Pace Digitek shares rose up to 3.51% to ₹181.52 on Friday (August 21) following the announcement of a significant new order. According to reports from CNBC TV18 and Business Standard, the company secured a ₹92.9 crore order for a 100 Megawatt-hour Battery Energy Storage System (BESS) from Kalpa Power. The order was secured by its material subsidiary, Lineage Power, for the supply and commissioning support of the BESS, with completion scheduled by December 31, 2026. The order includes Goods and Services Tax (GST).
This latest order represents a significant addition to Pace Digitek's growing exposure to the battery energy storage segment. As reported by CNBC TV18, the Bengaluru-headquartered infrastructure solutions provider has identified battery energy storage as a key part of its growth plans, operating across telecommunications, Information and Communication Technology (ICT) infrastructure, and energy-related businesses. In early July, Chairman and Managing Director Venugopal Rao Maddisetty indicated that the BESS business was expected to account for 55% of the company's financial year 2026-27 (FY27) revenue, as demand for energy storage increases alongside renewable energy deployment in India.
The company has set ambitious targets for its battery energy storage operations. According to CNBC TV18, Pace Digitek has guided for FY27 revenue of ₹3,200-3,400 crore, with BESS expected to be the main growth driver. The company plans to double its battery energy storage manufacturing capacity to 10 Gigawatt-hours (GWh) from 5 GWh within three months, with the expanded capacity expected to be commissioned by September-end or mid-October. Maddisetty explained that battery energy storage systems are becoming more important as India adds renewable energy capacity, enabling storage of electricity generated during high renewable power production periods for later use when demand or grid requirements change.
The latest order follows other significant developments in Pace Digitek's battery storage portfolio. As reported by CNBC TV18, on July 10, Lineage Power entered into a Memorandum of Understanding (MoU) with Bondada Renewable Energy for the supply of different battery energy storage solutions. Under that agreement, Lineage Power was to supply products and systems including Direct Current (DC) Blocks, commercial and industrial BESS cabinets, residential BESS, Power Conversion Systems (PCS), Energy Management Systems (EMS) and battery containers. The commercial consideration was determined according to the terms of the agreement.
Despite Friday's positive movement, Pace Digitek shares have shown mixed longer-term performance. According to CNBC TV18, the stock is down 0.20% over one week and 12.03% over one month. It has declined 1.21% over three months and 1.85% over six months, while the year-to-date return stands at -4.21%, indicating that the recent gains from the battery storage order have not fully offset previous market pressures.
