🚀 India’s AI Infrastructure Moment
🔹 AI Boom is accelerating
🔹 GPU demand is exploding
🔹 India needs domestic cloud
🔹 Enter: E2E Networks
❓ Why Is E2E in the Spotlight Again?
📈 Strong Q3 FY26 results
🔄 Turnaround phase underway
⚠️ Losses still visible
🎯 Long-term AI play
🧠 What Exactly Does E2E Do?
🖥️ GPU cloud infrastructure
🤖 AI / ML workloads
🏢 Enterprise + Government clients
🇮🇳 India-focused data centers
📊 Q3 FY26: Revenue Surge
💰 ₹70 Cr operating revenue
📈 +60% QoQ growth
🖥️ Higher GPU utilisation
🏭 Enterprise workloads rising
🔥 EBITDA: Operating Leverage at Work
📊 EBITDA up 120% QoQ
📈 Margin: 56.6%
⚙️ Fixed costs absorbed
🚀 Scale benefits visible
⚠️ Then Why Is There Still a Loss?
💸 High depreciation
🏗️ Infrastructure expansion phase
📉 Net loss: ₹6 Cr
⬇️ Loss reduced from ₹14 Cr
🖥️ GPU Utilisation: The Real Profit Lever
📊 60–65% utilisation
🔧 New GPU clusters live
📈 Utilisation = earnings power
🎯 Next target: higher scale
🚀 FY27 Utilisation Guidance
📈 Target: 80–90% utilisation
⚙️ Massive operating leverage
💰 Revenue visibility improves
📊 Margin expansion likely
🧬 Blackwell GPUs: Next Growth Engine
🆕 1,024 Blackwell GPUs
🏭 Chennai data center
⚡ Next-gen performance
📉 Lower break-even utilisation
💰 Blackwell Cluster Economics
📊 ₹250 Cr ARR potential
🔄 Steady-state utilisation
⚡ Superior unit economics
🚀 FY27 revenue visibility
🇮🇳 India AI Mission: Strategic Win
🏛️ L1 provider empanelment
🤖 Sovereign AI focus
🧠 National AI infrastructure
📈 Long-term workloads
📜 Big Government Orders Secured
💰 ₹88 Cr order
💰 ₹177 Cr order
📅 Projects live from Jan 2026
🖥️ GPU utilisation boost
🔐 Why Sovereign AI Matters
🇮🇳 Data localisation
🛡️ National security
📊 Guaranteed demand
🏗️ Infrastructure stickiness
🤝 L&T Entry: Credibility Boost
🏢 21% stake acquisition
💰 ₹1,407 Cr investment
🔗 Enterprise access
📈 Long-term partnerships
🏭 Enterprise Opportunity via L&T
🏢 Large corporate clients
📊 Early conversions started
⏳ Synergies over time
📈 Revenue scale-up
🌍 Jarvis Labs Acquisition
🧠 GPU cloud platform
🎓 Academic & research users
🌍 Global footprint
📈 FY27 contribution expected
🔄 Customer Base Diversification
🇮🇳 India enterprise
🏛️ Government AI projects
🎓 Global research users
🌐 International exposure
📈 Monthly Revenue Run Rate (MRR)
💰 ₹28 Cr MRR (Q3 FY26)
🎯 Target: ₹35–40 Cr
📅 By end of FY26
🚀 Strong ramp-up
🧮 Long-Term Margin Vision
📊 70% EBITDA margin target
⚙️ High utilisation driven
🏗️ Infra already built
💰 Profit scalability
⚖️ Short-Term Risks
⚠️ Earnings volatility
💸 High depreciation
🏗️ Heavy capex phase
📉 Quarter-to-quarter noise
🌱 Long-Term Tailwinds
🤖 India’s AI push
🇮🇳 Data localisation rules
🖥️ Domestic GPU demand
🚀 Early-mover advantage
📉 Stock Correction = Opportunity?
📉 ~35% price correction
📊 ~11x FY28 EV/EBITDA
⚖️ Risk vs reward setup
🧠 Long-term investor focus
🧠 How to Look at E2E
❌ Not a safe stock
⚠️ High-risk phase
🚀 High AI upside
⏳ Patience required
🏁 PyUncut Hindi Takeaway
🏗️ Infrastructure before profits
🤖 AI demand is real
🇮🇳 India needs players like E2E
📈 Long-term story intact
💬 Final Question for Viewers
🤔 Opportunity or risk?
📊 AI backbone or hype?
💬 Comment your view
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