Management sets a clear and aggressive forward guidance for 40-50% annual topline growth, a key metric for investors to track.

“Yeah, so overall in terms of revenue, I think we are well-positioned to kind of target a growth of around 40% to 50% for the next two to three years. You know, that's the kind of growth that we will, yeah, look to target with the IPO proceeds.”

— Bhavik Khara – Whole-time Director & CFO

Signals significant operating leverage with EBITDA guided to grow 60-70% annually, much faster than revenue, implying strong margin expansion.

“So in terms of absolute numbers, I think the kind of support that we have with technology, in fact, you know, most of our workflows, the kind of business that we manage, most of the work is done by the technology that we have built, and we see the operating leverage start to kick in in the next two to three years as we scale. [SO WE SEE A DEFINITE IMPROVEMENT IN OUR EBITDA. IN FACT, WE FEEL THAT, YOU KNOW, WE'LL BE GROWING AT, LET'S SAY, ABOUT A 60-70% GROWTH IN OUR EBITDA FOR THE NEXT TWO TO THREE YEARS.] So, you know, that's the kind of numbers that we're looking at.”

— Bhavik Khara – Whole-time Director & CFO

Sets a clear capital structure target (D/E of 0.5-0.7), indicating a disciplined approach to leverage and use of innovative financing to manage working capital.

“So, the endeavor is going to be to keep our debt-to-equity ratio in the range of 0.5 to 0.7 in the future, without harming the growth that we want to do as well. So, what we'll do is we will use a mix of debt and equity. It's not, it's not the traditional CC lines or working capital debt, but it's more of, you know, getting ourselves listed on vendor financing platforms where our vendors can discount our bills and, you know, get money faster.”

— Bhavik Khara – Whole-time Director & CFO

Targeting a reduction in the net working capital cycle to 80-90 days is crucial for a capital-intensive business and signals a strong focus on operational efficiency.

“A good sustainable number that we would be looking to achieve in the next two to three years is about 80 to 90 days of net working capital. That gives us a good asset turnover ratio of around four. So, you know, that's what we will look to do in the future. Yes, you know, it's a working capital business. We understand, you know, we bridge the gap between the payables and receivables. Right now, what we've done is we've increased our payable days by getting favorable credit terms from the suppliers in the market to about 25 days, and we've brought down the receivables from about 160 days to about 134, and that's how we've come to a number of 110.”

— Bhavik Khara – Whole-time Director & CFO

Quantifies the significant margin uplift from the strategic shift to contract manufacturing, a key driver of future profitability as this segment grows.

“So in contract manufacturing, we are currently focusing on aggregates, RMC, and blocks. If, just to kind of give you some perspective, if you compare traded margins of aggregates versus where we control the entire capacity and have control over supply and quality, the difference in gross margins would be... [TRADED WOULD BE APPROXIMATELY 6% TO 7%, AND IN CONTRACT MANUFACTURING, GOING UP TO AS MUCH AS ABOUT 12% TO 14% EVEN.]”

— Bhavik Khara – Whole-time Director & CFO

Clarifies their business model is not a simple tech marketplace but involves taking inventory and credit risk, which explains the working capital need and is central to their value proposition.

“Yes, so our business model is not just to connect supply and demand. Our work, our differentiation is execution, where we take complete control over the sourcing, the quality, delivery, and documentation, which in effect means that we buy materials in our books and we sell it to our customers, and we give that kind of working capital support. So basically, we are bridging the gap between the payables and receivables. So that is why for growth, we require working capital.”

— Bhavik Khara – Whole-time Director & CFO

Highlights the rapid growth of the high-margin services business (60-70% margins mentioned elsewhere), an increasingly important part of their value proposition and profitability.

“..onboarding trusted suppliers and manufacturers, forming long-term partnerships with them, and securing material availability to serve the growing needs of large developers and contractors. Over time, this core engine of supply has naturally created opportunities to extend our role into project-level services..”

— Bhavik Khara – Whole-time Director & CFO

Addresses a potential investor concern by explaining the Q4 margin dip was a deliberate, short-term decision to service key clients, not a structural decline in profitability.

“As much as we want to focus on contract manufacturing, there are times when we want to support some key large accounts with materials that don't fall under that bracket. [AND THAT'S EXACTLY WHAT HAPPENED IN Q4, WHERE WE WERE SUPPORTING A FEW LARGE ACCOUNTS WITH HIGH DEMAND BECAUSE THE CONSTRUCTION ACTIVITY WAS AT PEAK.] And if you see the absolute number of contract manufacturing sales is the same, but there was an increase in the traded materials. And that's predominantly why, you know, there was a moderate profit that was recorded. But it was more of a strategic decision and not, you know, less demand from any particular high-margin categories.”

— Bhavik Khara – Whole-time Director & CFO