Pace Digitek Ltd (PACEDIGITK)

Telecommunication · Telecom Equipment & Infra Services · NSE · Updated 2 September 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹166.3

🎯 Key Takeaways

Pace Digitek is transitioning from a telecom infrastructure-focused business to a diversified energy and infrastructure player, with energy now contributing 79.5% of revenue and BESS emerging as a high-growth priority.
Revenue declined 49.4% QoQ to ₹555 in Q1FY27.
⚠️ Heavy reliance on energy segment (79.5% of Q1 revenue) exposes the company to policy and demand volatility in renewable energy incentives.

Market Cap

₹3,590

P/E Ratio

10.9

P/B Ratio

3.07

ROE

26.9%

ROCE

38.8%

Debt/Equity

0.14

Promoter

69.5%

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📖 The Story

Pace Digitek is transitioning from a telecom infrastructure-focused business to a diversified energy and infrastructure player, with energy now contributing 79.5% of revenue and BESS emerging as a high-growth priority. The company is scaling rapidly, targeting 10 GWh BESS capacity by December 2026 and expanding its order book in energy, while reaffirming FY27 revenue guidance of ₹3,200-3,400 crores. However, profitability remains concentrated in telecom, and cash flow normalization is expected only by March 2027.

📰 What's Happening

In Q1 FY27, revenue surged 51.3% YoY to ₹555 crores, with energy contributing 79.5% of sales, driven by strong BESS growth and a 10 GWh capacity target by December 2026. The company reaffirmed its FY27 revenue guidance and highlighted that telecom's order book share is expected to rise to 30-35% of total by FY27. A new subsidiary, TransgreenX Asset Holdco, was incorporated to focus on renewable energy and infrastructure projects, and Inso Pace Private Limited was acquired via cash consideration. Shareholder votes at the upcoming AGM will include approval of a ₹200 crore loan limit to related entities and appointments including a new Women Independent Director.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	533	644	1,097	555
Operating Profit	92	113	160	82
OPM %	17.3%	17.6%	14.6%	14.7%
Net Profit	68	79	106	63
EPS	₹3.59	₹3.85	₹5.04	₹2.84

Revenue growth has accelerated, with Q1 FY27 revenue at ₹555 crores (up 51.3% YoY), though this follows a high base of ₹1,097 crores in Q3 FY26. Gross margin improved to 28% and EBITDA margin to 15.5%, reflecting operational efficiency in energy segments. However, PAT declined to ₹63 crores in Q1 FY27 from ₹106 crores in the prior quarter, indicating margin pressure or investment intensity. Operating cash flow remains negative, with a cumulative OCF of ₹-176 crores as of March 2025, though management expects normalization by March 2027 as working capital stabilizes.

🔮 Management Outlook & What's Next

Management reaffirmed FY27 revenue guidance of ₹3,200-3,400 crores, with energy expected to contribute 65-70% and telecom 30-35% of the order book. BESS capacity is targeted at 10 GWh by December 2026, with margins targeting 10.5-11% PAT. They also emphasized that operating cash flow will turn positive by March 2027, signaling a focus on scalable growth with eventual cash flow sustainability.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	Mar 2025	Mar 2026	Mar 2026
Equity Capital	36	36	43
Reserves	1,134	1,253	2,164
Borrowings	161	151	981
Total Liabilities	2,649	3,006	5,314
Fixed Assets	145	186	178
Investments	2	0	0
Total Assets	2,649	3,006	5,314

The balance sheet shows a significant rise in total assets from ₹2,649 crores in March 2025 to ₹5,314 crores in March 2026, driven by asset expansion likely linked to the new subsidiary and BESS investments. Borrowings increased to ₹981 crores from ₹151 crores, indicating active capital deployment, while equity and reserves grew from ₹1,189 crores to ₹2,595 crores, suggesting capital infusion or retained earnings. This reflects a leveraged growth phase with a focus on long-term asset creation in energy and infrastructure.

💰 Cash Flow Statement (₹ Cr)

Item	Mar 2025
Operating	-176
Investing	+244
Financing	-85
Net Cash Flow	-17

👥 Shareholding Pattern

Category	Q3FY26	Q4FY26	Q1FY27
Promoters	69.5%	69.5%	69.5%
FII	2.3%	0.6%	1.0%
DII	5.2%	6.0%	5.4%
Public	14.5%	15.5%	17.5%
# Shareholders	79,347	78,483	94,368

Promoter holding remains stable at 69.52% across quarters, indicating confidence. However, FII and DII holdings have declined — FII from 2.31% in Q3FY26 to 0.56% in Q4FY26, and DII from 5.99% to 5.36% — while public holding rose slightly. The number of shareholders has increased to 94,368, suggesting retail participation growth. No significant pledging or exit signals from promoters, but foreign investor interest appears to be waning.

⚖️ Peer Comparison — Telecom Equipment & Infra Services

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
INDUSTOWER	98,931	13.8	27.4%	18.0%	0.02
HFCL	36,206	61.6	18.9%	14.8%	0.37
TEJASNET	9,648	—	-14.6%	-31.3%	1.38
PACEDIGITK	3,590	10.9	38.8%	26.9%	0.14
NELCO	2,110	547.1	5.5%	3.0%	0.46
GTLINFRA	1,486	1.4	93.4%	-69.3%	-1.97
526775	1,406	46.2	58.0%	44.3%	0.03
KRONECOMM	1,116	49.5	34.0%	26.0%	0.00
SUYOG	859	14.1	20.7%	15.4%	0.31
517258	243	—	5.9%	-10.3%	3.25

🔗 Peer Stock Analyses

INDUSTOWER HFCL TEJASNET NELCO GTLINFRA

⚠️ Risk Factors

1. Heavy reliance on energy segment (79.5% of Q1 revenue) exposes the company to policy and demand volatility in renewable energy incentives. 2. Cash flow remains negative despite revenue growth, with normalization expected only by March 2027, raising liquidity concerns during expansion. 3. Margins in telecom are stable but not expanding, limiting diversification benefits. 4. Lack of quantified ESG targets in the BRSR report creates uncertainty around long-term sustainability compliance and investor alignment.

📋 Recent Filings

🧠 Analyst's Read

Pace Digitek is executing a clear strategic pivot toward energy and infrastructure, supported by strong revenue growth and BESS expansion. While financial trends show improvement in margins and asset base, cash flow remains a key near-term concern. Investors should monitor the pace of BESS scaling, cash flow inflection, and progress on ESG target setting as critical catalysts.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-02.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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