AI systems (48% mix) are the core growth engine, driving ~4x AI revenue and 92% YoY growth in 9MFY26, aided by large ₹450cr orders.

Sole NVIDIA OEM status plus full-stack in-house design supports faster deployment and structurally higher margins (~14-15%) than peers.

Short 8-16 week execution cycles and high customer concentration (~80% from top 10) create revenue volatility and bargaining risk.