Pace Digitek touched an intraday high of Rs 181.90 after its subsidiary bagged a Rs 92.93 crore battery storage order from Kalpa Power.

The stock moved up through Friday’s session, August 21, gaining ground after its material subsidiary, Lineage Power, announced a fresh contract win.

Lineage Power received a Letter of Award valued at Rs 92.93 crore, inclusive of GST, from Kalpa Power Private Limited for supplying and commissioning a 100 MWh Battery Energy Storage System.

The company confirmed that Kalpa Power is a domestic entity, the transaction does not qualify as a related party deal, and the promoter group holds no financial interest in the awarding firm. Project execution needs to wrap up by December 31, 2026.

This contract builds on an earlier move, an MoU that Lineage Power signed with Bondada Renewable Energy on July 10 to supply a range of battery storage products, including DC blocks, commercial and residential BESS units, power conversion systems and battery containers.

Energy storage has become a central pillar of Pace Digitek’s growth plans.

Chairman and Managing Director Venugopal Rao Maddisetty said in early July that the BESS business alone is expected to make up 55% of the company’s revenue for FY27, with total revenue guided between Rs 3,200 crore and Rs 3,400 crore.

To meet that demand, the company is doubling its battery storage manufacturing capacity to 10 GWh from 5 GWh, with the expanded facility expected to be ready by September end or mid October.

Despite Friday’s gains, the stock is still down close to 12% over the past month.

Pace Digitek shares closed at Rs 180.69 on the NSE, finishing the day up 3.03%, or Rs 5.32.

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