SPML Infra Ltd
SPML Infra Ltd Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Q3 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
SPML Infra expects a revenue growth of roughly 25% to 30% for FY'26. SPML Infra expects revenue growth of **25% to 30%** for FY26.
From SPML Infra Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- SPML Infra expects a revenue growth of roughly 25% to 30% for FY'26.
- Execution momentum is accelerating with significant portions of projects entering the billing phase.
- The company anticipates INR350-400 crores of execution in Q4 FY'26, indicating a strong finish to the year.
- Order book as of December 31, 2025, stands at INR4,358 crores with potential inflows in Q1 FY'27 from current bids.
- Expect sizeable orders from the Battery Energy Storage Systems (BESS) segment and power substations starting next year.
- Long-term growth driven by large tender opportunities worth approximately INR5 lakh crores in water, power, and BESS sectors over the next five years.
- BESS industry size in India expected to be about 236 gigawatt hours by FY'32, with SPML targeting at least 5 gigawatt hours in the next 1-2 years, expanding to 10 gigawatt hours eventually.
Profitability & Margins
See what SPML Infra Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- SPML Infra is setting up a Battery Energy Storage System (BESS) manufacturing facility with a 2.5 gigawatt hour capacity at Supa MIDC Pune, expected to be operational from Q1 FY’27.
- Plans to scale up BESS capacity to 5 GWh and eventually to 10 GWh in future phases.
- The company is evaluating setting up a container manufacturing facility to backward integrate the BESS operations. This is still under internal review and subject to approval.
- No current plans for institutional fundraises; capex and investments are being funded through promoter infusion and internal accruals with sufficient liquidity and bank limits in place.
- The strategic focus includes expanding in the BESS EPC segment, leveraging the own battery pack production capacity both for captive use and for supplying other EPC players.
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
See what SPML Infra Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Current order book as of December 31, 2025 is approximately INR 4,358 crores (including JV share), comprising:
- - INR 1,540 crores legacy low-margin orders expected to complete within 1-2 years
- - INR 2,800 crores new higher-margin orders secured in the last year
- No significant expected change in order book by March 2026 as order conversions from tenders take 3-4 months
- Bids submitted amount to around INR 8,000 crores across water, BESS, and power segments
- Long-term visibility of approximately INR 5 lakh crores worth of tenders in various states
- Actively bidding on tenders worth around INR 4,000 to 9,000 crores in BESS and power substation segments
- Legacy power orders in order book roughly INR 200-300 crores; new power orders yet to enter book but expected from substations and BESS projects
SPML Infra Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: 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 Q3 FY26 results?
SPML Infra expects a revenue growth of roughly 25% to 30% for FY'26. SPML Infra expects revenue growth of **25% to 30%** for FY26.
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 setting up a Battery Energy Storage System (BESS) manufacturing facility with a 2.5 gigawatt hour capacity at Supa MIDC Pune, expected to be operational from Q1 FY’27.
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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.