Enviro Infra Engineers LimitedInfrastructure & ConstructionEIEL
Q1 FY27 concall · earnings callEnviro Infra Engineers Limited
The company delivered strong revenue growth through execution of its diversified order book, though margins were pressured by raw material costs and expansion efforts.
Numbers
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Revenue from Operations | ₹359.2 Cr | 49% Y-o-Y | |
| EBITDA | ₹75.7 Cr | 17.87% Y-o-Y | |
| EBITDA Margin | 21.07% | — | |
| Profit After Tax | ₹45.2 Cr | 6.47% Y-o-Y | |
| PAT Margin | 12.38% | — | |
| Total Order Book | ₹6,721 Cr | — |
Financials
From filed quarterly results. YoY and QoQ compare each metric on the same accounting basis.
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹247.45 Cr— YoY+16.2% QoQ | ₹36.72 Cr— YoY+1% QoQ | ₹2.59— YoY-0.4% QoQ |
| Q2 FY25 | ₹213.01 Cr— YoY— QoQ | ₹36.37 Cr— YoY— QoQ | ₹2.60— YoY— QoQ |
TL;DR
- Revenue grew 49% YoY to INR 359.2 Cr driven by order book execution.
- EBITDA margin declined to 21.07% from 26.65% last year, primarily due to higher input costs and employee costs from team expansion.
- Order book stands at INR 6,721 Cr, split between water/wastewater (INR 3,694 Cr) and renewables/BESS (INR 3,027 Cr).
- Management maintains FY27 revenue guidance of INR 2,000 Cr and PAT of INR 260-270 Cr, with EBITDA margin guidance revised to 19-20% blended.
- Focus remains on disciplined execution, converting the strong order book, and maintaining working capital discipline.
Said on the call
“So that says the movement in the company is in the right earnest, and we are going good.”
From the Q&A
| Topic | What management said |
|---|---|
| Margin Decline | Attributed to a 1-2% impact from raw material cost increases, a blend with lower-margin renewables, and higher employee costs (up to ~7% of revenue from 3-3.5%). |
| Order Book Execution Timeline | Water/wastewater execution orders (INR 2,700 Cr) to be done in 18-24 months. Renewable execution orders (INR 2,000 Cr) in 12-18 months. O&M spans 5-15 years for water and 5-25 years for renewables. |
| Segment Margins | Water/wastewater EBITDA margin expected at 21-22%. Renewable (solar, wind, BESS) EBITDA margin expected at 15-18%. Blended guidance is 19-20%. |
| Revenue Guidance & Execution Confidence | Management strongly reiterated FY27 revenue guidance of INR 2,000 Cr and PAT of INR 260-270 Cr, stating the order book supports this even with no new orders. |
| Suyog Urja Acquisition | Second tranche of INR 100 Cr payment due after FY27. Expects INR 400-450 Cr revenue from Suyog in FY27 with 15-16% EBITDA margin. |
| Working Capital & Receivables | Acknowledged working capital cycle is 'bloated' due to slow government payments but expects improvement and states the company has no bad debts and meets all liabilities on time. |
| Bidding Pipeline | INR 3,000 Cr under evaluation; another INR 6,000-7,000 Cr projects invited for bidding. Expects order inflow of INR 2,500 Cr for FY27 with a 20% strike rate. |
Guidance
- FY27 Revenue: INR 2,000 crores.
- FY27 PAT: INR 260-270 crores.
- Blended EBITDA Margin: 19-20% (revised from 22-24%).
- Water/Wastewater EBITDA Margin: 21-22%.
- Renewables EBITDA Margin: 15-18%.
- Expected order inflow for FY27: INR 2,500 crores.
- Employee cost expected to normalize to 5-5.5% of revenue.
- Finance cost expected at 3-3.5% of revenue.
Source
Summary written from the transcript filed by Enviro Infra Engineers Limited for the call held on 12 Aug 2026; published 18 Aug 2026, 19:51 IST.
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