SPML Infra Ltd
SPML Infra Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
SPML Infra targets INR 5,000 crore in new orders for FY26 and plans to achieve over INR 5,000 crore annually in subsequent years. SPML Infra projects substantial growth driven by new high-margin water and power orders, and BESS segment expansion.
From SPML Infra Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- SPML Infra targets INR 5,000 crore in new orders for FY26 and plans to achieve over INR 5,000 crore annually in subsequent years.
- The company expects significant revenue growth from new high-margin orders in water, power substations, and BESS segments starting Q3 FY26.
- Revenue from new projects will contribute substantially in H2 FY26 and beyond, with expected EBITDA margins rising above 10% due to higher-margin contracts.
- The BESS segment, with current EPC margins above 10%, is expected to improve margins further by 4-5% once in-house battery pack manufacturing is operational.
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Profitability & Margins
See what SPML Infra Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- SPML Infra is focusing on building and expanding its Battery Energy Storage Systems (BESS) manufacturing capacity.
- The Phase I facility of 2.5 GWh at Pune MIDC is progressing on schedule.
- Plans to enhance capacity of the Supa plant to 5 GWh are underway.
- No immediate plans for additional BESS plants in Rajasthan or MP; expansion options kept open for the future.
- Capitalization of BESS expenses will be done until commercial production starts, enhancing balance sheet and profitability.
- Investments in technology for end-to-end turnkey integration covering design, manufacturing, installation, and maintenance of BESS.
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Top-ranked in Construction
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- Opening order book for FY’26 was around INR 2,000 crore; INR 400 crore executed, leaving INR 1,600 crore of old orders.
- New orders secured during the year amount to INR 3,772 crore.
- L1 status orders stand at INR 1,125 crore, expected to convert into firm orders likely in Q3 or spilling into Q4 FY’26.
- Pending Rajasthan awards total INR 700 crore (Pratapgarh and another), with one more L1 in Chennai.
- Target for new order inflow this year is INR 5,000 crore, with potential to exceed.
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SPML Infra Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹291 Cr, net profit ₹27 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What SPML Infra Ltd's management said in earlier quarters
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Frequently Asked Questions
What were SPML Infra Ltd Q2 FY26 results?
SPML Infra targets INR 5,000 crore in new orders for FY26 and plans to achieve over INR 5,000 crore annually in subsequent years. SPML Infra projects substantial growth driven by new high-margin water and power orders, and BESS segment expansion.
What is SPML Infra Ltd share price analysis?
SPML Infra Ltd currently shows a neutral. The stock trades at a P/E of 19.0 with a market cap of ₹1,617 Cr. Investors should review the full earnings analysis for detailed insights.
Is SPML Infra Ltd planning capital expenditure?
SPML Infra is focusing on building and expanding its Battery Energy Storage Systems (BESS) manufacturing capacity.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.