B.R.Goyal Infra. Q4 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 25 Aug 2026 | Construction | Market Cap: ₹456 Cr
The company targets a consistent growth rate of 20% to 25% annually in revenue. The company aims for a revenue growth of 20% to 25% annually in the coming years.
From B.R.Goyal Infra.'s Q4 FY26 earnings-call transcript · updated 25 Aug 2026.
Price
₹192
Market Cap
₹456 Cr
P/E Ratio
10.2
How does B.R.Goyal Infra. rank in Construction?
Compare B.R.Goyal Infra. against every Construction company this quarter on revenue, margins and earnings-call signals.
📊 Revenue & Sales Performance
- →The company targets a consistent growth rate of 20% to 25% annually in revenue.
- →They have already bid for INR1,500 to INR2,000 crores worth of large projects, aiming to increase the scale of orders.
- →The focus is maintained on a balanced revenue mix: ~40% EPC road and building, 20-25% wastewater, and 35-40% toll collection contracts.
- →Expansion into new sectors like wastewater treatment and toll collection contracts (TOT and BOT models) provides additional growth avenues.
- →Strategic bidding aligns with government fund allocations to ensure timely execution and payment.
- →Increasing order book from INR1,235 crores with plans to add INR2,000 crores in orders indicates robust order inflow.
- →The company is transitioning to larger ticket size projects (INR500+ crores for road projects, INR50-100+ crores for building contracts) to optimize scale and margins.
- →Enhancing execution capabilities and geographical presence across nine states supports sustainable growth trajectory.
📈 Profitability & Margins
- →The company aims for a revenue growth of 20% to 25% annually in the coming years.
- →EBITDA margin target is to increase from around 9% to a range of 10% to 11%.
- →EPC segment EBITDA margins are expected to be around 13% to 15%, while toll collection contract margins are around 4%; blended margins target 10%-11%.
- →Wastewater treatment segment is expected to contribute 20%-25% of revenues with EBITDA margins of 15%-20%, potentially boosting overall margins.
- →PAT margin improved to 5.48% in FY26 and is expected to increase with better execution and mix.
- →Management focuses on expanding order book from current INR1,235 crores towards adding INR2,000 crores more, supporting top-line growth.
- →Increasing scale, operational efficiencies, and selective bidding where government fund allocation is assured contribute to sustainable profitability growth.
🏗️ Capital Expenditure Plans
- →The company made a strategic investment by acquiring a 10% stake in VirtuosoInfra Meditech Limited, a real estate company in Indore developing a building project with around 3 to 3.5 lakh sq. ft. saleable area.
- →The project is expected to last 2 to 2.5 years with an estimated revenue of about INR150 crores.
- →Fundraising through convertible warrants and enhancement of borrowing limits aims to support larger opportunities and long-term expansion plans.
- →Preferential issue funds will be used for working capital and to pursue growth initiatives, including targeting larger ticket-size EPC projects above INR200 crores.
- →The company is focusing on bidding for bigger projects including potential PPP and HAM projects, with plans to monetize assets and expand in toll collection contracts.
- →No joint ventures or technology tie-ups for wastewater projects; currently focused on civil work.
💰 Fundraising & Capital Structure
- →The company has announced a preferential issue via convertible warrants as a proposed fundraise.
- →This fundraise, along with enhancement of borrowing limits, aims to provide additional resources for pursuing larger opportunities and supporting long-term expansion.
- →The preferential issue is planned considering future fund requirements expected in 10 to 12 months.
- →Fund deployment will support working capital and growth initiatives.
- →There is no mention of immediate or additional equity dilution beyond the convertible warrants.
- →Borrowing limit enhancement is also part of the strategy to support growth.
- →Overall, the fundraising through convertible warrants and borrowing limit enhancement is a planned strategy to ensure financial flexibility for larger projects and expansion in coming years.
📋 Order Book & Pipeline
- →As of March 31, 2026, B.R. Goyal Infrastructure Limited had an order book of approximately INR 1,200 crores.
- →The company is targeting to add around INR 2,000 crores of new orders in FY27 across sectors like wastewater, roads, and toll collection.
- →Currently, the outstanding order book stands around INR 1,235 crores after executing INR 811 crores worth of projects.
- →The company has bid for projects worth between INR 1,500 to INR 2,000 crores, including individual projects of INR 300 crores, INR 600 crores, and INR 800 crores.
- →Bid capacity is near INR 2,000 crores with the ability to bid up to INR 600-700 crores for individual EPC orders and unlimited toll collection contracts, supported by sufficient net worth.
- →Order selection is focused on projects with assured government fund allocation, mainly national highways and municipal bodies with allocated budgets.
Key Metrics
Frequently Asked Questions
What were B.R.Goyal Infra. Q4 FY26 results?
The company targets a consistent growth rate of 20% to 25% annually in revenue. The company aims for a revenue growth of 20% to 25% annually in the coming years.
What is B.R.Goyal Infra. share price analysis?
B.R.Goyal Infra. currently shows a neutral. The stock trades at a P/E of 10.2 with a market cap of ₹456 Cr. Investors should review the full earnings analysis for detailed insights.
Is B.R.Goyal Infra. planning capital expenditure?
The company made a strategic investment by acquiring a 10% stake in VirtuosoInfra Meditech Limited, a real estate company in Indore developing a building project with around 3 to 3.5 lakh sq.
Keep B.R.Goyal Infra. on your radar — track it to get its next earnings analysis in your feed.
This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.