SPML Infra Ltd Q4 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 14 Jun 2026 | Construction | Market Cap: ₹1.6K Cr
Targeting minimum 25% growth in both top line (revenue) and bottom line (profit) for FY27 and subsequent years. - Order intake goal: INR 5,000 crores annually, with net water orders around INR 2,500 to 3,000 crores. - Execution spread over 3 years; shortfalls in one year expected to be compensated in subsequent years. - BESS segment targeting 2.5 to 5 gigawatt capacity with peak revenue potential around INR 5,000 crores. - By 2029-30, expecting 50:50 revenue split between water infrastructure and power/BESS businesses. - Long-term expectation to grow revenue from approx. SPML Infra targets a minimum 25% growth in both top line (revenue) and bottom line (profits) for FY27 and beyond.
From SPML Infra Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹193
Market Cap
₹1.6K Cr
P/E Ratio
19.0
Revenue Rank
Margin Rank
How does SPML Infra Ltd rank in Construction?
Compare SPML Infra Ltd against every Construction company this quarter on revenue, margins and earnings-call signals.
SPML Infra Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹291 Cr, net profit ₹27 Cr.
Full financials →📊 Revenue & Sales Performance
Rank 2- →Targeting minimum 25% growth in both top line (revenue) and bottom line (profit) for FY27 and subsequent years.
- →Order intake goal: INR 5,000 crores annually, with net water orders around INR 2,500 to 3,000 crores.
- →Execution spread over 3 years; shortfalls in one year expected to be compensated in subsequent years.
- →BESS segment targeting 2.5 to 5 gigawatt capacity with peak revenue potential around INR 5,000 crores.
- →By 2029-30, expecting 50:50 revenue split between water infrastructure and power/BESS businesses.
- →Long-term expectation to grow revenue from approx. INR 800 crores currently to around INR 10,000 crores by 2030-31 through balanced growth in both water and BESS sectors.
- →Working capital efficiently managed, no liquidity issues expected to constrain growth.
- →New orders with higher profit margins expected to increase overall profitability over time.
📈 Profitability & Margins
Rank 3- →SPML Infra targets a minimum 25% growth in both top line (revenue) and bottom line (profits) for FY27 and beyond.
- →Working capital management is expected to remain stable, supporting cash flow for growth initiatives.
- →The company anticipates legacy low-margin orders to complete in 2-3 years, with future orders being high-margin.
- →BESS (Battery Energy Storage System) segment aims for peak revenue potential of INR 2,500 crores per phase, growing to INR 5,000 crores combined.
- →By 2030-31, SPML expects water and power EPC businesses to contribute equally, targeting overall revenue of around INR 10,000 crores — approximately 12x from current levels (~INR 800 crores).
- →Arbitration awards and claims are forecasted to generate substantial cash inflows to fund growth and repay debt, freeing cash flow for expansion.
- →The company benefits from accumulated tax losses shielding tax payments in coming years, improving net earnings potential.
🏗️ Capital Expenditure Plans
Yes- →The company is targeting a total capex of approximately INR 200 crores for the Battery Energy Storage System (BESS) segment.
- →Breakdown of the capex includes:
- → - INR 175 crores for expanding capacity from 2.5 to 5 gigawatt-hour.
- → - INR 25 crores planned for Research & Development expenditure.
- → - INR 35 crores allocated for container manufacturing facilities.
- →The container manufacturing is planned to be completed by the end of the current year.
- →BESS is a strategic focus area, integrating battery pack manufacturing, container manufacturing, and EPC business.
- →The BESS project execution timeline is shorter (12 to 24 months) compared to water infrastructure (3.5-4 years), supporting faster turnover and growth.
- →The company plans to continue investments aligned with growth in water, power, and BESS segments.
💰 Fundraising & Capital Structure
No- →The company has received an enhancement of its credit limit up to INR 505 crores by lenders, indicating potential for debt-based fundraising as needed for new orders in water, power, and access sectors.
- →The company is availing surety bond options worth INR 305 crores from leading insurance companies to substitute for bank guarantees, under favorable terms and low margin.
- →There is no explicit mention of new equity fundraising in the provided text.
- →Cash flow is largely free for growth purposes with minimal repayment needed to NARCL, implying no immediate need for equity infusion.
- →Management will continue to review its outlook and provide updated guidance, which may include fundraising plans in future calls if needed.
📋 Order Book & Pipeline
Yes- →Current order book including joint ventures (JV) is around INR5,616 crores.
- →Net water order book share (excluding consortium) is roughly INR3,300 crores.
- →Target for annual water order inflow is INR5,000 crores, inclusive of JV, aiming for net order share of INR2,500 to INR3,000 crores.
- →Orders have typical execution timelines of 3 years, with expected new orders of INR4,000 to INR5,000 crores next year.
- →Order book for BESS and power is growing, supported by large NTPC BESS order (~INR1,128 crores).
- →Overall target is to maintain an annual order inflow of INR5,000 crores, split between water and power/BESS segments.
- →The order execution will be phased over years, with shortfalls in one year expected to be compensated over subsequent years.
Key Metrics
Revenue
Margin
Capex
Fundraise
Order Book
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What SPML Infra's management said in earlier quarters
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Frequently Asked Questions
What were SPML Infra Ltd Q4 FY26 results?
Targeting minimum 25% growth in both top line (revenue) and bottom line (profit) for FY27 and subsequent years. - Order intake goal: INR 5,000 crores annually, with net water orders around INR 2,500 to 3,000 crores. - Execution spread over 3 years; shortfalls in one year expected to be compensated in subsequent years. - BESS segment targeting 2.5 to 5 gigawatt capacity with peak revenue potential around INR 5,000 crores. - By 2029-30, expecting 50:50 revenue split between water infrastructure and power/BESS businesses. - Long-term expectation to grow revenue from approx. SPML Infra targets a minimum 25% growth in both top line (revenue) and bottom line (profits) for FY27 and beyond.
What is SPML Infra Ltd share price analysis?
SPML Infra Ltd currently shows a moderate growth signal based on ranking data. 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?
The company is targeting a total capex of approximately INR 200 crores for the Battery Energy Storage System (BESS) segment.
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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.