | 0.07 | 0.07 |
| Total cash and cash equivalents | 458.98 | 753.10 |
Notes to the Audited Standalone Financial Results for the quarter and year ended March 31, 2026
-
The above audited standalone financial results of the Company for the quarter and year ended March 31, 2026 have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meeting held on May 25, 2026. These results have been audited by the statutory auditors of the Company under Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
-
These audited standalone financial results of the Company have been prepared in accordance with the Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013, read with the Companies (Indian Accounting Standard) Rules, 2015, as amended.
-
The figures for the quarter ended March 31, 2025, have not been subjected to audit or review by statutory auditors. However, the management has exercised due care and diligence to ensure that the standalone audited financial results for the said year present a true and fair view of the Company's financial performance and financial position.
-
Where financial results contain both consolidated financial results and standalone financial results of the Company, segment information is required to be presented only in the consolidated financial results. Accordingly, segment information has been presented in the consolidated financial results as per the requirement of Ind AS-108 "Operating Segments".
-
Details of revenue from operation composition are as follows:
| Particulars | For the quarter ended | For the year ended | |||
|---|---|---|---|---|---|
| March 31, 2026 | December 31, 2025 | March 31, 2025 | March 31, 2026 | March 31, 2025 | |
| Audited | Unaudited | Unaudited | Audited | Audited | |
| Revenue Breakup | |||||
| Engineering, procurement and construction project (EPC) | 1,826.23 | 4,119.22 | 6,595.42 | 14,570.97 | 23,762.31 |
| Services | 425.32 | 238.08 | 141.21 | 795.52 | 330.85 |
| Products | 8,359.87 | 30.91 | 96.05 | 8,489.54 | 294.64 |
| Stock-in-trade | 356.37 | 2,051.46 | - | 2,556.68 | - |
| Total | 10,967.79 | 6,439.66 | 6,832.68 | 26,412.70 | 24,387.80 |
- During the year ended March 31, 2026, the Company has completed its Initial Public Offer (IPO) of Rs. 8,191.48 million out of which 3,74,09,047 number of equity shares with face value of Rs. 2 each. (The issue comprises a fresh issue of 3,73,35,967 number of equity shares at a premium of Rs. 217 per equity share and 55,080 equity shares reserved for eligible employees at a premium Rs. 197 per equity share (i.e., at a discount of Rs. 20 per equity share on issue price). Pursuant to the IPO, the equity shares of the company are listed on the National Stock Exchange ("NSE") and Bombay Stock Exchange ("BSE") on 06 October 2025.
- The total proceeds from issue of shares consisted of IPO proceeds of Rs. 8,191.48 million. The offer expenses (estimated) amounted to Rs. 733.14 million leaving a net proceeds Rs. 7,458.34 million. The details of objects of issue and its utilized/unutilized portion is as follows:
| Object of the issue as per prospectus | Amount to be utilized as per prospectus (net proceeds) | Utilized amount upto March 31, 2026 (refer note a) | Unutilized amount upto March 31, 2026 |
|---|---|---|---|
| Funding Capital Expenditure requirements for investment in the Subsidiary of the Company i.e., Pace Renewable Energies Private Limited, for setting up battery energy storage systems for a project awarded by the Maharashtra State Electricity Distribution Company Limited (Capital Expenditure) | 6,300.00 | 4,172.72 | 2,127.28 |
| General Corporate Purpose | 1,158.84 | 1,149.61 | 8.73 |
| Share issue expenses | 733.14 | 712.42 | 20.72 |
| Total | 8,191.48 | 6,034.75 | 2,156.72 |
a) The amount utilized during the current period is based on the fund utilization certificate issued by independent chartered accountant dated May 09, 2026 and report issued by monitoring agency i.e. Crisil rating limited dated May 12, 2026.
b) The unutilized amounts are lying in bank account of Rs. 2,156.72 million that includes the fund lying in the bank account of Rs. 963 million of subsidiary i.e. Pace Renewable Energies Private Limited.
- During the year,
a) the Company has acquired the entire Equity Share capital of Pace Renewable Energies Private Limited (PREPL) from its existing promoters, resulting in PREPL becoming a wholly owned subsidiary of the Company.
b) the Company subscribed to 3,15,00,000 Optionally Convertible Debentures ("OCDs") having a face value of ₹100 each aggregating to Rs 3,150 million, pursuant to the Optionally Convertible Debentures Agreement dated September 8, 2025, entered into with PREPL.
c) the Company subscribed to 2,77,77,777 Equity Shares pursuant to the rights issue of PREPL having a face value of ₹10 each at a premium of ₹ 53 per share aggregating to Rs 1,750 million, in accordance with the Share Subscription Agreement dated September 8, 2025, entered into with PREPL.
The funds raised by PREPL will be utilised for setting up Battery Energy Storage Systems for a project awarded by the Maharashtra State Electricity Distribution Company Limited (MSEDCL), towards capital expenditure. Till March 31, 2026, PREPL has incurred the capital expenditure for the project of Rs. 4,172.72 million as mentioned in point no. 6 above.
-
During the year, the Company has incorporated the following subsidiaries: Transgreenx Energy Private Limited on November 22, 2025, Lineage Defence and Aerospace Private Limited on December 23, 2025, Pace Ecoplanet Solace Private Limited on January 05, 2026, and CSR trust in the name of Pace foundation on dated December 11, 2025; and one Step Down subsidiary: Pace KR Solar BESS Private Limited on February 26, 2026.
-
The Government of India vide notification w.e.f November 21, 2025 has consolidated multiple existing legislations into a unified framework comprising four Labour Codes collectively referred 10 as the New Labour Codes. As per Ind AS 19 'Employees Benefit', changes to employee benefit plans arising from legislative amendments constitute a planned amendment, requiring recognition of past service cost immediately in the statement of profit and loss. The calculated financial impact due to introduction of new labour codes has been taken in these financial results.
-
The Statement includes the results for the quarter ended March 31, 2026 being the balancing figures between the audited figures in respect of the financial year ended March 31, 2026, and the published unaudited year-to-date figures up to the end of the third quarter of the current financial year, which were subjected to limited review.
-
Previous year figures have been regrouped / reclassified wherever necessary to conform to the current period/year classification.
-
The results for the quarter and year ended March 31, 2026 are available on the Company's website at www.pacedigitek.com and also on the website of BSE Limited at www.bseindia.com and National Stock Exchange of India Limited at www.nseindia.com, where the shares of the Company are listed.
For and on behalf of the Board of Directors of Pace Digitek Limited
(Formerly known as Pace Digitek Private Limited and Pace Digitek Infra Private Limited)
MADDISETTY
VENUGOPAL
RAO
Digitally signed by
MADDISETTY VENUGOPAL
RAO
Date: 2026.05.25 23:50:05
+05'30"
Venugopalrao Maddisetty
Managing Director
DIN-02070491
Place: Bangalore
Date: May 25, 2026
SS KOTHARI MEHTA
& CO. LLP
CHARTERED ACCOUNTANTS
Independent Auditors' Report on the Quarterly and Year to date audited Consolidated Financial Results of Pace Digitek Limited (Formerly known as Pace Digitek Private Limited and Pace Digitek Infra Private Limited) Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended
To
The Board of Directors of
Pace Digitek Limited (Formerly known as Pace Digitek Private Limited and Pace Digitek Infra Private Limited)
Bangalore
Report on the audit of the Consolidated Annual Financial Results
Opinion
We have audited the accompanying consolidated annual financial results of Pace Digitek Limited (Formerly known as Pace Digitek Private Limited and Pace Digitek Infra Private Limited) (hereinafter referred to as the 'Parent Company') and its subsidiaries (including step down subsidiary) (the Parent Company and its subsidiaries including step down subsidiary together referred to as "the Group") for the quarter and year ended March 31, 2026 ("the Statement"), attached herewith, being submitted by the Parent Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").
In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of the reports of the other auditors on separate audited financial statements of the subsidiaries including step-down subsidiary and management certified financial statements/results of the one subsidiary, the Statement:
i. includes the annual financial results of the following entities as given below:
| Name of entity | Relationship |
|---|---|
| Pace Digitek Limited (Formerly known as Pace Digitek Private Limited and Pace Digitek Infra Private Limited) | Parent Company |
| Lineage Power Private Limited | Subsidiary |
| Pace Renewable Energies Private Limited | Subsidiary |
| AP Digital Infra Private Limited (struck off w.e.f January 20, 2026 | Subsidiary |
| Inso Pace Private Limited | Subsidiary |
| Lineage Power Holdings (Singapore) Pte Limited | Subsidiary |
| TransGreenx Energy Private Limited (Incorporated on November 22, 2025) | Subsidiary |
| Lineage Defence And Aerospace Private Limited (Incorporated on December 23, 2025) | Subsidiary |
| Pace Ecoplanet Solace Private Limited (Incorporated on January 05, 2026) | Subsidiary |
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SS KOTHARI MEHTA & CO. LLP
CHARTERED ACCOUNTANTS
| Lineage Power Myanmar Limited | Step-Down
Subsidiary |
| --- | --- |
ii. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
iii. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards (“Ind AS”) prescribed under section 133 of the Companies Act, 2013 (the Act), and other accounting principles generally accepted in India, of consolidated net profit and other comprehensive income and other financial information of the Group for the quarter and year ended March 31, 2026.
Basis of Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs), as specified under Section 143(10) of the Act, as amended (“the Act”). Our responsibilities under those Standards are further described in the “Auditor’s Responsibilities for the Audit of the Consolidated Financial Results” section of our report. We are independent of the Group in accordance with the ‘Code of Ethics’ issued by the Institute of Chartered Accountants of India (ICAI) together with the ethical requirements that are relevant to our audit of the consolidated financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us, along with the consideration of audit report of the other auditors referred to in “Other Matters” paragraph below and information provided by the Company for management certified financial statements/results, is sufficient and appropriate to provide a basis for our opinion on the Statement.
Management’s and Board of Directors’ Responsibilities for the Consolidated Financial Results
The Statement has been prepared on the basis of the consolidated annual financial statements. The Parent Company’s Management and Board of Directors are responsible for the preparation and presentation of the Statement that give a true and fair view of the consolidated net profit and other comprehensive income and other financial information of the Group in accordance with the accordance with the recognition and measurement principles laid down in Indian Accounting. Standards prescribed under section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respective Board of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of their respective companies included in the Group and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the Statement by the directors of the Parent Company, as aforesaid.
In preparing the Statement, the Board of Directors of the companies included in the Group are responsible for assessing the ability of their respective company included in the Group to continue as
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SS KOTHARI MEHTA & CO. LLP
CHARTERED ACCOUNTANTS
a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.
The Board of Directors of the companies included in the Group are also responsible for overseeing the financial reporting process of their respective companies included in the Group.
Auditor’s Responsibilities for the Audit of the Consolidated Annual Financial Results
Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the Statement.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of consolidated financial statements on whether the Group has adequate internal financial controls with reference to consolidated financial statements in place and the operating effectiveness of such controls.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the board of directors.
- Conclude on the appropriateness of the board of directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Group to cease to continue as a going concern.
- Evaluate the overall presentation, structure, and content of the Statement, including the disclosures, and whether the Statement represent the underlying transactions and events in a manner that achieves fair presentation.
- Obtain sufficient appropriate audit evidence regarding the financial results/financial information of the entities within the Group of which we are the independent auditors to express an opinion on the Statement. We are responsible for the direction, supervision, and performance of the audit of the financial information of such entities included in the
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SS KOTHARI MEHTA & CO. LLP
CHARTERED ACCOUNTANTS
Statement of which we are the independent auditors. For the other entities included in the Statement, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.
We communicate with those charged with governance of the Parent Company and such other entities included in the consolidated annual financial results of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable.
Other Matters
a. The Statement include the audited financial results/ other information, in respect of 2 subsidiaries (including 1 step down subsidiary), whose Financial Statements reflect total assets (before consolidation adjustment) of Rs. 31.70 million as at March 31, 2026, total revenue (before consolidation adjustment) of Rs. 17.01 million and Rs. 37.81 million and total net (loss) after tax (before consolidation adjustment) of Rs. (14.29) million and Rs. (9.35) million, total comprehensive income (before consolidation adjustment) of Rs. Nil million and Rs. 1.11 million for the quarter and year ended March 31, 2026 respectively and net cash inflows of Rs. 4.63 million for the year ended March 31, 2026, which have been audited by their respective independent auditors. The independent auditors' reports on the financial statements/ financial results/ financial information of above subsidiaries including step down subsidiary have been furnished to us and our opinion on the Statement in so far as it relates to the amounts and disclosures included in respect of these subsidiaries including step down subsidiary, is based solely on the reports of such auditors and the procedures performed by us as stated in paragraph above.
Further, one step down subsidiary included above is located outside India, whose annual financial statements have been prepared in accordance with accounting principles generally accepted in their respective country. The Parent Company's management has converted the financial statements of this step down subsidiary from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India. We have audited these conversion adjustments made by the Parent Company's management. Our opinion, in so far as it relates to the amounts and disclosures included in respect of this subsidiary, is based on the audit report of other auditors/management certified accounts and the conversion adjustments prepared by the management of the Parent Company and audited by us.
b. The Statement include the unaudited financial result of one subsidiary whose financial information reflect total assets (before consolidation adjustment) of Rs. 3.50 million as at March 31, 2026, total revenue (before consolidation adjustment) of Rs. Nil and Rs. Nil million and total net profit/(loss) after tax (before consolidation adjustment) of Rs. 1.85 million and Rs. (1.78)
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SS KOTHARI MEHTA & CO. LLP
CHARTERED ACCOUNTANTS
million, total comprehensive income (before consolidation adjustment) of Rs. (0.31) million and (0.31) million for the quarter and year ended March 31, 2026 respectively and net cash outflow of Rs. Nil for the year ended March 31, 2026. This unaudited financial information has been furnished to us by the Board of Directors and our opinion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this subsidiary is based solely on such unaudited financial information certified by the management. This subsidiary is not considered material to the Groups
Our opinion on the Statement is not modified in respect of the above matters as mentioned in para (a) and (b) above with respect to our reliance on the work done and the reports of respective independent auditors and the financial information certified by the Board of Directors.
c. The Statement includes the consolidated results for the quarter ended March 31, 2026 being the balancing figures between the audited figures in respect of the full financial year ended March 31, 2026 and the published unaudited year-to-date figures up to the end of the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.
d. The Statement includes the unaudited standalone financial results/information's for the corresponding quarter ended March 31, 2025, as reported in the accompanying Statements which have been approved by the Company's Board of Directors but have not been subjected to our review.
Our opinion on the Statement is not modified in respect of the above matter.
For S S Kothari Mehta & Co. LLP
Chartered Accountants
Firm's Registration No. 000756N/N500441
AMIT GOEL
Digitally signed by
AMIT GOEL
Date: 2026.05.25
22:10:48 +05'30'
AMIT GOEL
Partner
Membership No. 500607
Place: Bengaluru
Date: May 25, 2026
UDIN: 26500607VGRDAT7186
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Page 5 of 5
| Pace Digitek Limited (Formerly known as Pace Digitek Private Limited and Pace Digitek Infra Private Limited) Registered Office: Plot # V 12, Industrial Estate, Kumbulgodu, Bangalore Mysore Highway, Bangalore, Karnataka, India, 560074 CIN: L31909KA2007PLC041949 Statement of Audited Consolidated Financial Results for the quarter and year ended March 31, 2026 (Amounts are ₹ in million unless otherwise stated) | |||||
|---|---|---|---|---|---|
| Particulars | Quarter ended | Year ended | |||
| March 31, 2026 (Audited) (Refer note-9) | December 31, 2025 (Un-Audited) | March 31, 2025 (Un-Audited) (Refer note-4) | March 31, 2026 (Audited) | March 31, 2025 (Audited) | |
| Income: | |||||
| (a) Revenue from operations | 10,967.79 | 6,439.66 | 6,832.68 | 26,412.70 | 24,387.80 |
| (b) Other income | 201.53 | 101.82 | 73.66 | 461.08 | 234.22 |
| Total income (I) | 11,169.32 | 6,541.48 | 6,906.34 | 26,873.78 | 24,622.02 |
| Expenses: | |||||
| (a) Cost of materials consumed | 6,414.71 | 919.84 | 1,938.39 | 8,384.23 | 7,180.57 |
| (b) Engineering, procurement and construction project expenses | 1,755.67 | 2,012.27 | 3,461.05 | 8,807.61 | 9,156.38 |
| (c) Purchases of stock-in-trade | 321.69 | 1,920.72 | 47.15 | 2,783.69 | 47.15 |
| (d) Changes in inventories | (15.24) | (104.72) | 86.84 | (328.21) | 850.97 |
| (e) Employee benefits expense | 271.78 | 249.05 | 173.49 | 959.00 | 667.13 |
| (f) Finance costs | 342.87 | 92.68 | 68.96 | 598.23 | 1,151.50 |
| (g) Depreciation and amortisation expense | 32.28 | 45.98 | 15.46 | 120.04 | 60.49 |
| (h) Other expenses | 587.43 | 263.16 | 363.09 | 1,253.90 | 1,668.54 |
| Total expenses (II) | 9,711.19 | 5,398.98 | 6,154.43 | 22,578.49 | 20,782.73 |
| Profit before tax for the Period / Year (I-II)=III | 1,458.13 | 1,142.50 | 751.91 | 4,295.29 | 3,839.29 |
| Tax expense: | |||||
| (a) Current tax expense | 278.96 | 372.57 | 263.58 | 1,125.18 | 1,146.33 |
| (b) Deferred tax (credit)/charge | 112.81 | (17.86) | (74.79) | 90.32 | (171.54) |
| (c) Taxes relating to earlier years | 7.15 | - | - | 7.15 | 73.48 |
| Total tax expense (IV) | 398.92 | 354.71 | 188.79 | 1,222.65 | 1,048.27 |
| Profit after tax for the Period / Year (III-IV)=V | 1,059.21 | 787.79 | 563.12 | 3,072.64 | 2,791.02 |
| Other comprehensive income/(loss) for the Period / Year : | |||||
| A. Items that will not be reclassified to profit or loss | |||||
| (i) Remeasurement of defined benefit plans gain/(loss) | (2.08) | (0.67) | 0.05 | (4.71) | 0.19 |
| (ii) Income tax relating to these items | 0.52 | 0.17 | (0.01) | 1.18 | (0.05) |
| B. Items that will be reclassified to profit or loss | |||||
| (i) Exchange differences on translation of foreign operations | 0.58 | 0.08 | 0.13 | 0.80 | 0.53 |
| Total other comprehensive income/(loss) for the Period / Year (net of tax) | (0.98) | (0.42) | 0.17 | (2.73) | 0.67 |
| VI. Total comprehensive income for the period / Year (V+VI) | 1,058.23 | 787.37 | 563.29 | 3,069.91 | 2,791.69 |
| VII. Profit for the year attributable to : | |||||
| Owners of the Company | 991.62 | 758.42 | 572.31 | 2,975.68 | 2,676.08 |
| Non-controlling interest | 67.59 | 29.37 | (9.19) | 96.96 | 114.94 |
| Profit after tax for the Period / Year | 1,059.21 | 787.79 | 563.12 | 3,072.64 | 2,791.02 |
| VIII. Other comprehensive income attributable to : | |||||
| Owners of the Company | 0.05 | (0.38) | 0.19 | (1.60) | 0.74 |
| Non-controlling interest | (1.03) | (0.04) | (0.02) | (1.13) | (0.07) |
| Other comprehensive income for the Period / Year | (0.98) | (0.42) | 0.17 | (2.73) | 0.67 |
| IX. Total comprehensive income attributable to : | |||||
| Owners of the Company | 991.68 | 758.04 | 572.50 | 2,974.10 | 2,676.81 |
| Non-controlling interest | 66.55 | 29.33 | (9.21) | 95.82 | 114.87 |
| Total comprehensive income for the Period / Year | 1,058.23 | 787.37 | 563.29 | 3,069.92 | 2,791.69 |
| Paid-up equity share capital (Face value of Rs. 2 each) | 431.80 | 431.70 | 356.88 | 431.80 | 356.88 |
| Other equity | 21,641.28 | 11,342.07 | |||
| X. Earnings per equity share attributable to owners of the Company | |||||
| Basic (Rupee) | 5.04 | 3.85 | 3.21 | 15.11 | 16.30 |
| Diluted (Rupee) | 5.04 | 3.85 | 3.21 | 15.11 | 16.30 |
Pace Digitek Limited
(Formerly known as Pace Digitek Private Limited and Pace Digitek Infra Private Limited)
Registered Office: Plot # V 12, Industrial Estate, Kumbalgodu, Bangalore Mysore Highway, Bangalore, Karnataka, CIN: L31909KA2007PLC041949
Statement of Audited Consolidated Assets and Liabilities as at March 31, 2026
(Amounts are ₹ in million unless otherwise stated)
| Particulars | As at March 31, 2026 (Audited) | As at March 31, 2025 (Audited) |
|---|---|---|
| A. Assets | ||
| (1) Non-current assets | ||
| (a) Property, plant and equipment | 1,565.87 | 1,147.32 |
| (b) Capital work-in-progress | 382.85 | 320.86 |
| (c) Investment property | 17.02 | 17.86 |
| (d) Right-of-use assets | 201.98 | 8.32 |
| (e) Goodwill | 3.64 | 3.64 |
| (f) Other intangible assets | 304.43 | 287.51 |
| (g) Financial assets | ||
| (i) Trade receivables | 3,756.24 | 2,946.05 |
| (ii) Finance lease receivables | 5,315.04 | - |
| (iii) Other financial assets | 1,367.84 | 1,370.81 |
| (h) Deferred tax assets (net) | 138.51 | 226.92 |
| (i) Non current tax assets (net) | 34.39 | 48.25 |
| (j) Other non current assets | 396.50 | 280.42 |
| Total non-current assets | 13,484.31 | 6,657.97 |
| (2) Current assets | ||
| (a) Inventories | 5,403.10 | 1,126.29 |
| (b) Financial assets | ||
| (i) Trade receivables | 20,665.45 | 12,709.81 |
| (ii) Cash and cash equivalents | 2,699.72 | 783.54 |
| (iii) Bank balances other than (ii) above | 4,991.27 | 1,380.49 |
| (iv) Finance lease receivables | 253.42 | - |
| (v) Other financial assets | 1,968.74 | 2,432.85 |
| (c) Other current assets | 3,676.10 | 1,398.62 |
| Total current assets | 39,657.80 | 19,831.60 |
| Total assets | 53,142.11 | 26,489.56 |
| B. Equity and liabilities | ||
| (1) Equity | ||
| (a) Equity share capital | 431.80 | 356.88 |
| (b) Other equity | 21,641.28 | 11,342.07 |
| Equity attributable to owners of the holding Company | 22,073.08 | 11,698.95 |
| (c) Non-controlling interest | 449.28 | 391.07 |
| Total equity | 22,522.36 | 12,090.02 |
| (2) Liabilities | ||
| I. Non current liabilities | ||
| (a) Financial liabilities | ||
| (i) Borrowings | 6,067.16 | 241.75 |
| (ii) Lease liabilities | 198.20 | 4.53 |
| (iii) Other financial liabilities | 5.03 | 1.80 |
| (b) Provisions | 538.31 | 649.83 |
| (c) Other non-current liabilities | 316.41 | - |
| Total non-current liabilities | 7,125.11 | 897.91 |
| II. Current liabilities | ||
| (a) Financial liabilities | ||
| (i) Borrowings | 3,540.12 | 1,365.24 |
| (ii) Lease liabilities | 4.35 | 3.92 |
| (iii) Trade payables | ||
| (A) total outstanding dues of micro enterprise and small enterprises; and | 141.37 | 138.98 |
| (B) total outstanding dues of creditors other than micro enterprise and small enterprises | 17,777.89 | 10,011.27 |
| (iv) Other financial liabilities | 952.68 | 606.31 |
| (b) Other current liabilities | 210.00 | 205.78 |
| (c) Provisions | 390.18 | 290.90 |
| (d) Current tax liabilities (net) | 478.05 | 879.23 |
| Total current liabilities | 23,494.64 | 13,501.63 |
| Total liabilities | 30,619.75 | 14,399.54 |
| Total equity and liabilities | 53,142.11 | 26,489.56 |
Pace Digitek Limited
(Formerly known as Pace Digitek Private Limited and Pace Digitek Infra Private Limited)
Registered Office: Plot # V 12, Industrial Estate, Kumbalgodu, Bangalore Mysore Highway, Bangalore, Karnataka, India, 560074
CIN: L31909KA2007PLC041949
Statement of Audited Consolidated Statement of Cash Flows for the year ended March 31, 2026
(Amounts are ₹ in million unless otherwise stated)
| Particulars | For the year ended March 31, 2026 (Audited) | For the year ended March 31, 2025 (Audited) |
|---|---|---|
| A. Cash flows from operating activities | ||
| Profit before tax | 4,295.29 | 3,839.29 |
| Adjustment for: | ||
| Depreciation and amortization expense | 120.04 | 60.49 |
| Finance costs | 597.40 | 1,150.48 |
| Net foreign exchange rate fluctuation losses | 226.79 | - |
| Interest on lease liabilities | 0.83 | 1.03 |
| Gain on sale of property, plant and equipment | (0.39) | (2.79) |
| Interest income on lease receivables | (36.83) | - |
| Interest income on security deposits | (1.10) | (2.18) |
| Liability written back | (47.25) | (10.52) |
| Balances written off | 39.54 | 187.38 |
| Loss allowance for trade receivable | 102.22 | (24.11) |
| Interest income on delayed payment | (5.37) | (4.67) |
| Disposal of intangible assets under development | - | 11.56 |
| Interest received on fixed deposits | (253.60) | (180.39) |
| Provision for liquidity damages | 16.80 | 216.57 |
| Reversal/Recognised provision for warranty | (67.03) | 380.70 |
| Rental income | (7.79) | (6.93) |
| Operating profit before working capital changes | 4,979.56 | 5,615.89 |
| Adjusted for: | ||
| Movements in working capital: | ||
| (Increase)/decrease in trade receivables | (8,907.76) | (7,830.03) |
| (Increase)/decrease in other financial assets | (5,018.26) | (296.04) |
| (Increase)/decrease in other current assets | (2,525.49) | 117.99 |
| (Increase)/decrease in inventory | (4,276.81) | 1,590.60 |
| Increase/(decrease) in provision | (1.43) | 0.48 |
| Increase/(decrease) in trade payables | 7,547.59 | 133.57 |
| Increase/(decrease) in other financial liabilities | 349.59 | (247.25) |
| Increase/(decrease) in other current liabilities | 320.63 | 64.28 |
| Cash generated/(used) from operations | (7,532.38) | (850.49) |
| Income taxes paid (net of refunds) | (1,636.85) | (908.37) |
| Net cash generated from/(used) in operating activities (A) | (9,169.22) | (1,758.86) |
| B. Cash flows from investing activities | ||
| Purchase of property, plant and equipment | (1,057.69) | (365.60) |
| Proceeds from sale of property, plant and equipment | 248.82 | 4.38 |
| Loan received back during the year | - | 5.02 |
| Rent received | 7.79 | 6.93 |
| (Investment)/proceeds from fixed deposits (net) | (3,610.78) | 2,606.98 |
| Interest received on fixed deposits | 253.60 | 180.39 |
| Net cash generated from/(used) in investing activities (B) | (4,158.24) | 2,438.10 |
| C. Cash flows from financing activities | ||
| Proceeds of long term borrowings | - | 218.10 |
| Repayment of long term borrowings | 7,998.17 | (482.06) |
| (Repayment)/proceeds of short term borrowings (net) | - | (3,060.92) |
| Payment of lease liabilities | 193.27 | (4.18) |
| Payment for purchase of shares from non-controlling interest of subsidiary | (40.32) | - |
| Proceeds from issue of equity shares (net of issue expenses) | 7,402.64 | 3,626.36 |
| Finance cost paid | (310.13) | (1,150.48) |
| Net cash generated from/(used) in financing activity (C) | 15,243.64 | (853.18) |
| Net increase/(decrease) in cash and cash equivalents (A+B+C) | 1,916.18 | (173.94) |
| Cash and cash equivalents at the beginning of the year | 783.54 | 957.49 |
| Cash and cash equivalents at the end of year | 2,699.72 | 783.54 |
| Components of cash and cash equivalents considered only for the purpose of cash flow statement | ||
| (a) Balances with banks | ||
| In current accounts | 2,698.63 | 782.19 |
| (b) Cash on hand | 1.09 | 1.35 |
| Total cash and cash equivalents | 2,699.72 | 783.54 |
Notes:
1. Consolidated segment wise information for the quarter and year ended March 31, 2026
| S.no. Particulars | For the quarter ended | For the year ended | |||
|---|---|---|---|---|---|
| March 31, 2026 | December 31, 2025 | March 31, 2025 | March 31, 2026 | March 31, 2025 | |
| Andited (Refer note-9) | Unaudited | Unaudited (Refer note-4) | Andited | Andited | |
| 1 Segment revenue before elimination | |||||
| (a) Energy | 14,022.15 | 2,399.60 | 343.21 | 18,406.97 | 1,363.47 |
| (b) Telecom | 1,412.87 | 5,668.62 | 6,484.50 | 14,886.66 | 27,610.70 |
| (c) Others | - | - | 4.97 | 66.63 | 45.77 |
| Total | 15,435.02 | 8,068.22 | 6,832.68 | 33,360.27 | 29,019.94 |
| Eliminations | 4,467.23 | 1,628.56 | - | 6,947.57 | 4,632.14 |
| Net revenue from operations | 10,967.79 | 6,439.66 | 6,832.68 | 26,412.70 | 24,387.80 |
| 2 Segment results (Profit/(Loss) before interest and tax from ordinary activities) | |||||
| (a) Energy | 1,542.48 | 33.22 | 20.24 | 1,640.38 | 70.49 |
| (b) Telecom | 578.02 | 1,256.68 | 1,423.76 | 3,570.48 | 5,027.09 |
| (c) Others | - | - | 0.84 | 1.69 | 5.78 |
| Total | 2,120.50 | 1,289.89 | 1,444.85 | 5,212.55 | 5,103.36 |
| Less: I) Finance costs | (342.87) | (92.68) | (68.96) | (598.23) | (1,151.50) |
| : II) Un-allocable expenditure net of un-allocable income | (319.50) | (54.71) | (623.98) | (319.01) | (112.55) |
| Profit before tax | 1,458.13 | 1,142.50 | 751.91 | 4,295.29 | 3,839.29 |
| 3 Segment assets | |||||
| (a) Energy | 19,669.56 | 9,046.95 | 1,670.62 | 19,669.56 | 1,670.62 |
| (b) Telecom | 22,234.01 | 22,940.29 | 18,135.73 | 22,234.01 | 18,135.73 |
| (c) Others | 97.72 | 231.29 | 122.35 | 97.72 | 122.35 |
| Total | 42,001.29 | 32,218.53 | 19,928.70 | 42,001.29 | 19,928.70 |
| Others un-allocated | 11,140.82 | 11,569.79 | 6,560.86 | 11,140.82 | 6,560.87 |
| Total segment assets | 53,142.11 | 43,788.32 | 26,489.56 | 53,142.11 | 26,489.57 |
| 4 Segment liabilities | |||||
| (a) Energy | 13,829.30 | 4,326.64 | 128.05 | 13,829.30 | 128.05 |
| (b) Telecom | 12,240.96 | 12,819.36 | 1,166.45 | 12,240.96 | 1,166.45 |
| (c) Others | - | - | - | - | - |
| Total | 26,070.27 | 17,146.00 | 1,294.50 | 26,070.27 | 1,294.50 |
| Others un-allocated (excluding borrowings) | 4,549.48 | 5,013.06 | 13,105.05 | 4,549.48 | 13,105.05 |
| Total segment liabilities | 30,619.75 | 22,159.05 | 14,399.54 | 30,619.75 | 14,399.54 |
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The above audited consolidated financial results of the Company for the quarter and year ended March 31, 2026 have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meeting held on May 25, 2026. These results have been audited by the statutory auditors of the Company under Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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These audited consolidated financial results of the Company have been prepared in accordance with the Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013, read with the Companies (Indian Accounting Standard) Rules, 2015, as amended.
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The figures for the quarter ended March 31, 2025, have not been subjected to audit or review by statutory auditors. However, the management has exercised due care and diligence to ensure that the consolidated audited financial results for the said year present a true and fair view of the Group's financial performance and financial position.
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During the year ended March 31, 2026, the Company has completed its Initial Public Offer (IPO) of Rs. 8,191.48 million out of which 3,74,09,047 number of equity shares with face value of Rs. 2 each. (The issue comprises a fresh issue of 3,73,53,967 number of equity shares at a premium of Rs. 217 per equity share and 55,080 equity shares reserved for eligible employees at a premium Rs. 197 per equity share (i.e., at a discount of Rs. 20 per equity share on issue price). Pursuant to the IPO, the equity shares of the company are listed on the National Stock Exchange ("NSE") and Bombay Stock Exchange ("BSE") on 06 October 2025.
- The total proceeds from issue of shares consisted of IPO proceeds of Rs. 8,191.48 million. The offer expenses (estimated) amounted to Rs. 733.14 million leaving a net proceeds Rs. 7,458.34 million. The details of objects of issue and its utilized/unutilized portion is as follows:
| Object of the issue as per prospectus | Amount to be utilized as per prospectus (net proceeds) | Utilized amount upto March 31, 2026 (refer note a) | Unutilized amount upto March 31, 2026 |
|---|---|---|---|
| Funding Capital Expenditure requirements for investment in the Subsidiary of the Company i.e., Pace Renewable Energies Private Limited, for setting up battery energy storage systems for a project awarded by the Maharashtra State Electricity Distribution Company Limited (Capital Expenditure) | 6,300.00 | 4,172.72 | 2,127.28 |
| General Corporate Purpose | 1,158.84 | 1,149.61 | 8.73 |
| Share issue expenses | 733.14 | 712.42 | 20.72 |
| Total | 8,191.48 | 6,034.75 | 2,156.72 |
a) The amount utilized during the current period is based on the fund utilization certificate issued by independent chartered accountant dated May 09, 2026 and report issued by monitoring agency i.e. Crisil rating limited dated May 12, 2026.
b) The unutilized amounts are lying in bank account of Rs. 2,156.72 million that includes the fund lying in the bank account of Rs. 963 million of subsidiary i.e. Pace Renewable Energies Private Limited.
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The Subsidiary Company, Pace Renewable Energies Private Limited, has received a loan sanction of Rs. 1,221.50 crore from IREDA for the BESS project, including Rs. 405.00 crore towards Viability Gap funding (VGF)/Grant. During the current year, the Company received the loan amounting to Rs. 606 crore outstanding as on 31 March 2026, in accordance with the sanction terms and a grant of Rs. 40.50 crore from MSEDCL on October 16, 2025 under the notified scheme.
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The Government of India vide notification w.e.f November 21, 2025 has consolidated multiple existing legislations into a unified framework comprising four Labour Codes collectively referred 10 as the New Labour Codes. As per Ind AS 19 'Employees Benefit', changes to employee benefit plans arising from legislative amendments constitute a planned amendment, requiring recognition of past service cost immediately in the statement of profit and loss. The calculated financial impact due to introduction of new labour codes has been taken in these financial results.
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The Statement includes the results for the quarter ended March 31, 2026 being the balancing figures between the audited figures in respect of the financial year ended March 31, 2026, and the published unaudited year-to-date figures up to the end of the third quarter of the current financial year, which were subjected to limited review.
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Previous year figures have been regrouped / reclassified wherever necessary to conform to the current period/year classification.
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The results for the quarter and year ended March 31, 2026 are available on the Company's website at www.pacedigitek.com and on the website of BSE Limited at www.bseindia.com and National Stock Exchange of India Limited at www.nseindia.com, where the shares of the Company are listed.
For and on behalf of the Board of Directors of Pace Digitek Limited
(Formerly known as Pace Digitek Private Limited and Pace Digitek Infra Private Limited)
MADDISETTY
VENUGOPAL RAO
Venugopalrao Maddisetty
Managing Director
DIN-02070491
Place: Bangalore
Date: May 25, 2026
PACE DIGITEK
Pace Digitek Limited
(Formerly Known as Pace Digitek Private Limited and Pace Digitek Infra Private Limited)
Regd. Office: Plot No. V-12, Industrial Estate, Kumbalgodu, Mysore Highway, Bangalore - 560 074.
T: +91 80 29547792 / 94 / 95 / 96.
E: [email protected]
w: www.pacedigitek.com
CIN-L31909KA2007PLC041949
Annexure B
The details as required under Regulation 30 read with Schedule III of the SEBI Listing Regulations and SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 is enclosed as below
| Sr. No. | Particulars | Details |
|---|---|---|
| 1. | Reason for change viz. appointment, re-appointment, resignation, removal, death or otherwise; | Appointment as Secretarial Auditors |
| 2. | Date of appointment / term of appointment | The Board of Directors at their meeting held today i.e. May 25, 2026 approved the appointment of CS Pramod S, Company Secretary in Practice, as the Secretarial Auditors of the Company for a term of five (5) consecutive years commencing from Financial Year 2026-27 till Financial Year 2030-31 subject to approval of the shareholders of the Company at the ensuing Annual General Meeting. |
| 3. | Brief profile (in case of appointment); | CS Pramod S, Company Secretary in Practice, a Peer Reviewed unit having over a decade of experience in Corporate Secretarial consultancy and audit. |
| 4. | Disclosure of relationship between directors (in case of appointment of a Director). | Not Applicable |