Optiemus BIGTech reports Rs 323.46 crore in project work

Optiemus Infracom Limited reported Rs 323.46 crore of capital work-in-progress at Bharat Innovative Glass Technologies Private Limited, or BIGTech, as of September 30, 2026, for a Tamil Nadu facility that will finish cover glass for mobile and display products. Optiemus said BIGTech remained in the pre-operative stage during the quarter.

What is Optiemus building in Tamil Nadu?

Optiemus is setting up a Tamil Nadu facility through BIGTech to finish cover glass for mobile and display products. The disclosure appeared in Optiemus’s consolidated financial-results notes for the quarter and half year ended September 30, 2026, which its Audit Committee and Board of Directors reviewed and approved on November 5, 2026.

The disclosed activity is cover-glass finishing rather than the manufacture of mobile phones or display panels. BIGTech is a subsidiary of Optiemus, and the filing does not disclose the plant’s annual capacity, construction-completion date, commercial-production date, customer arrangements or revenue target as of September 30, 2026.

Optiemus reports two business segments under Indian Accounting Standard 108, or Ind AS 108: trading and distribution, and manufacturing business. The filing does not separately report BIGTech’s revenue, profit or segment assets, consistent with its stated pre-operative status at the end of the September 2026 quarter.

How much has Optiemus recorded for the BIGTech project?

Optiemus recorded Rs 323.46 crore of capital work-in-progress, or CWIP, at BIGTech as of September 30, 2026. CWIP represents project assets that remain under development, and the classification matches the filing’s statement that the Tamil Nadu subsidiary had not entered operations.

The group’s consolidated CWIP was also Rs 323.46 crore at September 30, 2026, compared with Rs 300.34 crore at March 31, 2026. The consolidated balance therefore increased by Rs 23.11 crore over the six-month period, while property, plant and equipment rose by Rs 28.47 crore to Rs 186.40 crore.

The comparison shows that Optiemus had a larger balance in assets still being developed than in property, plant and equipment at September 30, 2026. The filing does not break the Rs 23.11 crore increase in consolidated CWIP between BIGTech and any other group project, nor does it specify additions transferred from CWIP into operating assets during the half year.

Who owns and funded BIGTech?

Optiemus holds 70% of BIGTech and Corning International Corporation, USA holds the remaining 30%, according to the financial-results note. The 30% stake is treated as a non-controlling interest in Optiemus’s consolidated accounts, while BIGTech is included among the group’s subsidiaries.

During the quarter ended September 30, 2026, BIGTech allotted rights-basis equity shares worth Rs 10.80 crore to Optiemus and Rs 4.63 crore to the non-controlling shareholder. The combined Rs 15.43 crore equity allotment reflects contributions by both shareholders during the quarter in which BIGTech continued to be pre-operative.

The consolidated cash-flow statement recorded Rs 4.63 crore of proceeds from issuing shares to non-controlling interest in a subsidiary for the half year ended September 30, 2026. That figure corresponds to the minority shareholder’s disclosed rights contribution, although the filing does not separately state how the equity proceeds were spent on equipment, construction, working capital or other project needs.

How does the project fit Optiemus’s manufacturing assets and cash flows?

Optiemus’s manufacturing segment had assets of Rs 1,767.81 crore at September 30, 2026, up from Rs 1,629.68 crore at March 31, 2026. The Rs 138.13 crore increase covers the broader manufacturing business and cannot be attributed solely to BIGTech because the filing gives no project-level segment asset reconciliation.

The manufacturing segment is one of two reportable segments, alongside trading and distribution, but the results do not isolate BIGTech’s operating contribution. Since BIGTech was pre-operative with Rs 323.46 crore of CWIP, Optiemus did not disclose revenue or profit from the cover-glass facility for either the September 2026 quarter or the half year.

At group level, Optiemus reported Rs 61.31 crore of net cash used in investing activities during the half year ended September 30, 2026, compared with Rs 17.39 crore used in the corresponding 2025 period. Purchases of property, plant and equipment, CWIP and intangible assets totalled Rs 62.33 crore in the 2026 half year, but the filing does not allocate that amount among BIGTech and other group investments.

Optiemus reported Rs 55.86 crore of net cash used in operating activities in the six months to September 30, 2026, lower than Rs 90.21 crore used a year earlier. Net cash from financing activities was Rs 97.86 crore, against Rs 77.67 crore in the prior-year half, including Rs 62.76 crore of net proceeds from long-term borrowings; none of these group-level cash-flow lines identifies a dedicated funding amount for BIGTech.

Conclusion

Optiemus has disclosed a substantial manufacturing project through BIGTech, with Rs 323.46 crore of CWIP linked to a Tamil Nadu cover-glass finishing facility for mobile and display products as of September 30, 2026. The project remained pre-operative, while manufacturing-segment assets increased by Rs 138.13 crore from March 31, 2026 and both BIGTech shareholders made equity contributions during the quarter.

The next disclosures to watch are a commissioning or commercial-production milestone, along with capacity, customer and revenue details, because none was provided in the November 5, 2026 results filing. Optiemus has disclosed the project’s purpose, ownership and CWIP balance, but the timing and operating scale of the facility remain unresolved.