SPML Infra LimitedInfrastructure & ConstructionSPMLINFRA
Q1 FY27 concall · earnings callSPML Infra Limited
SPML Infra delivered strong Y-o-Y growth and is executing on its transformation, with a focus on high-margin water, power, and BESS projects, backed by a strengthened balance sheet and a robust order book.
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Revenue | ₹286 Cr | 74% | |
| EBITDA | ₹28 Cr | 81% | |
| PAT | ₹22.7 Cr | 87% | |
| EBITDA Margin | 10% | 1% | |
| Order Book | ₹5,100 Cr | — |
From filed quarterly results. YoY and QoQ compare each metric on the same accounting basis.
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹186.27 Cr-26.2% YoY-1.2% QoQ | ₹9.91 Cr+769.3% YoY-24.1% QoQ | ₹1.20+421.7% YoY-51.6% QoQ |
| Q2 FY25 | ₹188.57 Cr-25.7% YoY-8.8% QoQ | ₹13.06 Cr+3429.7% YoY+1.1% QoQ | ₹2.48+3442.9% YoY-3.9% QoQ |
| Q1 FY25 | ₹206.76 Cr-41.2% YoY-55.2% QoQ | ₹12.92 Cr+2771.1% YoYTurned profitable QoQ | ₹2.58+2766.7% YoYTurned positive QoQ |
| Q4 FY24 | ₹461.21 Cr-0.5% YoY+82.8% QoQ | ₹-3.56 CrTurned loss-making YoYTurned loss-making QoQ | ₹-1.81Turned negative YoYTurned negative QoQ |
| Q3 FY24 | ₹252.24 Cr+64.6% YoY-0.7% QoQ | ₹1.14 CrTurned profitable YoY+208.1% QoQ | ₹0.23Turned positive YoY+228.6% QoQ |
- Revenue grew 74% Y-o-Y to INR286 crores with an EBITDA margin of 10%.
- Order book stands at ~INR5,100 crores, of which only ~INR1,251 crores is legacy low-margin work.
- Targeting >INR5,000 crores of new order intake in FY27; secured INR1,293 crores in Q1.
- BESS manufacturing facility's first phase is ready; targeting INR200-300 crores revenue from NTPC order in Q4 FY27.
- Net worth doubled to >INR1,000 crores; debt-to-equity improved to 0.4x.
- Maintaining guidance of >25% growth in revenue and profit for FY27.
“This quarter reflects the tangible progress of our transformation journey, a stronger balance sheet and improved order book quality, encouraging momentum at our base manufacturing facility and consistent execution across our water and power projects.”
| Topic | What management said |
|---|---|
| Order Book Details | Clarified that the INR3,843 crores figure for new orders is the company's share in JVs, not the total JV value. |
| Margin Targets | Stated current strategy is to not take any order with less than a 10% margin, and recent orders have margins above 10%. |
| BESS Revenue Guidance | Expects INR200-300 crores of revenue from the NTPC BESS order in Q4 FY27, subject to design approvals. |
| FY27 Growth Drivers | Attributed expected >25% growth to execution of new high-margin orders, with BESS contributing later in the year; sees no major constraint to achieving this target. |
| NARCL Debt Repayment | Of INR700 crores total, INR325 crores repaid; balance INR375 crores is backed by an arbitration award. Aiming to reduce liability to ~INR300 crores by end of FY27. |
| BESS Competitive Advantage | Highlighted exclusive technology tie-up with Energy Vault and first-mover manufacturing advantage as key differentiators in the BESS space. |
- Targeting more than INR5,000 crores in new order intake for FY27.
- Expects revenue and profit growth of more than 25% compared to last financial year.
- Anticipates INR200-300 crores of BESS revenue in Q4 FY27 from the NTPC order.
Summary written from the transcript filed by SPML Infra Limited for the call held on 17 Aug 2026; published 20 Aug 2026, 17:33 IST.
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