The development represents an important step in Kore Digital’s growth journey, opening new opportunities to participate in defense-related manufacturing and technology initiatives aligned with India’s push for indigenisation and self-reliance in the sector

Key highlights of the development include:

• Indian Air Force’s Indigenisation and Substitution Cell (ISC), has approved Kore Digital Limited enabling the company to participate in defense supply and indigenisation projects using deeptech metal 3d printing.
• Approval is for manufacturing 3D printed metal, ceramic, and industrial plastic components specifically for defense applications under the ISC framework.
• Technical development supported by facilities at Indian Institute of Technology Bombay, leveraging its equipment and testing infrastructure.
• Recognized under the manufacturer category, enabling participation in indigenous defense component development and substitution programs.
• Approval valid until March 2031, providing long-term eligibility for defense procurement opportunities.

Management Commentary:

Commenting on the development, Ravindra Doshi, Managing Director of Kore Digital Limited, said, “This approval represents an important step in Kore Digital’s journey as we expand our capabilities in advanced manufacturing and defense-focused deeptech. Our recent engagement with the Indian Air Force, including a visit to the Base Repair Depots at Kanpur, Chandigarh and Nashik and Jodhpur Air Force Station to understand real operational challenges, has provided valuable insights into the requirements of modern defense operations. With our growing expertise in the development of 3D printed metallic, ceramic, and industrial plastic components, we are well positioned to support defense applications through innovative and efficient solutions. We believe this development opens meaningful opportunities for Kore Digital to contribute to India’s defense indigenisation and technology advancement initiatives.”

About Kore Digital Limited

Established in 2009, Kore Digital Limited has emerged as a significant contributor to Maharashtra’s telecom infrastructure landscape. The company focuses on the deployment and upkeep of telecom towers, poles and large-scale optical fiber networks.

Holding authorization from the Department of Telecommunications, Kore Digital offers advanced communication infrastructure and generates additional revenue by leasing or selling assets like dark fiber and tower space to broadband and telecom providers. It also delivers end-to-end maintenance solutions to support uninterrupted network operations.

In FY25, Kore Digital Limited Consolidated Revenue from Operations of ₹ 327.74 Cr, achieved an EBITDA of ₹ 47.55 Cr, and Net Profit of ₹ 31.70 Cr.

Disclaimer

Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

Consolidated Key Financial Highlights Q3 FY25

• Total Income of ₹ 119.43 Cr, YoY growth of 121.38%
• EBITDA of ₹ 19.42 Cr, YoY growth of 243.96%
• EBITDA Margin of 16.26%, YoY growth of 579 Bps
• Net Profit of ₹ 12.45 Cr, YoY growth of 199.28%
• Net Profit Margin of 10.42%, YoY growth of 271 Bps
• Diluted EPS of ₹ 31.54, YoY growth of 146.99%

Consolidated Key Financial Highlights 9M FY25

• Total Income of ₹ 211.25 Cr, YoY growth of 206.30%
• EBITDA of ₹ 30.29 Cr, YoY growth of 209.24%
• EBITDA Margin of 14.34%, YoY growth of 14 Bps
• Net Profit of ₹ 19.99 Cr, YoY growth of 185.31%
• Net Profit Margin of 9.46%
• Diluted EPS of ₹ 50.35, YoY growth of 134.19%

Commenting on the Financial performance Mr. Ravindra Doshi, Managing Director of Kore Digital Limited said, “We are pleased to report a strong performance in Q3 and 9M FY25, reflecting sustained growth momentum. Our total income for the first nine months of FY25 has doubled compared to the full year of FY24, reaching ₹211 Cr, underscoring our robust execution and market positioning.

Acquisitions of freshly formed Franken Telecom, Wolter Infratech, and KDL Realinfra was done to bring in clarity of three verticals namely Telecom infrastructure acquiring designing and leasing, telecom infra structure construction (Own) and contracted construction for clients (EPC) as these verticals need different sets of compliances and often confused by investors. Stock exchange and other authorities.

Acquisition is done purely for operational reasons to bring clarity in operation of existing business only. As the business is divided and diverted to freshly acquired companies these companies will show significant enhancement in Top line and PAT, however it is existing business of Kore Digital Limited which is being diverted to subsidiary companies, acquisition of freshly formed companies is not bringing additional work or revenue. Kore Digital Limited will be focussing on marketing and new business development.

Our unwavering focus on operational excellence and market expansion has enabled us to capitalize on emerging opportunities, driving both top-line growth and improved profitability. The post-monsoon recovery has also enhanced operational efficiency, supporting our growth trajectory.

Looking ahead, we remain optimistic about sustaining this momentum through Q4 and beyond, backed by continued market expansion and our commitment to delivering long-term value for all stakeholders.”