Siemens Energy India Limited Q3 FY2026: Revenue up 39.3% YoY to INR 2,486 Cr. and PAT up 67.8% YoY to INR 441 Cr

MD & CEO - SEIL, Guilherme Mendoca

• Revenue up 39.3% YoY to INR 2,486 crore; PAT up 67.8% YoY to INR 441 crore
• Profit from operations (%) improves by 430 bps YoY to 21.9%
• Order backlog up 16.4% YoY to INR 19,331 crore

Financial Summary

Particulars (INR crore, unless otherwise stated)	Quarter ended June '26	Quarter ended June '25	Change (%)	Nine months ended June '26	Nine months ended June '25	Change (%)
Order backlog	19,331	16,601	16.4	19,331	16,601	16.4
Revenue from operations	2,486	1,785	39.3	6,791	5,181	31.1
Profit from operations (EBIT)	545	314	73.6	1,437	963	49.2
Profit from operations (%)	21.9	17.6		21.2	18.6
Profit after tax	441	263	67.8	1,128	741	52.2
EPS (INR per share)	12.38	7.38		31.70	20.80

Revenue witnessed solid growth increasing 39.3% to INR 2,486 crore primarily supported by robust order backlog and execution. Profit from operations (%) also improved by 430 bps year-on-year to 21.9%, primarily driven by better operating leverage, higher export contributions, and disciplined order execution.

Management Commentary

Commenting on the Q3 FY2026 results, Guilherme Mendonca, Managing Director and Chief Executive Officer, Siemens Energy India Limited (SEIL), said, "Our strong Q3 FY2026 performance underscores the resilience of our business model and the disciplined execution of our strategy. Healthy revenue growth, expanding profitability, and a robust order backlog provide a solid foundation for sustained value creation. With India adding more than 30 GW of renewable energy capacity in the first half of CY2026 and power demand rising globally – driven by electrification, industrial growth, and AI-enabled data centers – the need for stronger, smarter, and more flexible energy infrastructure has never been greater. As a company committed to helping realize the Viksit Bharat vision, Siemens Energy India Limited is uniquely positioned to support this transformation through its innovative grid technologies, grid flexibilization solutions, and advanced power generation portfolio. Backed by technology leadership, local manufacturing capabilities, and execution excellence, we remain committed to enabling our customers' energy transition journeys, while delivering profitable and sustainable growth.”

About Siemens Energy India Limited

Siemens Energy India Limited (SEIL) is focused on supporting customers in transitioning to a more sustainable world. SEIL has solutions across the entire energy value chain – from power and heat generation, transmission to storage through a portfolio that includes conventional and renewable energy technology such as gas and steam turbines, hybrid power plants operated with hydrogen as well as power generators and transformers. More information is available at www.siemens-energy-india.com

BlissClub Bags ₹160 Crore, Scaling India’s Athleisure Brand With Founder & Investor Conviction

Minu Margeret, Founder of BlissClub

BlissClub, India's leading D2C athleisure brand, today announced it has raised ₹160 crore in a new funding round led by Singularity AMC. Founder Minu Margeret and her partner Vidit Aatrey are investing significant personal capital in the round, alongside doubling down by existing investors Elevation Capital and Eight Roads Ventures.

Founded in 2020, BlissClub set out to build activewear designed specifically for Indian women — a category underserved by both global and domestic brands. Since then, the company has grown into a full omnichannel business: revenue has grown over 60% year-on-year consistently for the past two years, its retail footprint has expanded to more than 40 stores, and this year it forayed into menswear for the first time. Much of that growth has been driven by a loyal, community-led customer base that BlissClub has built through its products, content, and events — a brand relationship the company has leaned on as it has moved from a single-category online label into a broader athleisure lifestyle business.

“Over the last five years, we’ve been focused on one simple idea — building incredibly comfortable, highly functional apparel for the way Indians actually live and move, designed for our bodies, our climate and our price points. We believe active lifestyle apparel is increasingly becoming a staple of everyday wardrobes, and BlissClub’s deep product R&D and sourcing capabilities give us a unique right to win in this category.

This round allows us to double down on that vision — investing further in product innovation, expanding our offline presence, and bringing BlissClub to many more consumers across the country. My conviction in this opportunity ahead has only grown stronger, and I’m personally doubling down on that belief by making a significant personal investment in this round.We’re still at the beginning of what we believe can become a large, enduring and category-defining Indian consumer brand.”

Singularity's investment is being led by Sandeep Bapat, CIO at the firm, and brings a combination of public-market and consumer/D2C investing experience through its ecosystem — including Yash Kela, from the family of noted public-market investor Madhu Kela.

Sandeep Bapat, Co-Chief Investment Officer, Singularity AMC said "We have been very impressed with how the Blissclub team has thoughtfully built a strong brand and business in the fast-growing categories of comfort-wear and active-wear in India. This fundraise will enable the company to further expand across both offline and online channels.”

This round reflects more than a routine capital raise. It brings together a new lead investor with a differentiated view of consumer businesses, a founding family backing its own vision with personal capital, and long-time institutional investors choosing to go deeper — multiple groups, each with deep knowledge of consumer businesses, aligning around BlissClub's next phase.

BlissClub will use the fresh capital to support its category expansion plans, fuel its offline retail scale up, strengthen product development, and hire for the next stage of growth.

About BlissClub

Founded in 2020 by Minu Margeret, BlissClub is a Bengaluru-based D2C and omnichannel brand creating athleisure fashion engineered specifically for Indian women and men. The brand was built on the premise that activewear designed for Indian bodies, climate, and price points was largely missing from the market — and has since grown into one of India's fastest-scaling consumer brands in the category.

BlissClub's product range spans leggings, tops, outerwear, and accessories, engineered through in-house R&D and sourcing, for both comfort and superior functionality. What started as a women's-first online label has grown into a broader lifestyle brand — with a retail footprint of more than 40 stores across India, a 2026 foray into menswear, and a strong presence across online, marketplace, and offline channels.

About Singularity

Singularity AMC is an India-focused alternative asset management platform with approximately US$1 billion in assets under management across growth private equity, public equity (PIPE), and co-investment strategies. The firm invests in high-growth businesses across sectors including consumer, healthcare, financial services, energy transition, and next-generation industrials, backing companies with long-term structural growth trends, led by strong management teams, and positioned to build enduring category leadership. For more information, visit www.singularityamc.com

India Trials Plastic Currency: Durable Notes Set to Transform Cash Handling

India has officially approved field trials of polymer (plastic) ₹10 and ₹20 notes, but paper currency will continue to circulate. The Reserve Bank of India (RBI) will test 2 billion polymer notes under varying conditions to assess durability, cost savings, and public acceptance.

Polymer currency notes are made of a specialized plastic film called biaxially oriented polypropylene (BOPP), a petroleum-derived plastic film, which is engineered to be durable, secure, and resistant to wear. In India’s upcoming trials, the ₹10 and ₹20 notes will use this polymer substrate instead of paper.

India to Test Plastic Currency

Key Facts

• Trial Size: 2 billion polymer notes (₹10 and ₹20 denominations).
• Approval Date: July 2026, under the RBI Act 1934.
• Objective: Test durability, crease resistance, climate resilience, and handling feedback.
• Paper Notes: Will not be withdrawn; polymer notes will circulate alongside them.
• Fake Rumors: PIB clarified that viral claims of replacing all paper notes by June 30, 2026 were false.

Why Polymer Notes?

Feature	Paper Notes	Polymer Notes
Durability	1–3 years average	5–7 years average
Resistance	Susceptible to tearing, moisture	Resistant to heat, humidity, dust
Security	Standard watermark, thread	Advanced embedded security features
Cost	Higher replacement cost	Lower lifecycle cost
Environmental Impact	Frequent disposal	Longer lifespan reduces waste

Global Context

• Countries using polymer notes: Australia, Canada, UK, New Zealand.
• Benefits observed: Longer lifespan, reduced counterfeiting, lower printing costs.
• India’s plan: Evaluate similar benefits before nationwide rollout.

Risks & Challenges

• Public Acceptance: People may find texture unfamiliar.
• Counterfeit Adaptation: Criminals may attempt new methods.
• Environmental Concerns: Disposal of polymer notes requires specialized recycling.
• Digital Payments Impact: Polymer notes will not affect India’s digital transaction ecosystem.

What This Means for You

• No immediate change: Your paper notes remain valid.
• Polymer notes may appear soon: Watch for ₹10 and ₹20 denominations.
• Savings for RBI: Longer lifespan could save thousands of crores in printing/disposal costs.

Shiprocket IPO to Open August 12 with Price Band ₹92–₹97 per Share

• Price Band has been fixed from ₹ 92 to ₹ 97 per Equity Share
• The Floor Price is 9.2 times and the Cap Price is 9.7 times of the face value (₹10 per share) of the Equity shares
• Bid/Offer will open on Wednesday, August 12, 2026 and close on Friday, August 14, 2026 (“Bid/Offer Period”)
• The Anchor investor Bid/Offer Period shall be on Tuesday, August 11, 2026
• Bids can be made for a minimum of 154 Equity Shares of face value ₹10 each and in multiples of 154 Equity Shares of face value ₹10 each thereafter (“Minimum Bid Lot”)
• RHP Link: https://www.axiscapital.co.in/contents/Shiprocket%20Limited%20-%20RHP%20-%20August%205,%202026-1785937235.pdf

Shiprocket Limited (the “Company”), shall open the Bid/Offer in relation to its Initial Public Offer of Equity shares on Wednesday, August 12, 2026.

The Price Band of the Offer has been fixed at ₹ 92 to ₹ 97 per Equity Share of face value ₹10 each. (“Price Band”).

Bids can be made for a minimum of 154 Equity Shares of face value ₹10 each and in multiples of 154 Equity Shares of face value ₹10 each thereafter. (“Minimum Bid Lot”).

The Anchor Investor Bidding Date shall be Tuesday, August 11, 2026. The Bid/Offer shall open on Wednesday, August 12, 2026.

(L–R) Mr. Saahil Goel- Managing Director and Chief Executive Officer, Shiprocket Limited and Mr. Tanmay Kumar, Chief Financial Officer Limited , Shiprocket Limited

The total offer size of equity shares with face value of ₹10 each aggregating up to ₹16,174.85 million, comprises of a fresh issue of equity shares aggregating up to ₹8,855.00 million and an Offer for sale of equity shares aggregating up to ₹7,319.85 million.

The company proposes to utilize the net proceeds from the fresh issue towards Investment in the growth of the Shiprocket’s platforms by way of investment in marketing initiatives primarily for its Emerging Business and for its Core Business; for investment in technology infrastructure and capabilities primarily for its Emerging Business and for its Core Business; Repayment / prepayment, in full or in part, of certain borrowings availed of by the Company including payment of the interest accrued thereon; and Funding inorganic growth through unidentified acquisitions and general corporate purposes.

The Equity Shares offered through this Red Herring Prospectus are proposed to be listed on the Stock Exchanges being BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE” and together with BSE, the “Stock Exchanges”). For the purpose of the Offer, NSE is the Designated Stock Exchange.

Axis Capital Limited, BofA Securities India Limited, JM Financial Limited and Kotak Mahindra Capital Company Limited are the book running lead managers to the issue.

This is an Offer in terms of Rule 19(2)(b) of the SCRR read with Regulation 31 of the SEBI ICDR Regulations. This Offer is being made through the Book Building Process in compliance with Regulation 6(2) of the SEBI ICDR Regulations wherein not less than 75% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs” and such portion the “QIB Portion”) provided that our Company, in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which 33.33% shall be reserved for domestic Mutual Funds and 6.67% shall be reserved for Life Insurance Companies and Pension Funds, subject to valid Bids being received from domestic Mutual Funds, Life Insurance Companies and Pension Funds at or above the price at which Equity Shares will be allocated to the Anchor Investors (“Anchor Investor Allocation Price”), in accordance with the SEBI ICDR Regulations. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (excluding the Anchor Investor Portion) (“Net QIB Portion”).

Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors) including Mutual Funds, subject to valid Bids being received at or above the Net Offer Price. If at least 75% of the Net Offer cannot be Allotted to QIBs, then the entire Bid Amount (as defined hereinafter) will be refunded forthwith. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs. Further, not more than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders (“NIBs”) of which (a) one third portion shall be reserved for NIBs with application size of more than ₹200,000 and up to ₹1,000,000; and (b) two-thirds of the portion shall be reserved for NIBs with application size of more than ₹1,000,000, provided that the unsubscribed portion in either of such sub-categories may be allocated to Bidders in other sub-category of the NIBs in accordance with SEBI ICDR Regulations, subject to valid Bids being received above the Offer Price and not more than 10% of the Net Offer shall be available for allocation to Retail Individual Bidders (“RIB”) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price.

The offer includes a reservation of equity shares of face value of ₹ 10 each, aggregating up to ₹ 10.00 million, for subscription by eligible employees (“employee reservation portion”). The Company, in consultation with the BRLMs, may offer a discount of up to ₹ 9 per equity share of the offer price to eligible employees bidding in the employee reservation portion (“employee discount”), subject to necessary approvals as may be required. The offer less the employee reservation portion is hereinafter referred to as the “net offer”.

All Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA accounts and UPI ID (in case of UPI Bidders using the UPI Mechanism), in which case the corresponding Bid Amounts will be blocked by the SCSBs or under the UPI Mechanism, as applicable to participate in the Net Offer. Anchor Investors are not permitted to participate in the Anchor Investor Portion of the Net Offer through the ASBA process.

Disclaimer:

Shiprocket Limited is proposing, subject to, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its Equity Shares and has filed the Red Herring Prospectus (“RHP”) with the Registrar of Companies, National Capital Territory of Delhi - I, at South Delhi (“RoC”) on August 5, 2026. The RHP is available on the website of the Company at www.shiprocket.in, SEBI at www.sebi.gov.in, as well as on the websites of the BRLMs, i.e. Axis Capital Limited, BofA Securities India Limited, JM Financial Limited and Kotak Mahindra Capital Company Limited at www.axiscapital.co.in, https://business.bofa.com/bofas-india, www.jmfl.com and https://investmentbank.kotak.com, respectively and the websites of National Stock Exchange of India Limited and BSE Limited at www.nseindia.com and www.bseindia.com, respectively. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, please see “Risk Factors” on page 30 of the RHP. For taking an investment decision, potential investors must rely on their own examination of our Company and the Offer, including the risks involved. Investors are advised to rely only on the information contained in the RHPand price band advertisement for making investment decision.. The Equity Shares offered in the Offer have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any other applicable law of the United States and, unless so registered, may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws in the United States. Accordingly, the Equity Shares are being offered and sold (a) within the United States only to persons reasonably believed to be “qualified institutional buyers” (as defined in Rule 144A under the U.S. Securities Act and referred to in the Red Herring Prospectus as “U.S. QIBs”) in transactions exempt from, or not subject to, the registration requirements of the U.S. Securities Act; and (b) outside the United States in “offshore transactions” as defined in, and in reliance on, Regulation S under the U.S. Securities Act and in compliance with the applicable laws of the jurisdictions where those offers and sales are made.

India's 20 Satellites in Crowded Orbit Face Rising Collision Threat

Representative Image

Twenty of India’s 22 active satellites are in low Earth orbit (LEO) and face heightened collision risks due to space debris crowding, the government told Parliament on August 5, 2026. ISRO has already executed 29 collision avoidance manoeuvres (CAMs) in the past 18 months to protect these assets.

ISRO executed 20 CAMs in year 2025 and 9 in year 2026, till date. Thousands of satellites (Starlink, OneWeb, etc.) crowd LEO, increasing collision probability. Over 150,000 close approach alerts were evaluated by ISRO in 2025 alone.

A CAM is a controlled manoeuvre where a satellite’s orbit is slightly altered to avoid a predicted collision.A trigger is initiated when tracking systems (like ISRO’s MOTR radar or global alerts) detect a conjunction event — a close approach between two objects. The outcome of these CAMs is that the satellite is steered safely away from debris or another spacecraft, ensuring mission continuity.

Without CAMs, even a small debris fragment could destroy or disable a satellite. Each manoeuvre consumes fuel, shortening satellite lifespan — so CAMs are used only when risk is significant.

Key Facts from Parliament Briefing

• Satellites at risk: 20 Indian satellites in LEO (below 2,000 km altitude) are more vulnerable compared to geostationary satellites.
• Collision avoidance manoeuvres:
  • 2025: 20 CAMs executed
  • 2026 (till August): 9 CAMs executed
  • Total (last 18 months): 29 CAMs
• Tracking systems: Sriharikota MOTR radar tracks large LEO objects. Hanle optical telescope (Ladakh) under the NETRA project is nearing completion; will track objects ≥30 cm at GEO altitude.
• Policy framework: IN-SPACe is drafting guidelines on state liability and insurance for damages caused by Indian space objects.

India’s Global Role in Space Debris Mitigation

• Active participant in Inter-Agency Debris Coordination Committee (IADC), UN Long-Term Sustainability Working Group (UN-LTS), and International Astronautical Federation (IAF) debris groups.
• Contributed to revised IADC debris mitigation guidelines with technical inputs.
• Announced Debris-Free Space Mission (DFSM) in 2024, aiming for zero debris from Indian government and private missions.

Collision Risk Overview

Factor	Impact on Indian Satellites
Space debris density	LEO is the most crowded orbital zone (<2000 km).
Satellite population	20 of 22 active Indian satellites are in LEO.
Close approach alerts	ISRO evaluated 150,000+ alerts in 2025 alone.
Mitigation actions	29 CAMs executed in 18 months.
Tracking infrastructure	MOTR radar + upcoming NETRA optical telescope.

Risks & Challenges

• Collision probability rising as more satellites (including mega-constellations like Starlink and OneWeb) crowd LEO.
• Insurance & liability gaps remain unresolved; India is still finalizing its framework.
• Dependence on global alerts means India must strengthen indigenous tracking capacity.

What’s Next

• Hanle telescope completion will significantly improve India’s GEO monitoring.
• Policy adoption by IN-SPACe will clarify liability for third-party damages.
• Debris-Free Space Mission (DFSM) aims to set India apart as a responsible spacefaring nation.